Nearshoring in Latin America

Nearshoring as a development tool allows an increase in gross domestic product (GDP) of between 11% and 14% for countries that opt for this model; it also increases productivity, attracts foreign investment, encourages the inclusion of female labor and the hiring of more personnel, and finally, enables higher wage payments, according to the Inter-American Development Bank (IDB) data presented at the Summit of the Americas, 2022

Therefore, Latin America, as a region, must take advantage of its position and promote new alliances with the international private sector, given that investment indicators show a positive increase for this region in the near future.

According to the IDB, the offering is not only for U.S. or U.S.-focused companies looking to relocate operations, but for any company that sees benefits in relocating their production and other operations from Asia into Latin America.