By Narayan Ammachchi
Argentina’s software and IT services sector is on its way to generating $7.33 billion annually by 2020, according to Cessi, Argentina’s IT industry association.
This is a huge leap, given that sector generated less than one billion in revenues in 2012.
Cessi is also betting that the country’s IT sector will be earning $ 2.9 billion in annual service export revenue by 2020. However, Argentina’s software industry registered more than 10% growth in 2012 and generated more than US$900 million in export revenue, according to a recent statement from the country’s Minister of Industry, Debora Giorgi.
If everything goes accordingly, Cessi estimates that the sector will have employed as many as 134,000 people by that year. But today the sector has employed only about 75,000 people.
“The sector adds approximately 8,000-10,000 people every year,” reports Business News America quoting Cessi president José María Louzao as saying.
Software sector in Argentina has significantly grown over the years. Today the sector is popular for its agile software development methodology.
A decade ago, the sector had employed just 19,000 people, according to a previous study published by Cessi.
According to Business News America, Argentina currently has over 3,600 IT firms and around 60% of these companies are located in capital Buenos Aires and the remaining 40% being based in other provinces, mainly in Córdoba, San Luis and Santa Fe.
The study indicates that some 54% of these companies produce hardware, 25% provide IT services, and 16% are involved in software development.