Nearshoring has become a popular and intelligent option for U.S. companies that are not only looking to lower costs, but also want that cultural affinity and technological innovation that lend themselves to increased productivity and expertise. Latin America as a whole is gaining credibility as a viable source for sourcing, but it is important to delve deeper than the regional level to find the place where a buyer can attain the most value. With this in mind, ThinkSolutions took 19 countries in Central and South America to determine their overall appeal as nearshoring service locations and ranked them according to their financial incentives, business environment, and labor force. We placed emphasis on factors that would bring out the unique characteristics of the region, such as cultural affinity, time zone alignment, technological readiness, and language capabilities. These rankings will be updated quarterly or as major events occur that alter the outsourcing landscape.
Fourth Quarter Country Rankings:
1. Mexico 10. Guatemala
2. Chile 11. El Salvador
3. Costa Rica 12. Uruguay
4. Colombia 13. Honduras
5. Brazil 14. Dominican Republic
6. Panama 15. Paraguay
7. Peru 16. Nicaragua
8. Puerto Rico 17. Venezuela
9. Argentina 18. Bolivia
19. Ecuador
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Nearshore Country Rankings
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