Nearshoring has not only transformed the way companies outsource their operations, but it has also shifted the focus to which sectors are hiring the most talent in nearby regions. In 2024, technology development, cybersecurity, artificial intelligence, and financial services are leading the demand in Latin America and Eastern Europe.
In this article, we explore the sectors that have benefited the most from nearshoring, the growing demand for talent, and the opportunities available for professionals in these fields.
Sectors with the Highest Talent Demand in Nearshoring
According to a McKinsey report, companies have redirected over 30% of their offshoring investments towards nearshoring models in strategic sectors.
Software Development and IT
- In-demand languages: Python, JavaScript, Java, and Go.
- Key nearshore countries: Mexico, Argentina, Colombia, and Poland.
- Example companies: Google, Oracle, IBM, and Microsoft.
Companies are tapping into Latin American talent to cut costs and improve communication with U.S. teams.
Cybersecurity
- Sector growth: 15% annually in Latin America.
- Key roles: Security analysts, network engineers, and SOC specialists.
- Example companies: Cisco, Palo Alto Networks, and Kaspersky.
With the rise in cyberattacks, businesses are setting up Security Operations Centers (SOCs) in nearshore countries.
Artificial Intelligence and Data Science
- Rising demand: 50% more hires in 2023.
- Key countries: Brazil, Chile, and Mexico.
- Example companies: Amazon, Tesla, and Globant.
Companies are leveraging nearshoring to develop AI and machine learning models at more accessible costs.
Financial Services and Fintech
- Fintech adoption: Latin America leads globally in fintech innovation.
- Key nearshore cities: São Paulo, Buenos Aires, and Mexico City.
- Example companies: Nubank, Mercado Pago, and Revolut.
The growth of digital banks and payment platforms has spurred a high demand for fintech developers in the region.
The Future of Nearshoring and Talent Demand
Demand in these sectors is expected to grow by 40% over the next five years. Companies are investing in local talent development, while governments are offering incentives to attract foreign investment. Latin America and Eastern Europe are on track to become the tech hubs of the future, boasting highly competitive labor markets and strong international prospects.
