PUBLISHED: September 24, 2020
Atlantico has published its Latin America Digital Transformation Report for 2020. Highlights include:
- While tech penetration in Latam is lower than in other regions (2.5% in Brazil compared to 39% in the US), it is growing at a faster rate and catching up fast. Latam’s tech market cap as % of GDP has been growing at an average YoY rate of 65% since 2003.
- Internet access and usage is high (above China and India) and continues to grow, fueling one of the most digitally-active regions in the world.
- The region is on track for economic growth by 2021, following the economic slowdown caused by COVID-19.
- The Covid-19 pandemic accelerated transformation by driving the removal of outdated regulatory barriers kept in place by special interest groups.
- The mix of dissatisfied customers, a large financial incentive, and regulatory changes have ushered in transformation by fintechs entering the financial services sector
- Healthcare and education share similar traits to that of financial services and are showing early signs of being fertile grounds for digitalization.
To read the full report, please download it in the link below: