Peruvian Tech Industry: Full Report
In the last decade, Peru has managed to improve its educational, social, and infrastructural systems despite the regional context - the LatAm has become one of the least stable regions for investors. Also, even with small steps, the Peruvian economy registers positive growth, 0.6% per year, which gives a ray of hope to already existing foreign investors in the country.
All these factors, helped the local IT industry to overcome challenges and difficulties that the entire region confronts, and thus, placing Peru in the top digital services providers in the region.
According to Payscale, the average salary in the IT system in Peru reaches 24K USD/year, even if the country, like many others in the region transformed into a BPO center for North American companies, especially from the US and Canada.
Investors have access to cheap skilled professionals, cheap real-estate, and also to fiscal facilities established by the government to stimulate the IT industry’s growth.
Why you should work with Peruvian IT companies
Human resources - plenty, educational level - relatively high compared to the region, IT infrastructure - decent, but could be better. These are the key factors that attract both companies and clients to the Peru tech market.
Yes, probably it’s not the brightest choice, but for North American companies and investors, Peru can be considered a gold mine.
For a long time, Peru has been a BPO center, locals also started to develop their own businesses in the IT sector, benefiting from not already skilled, but now even experienced workforce that is able to handle almost all types of digital projects. Even if we are not talking about a startup boom, the already existing IT companies from Peru can compete with North-American companies at certain levels and services.
What you should pay attention to when working with IT companies based in Peru
One thing that Peru misses is the business culture, and along with it - low project management and communication skills that are vital to attracting clients. This is rather a challenge than a missed opportunity, but by the time this challenge will be overpassed, Peru companies will lose their competitiveness.
Are Peruvian Companies reliable?
In terms of reliability, Peru has an important advantage. Professionals that worked for international companies in the BPO are now working for their own companies. The rich experience and connections gained previously, help Peru companies find clients and partners for their digital projects.
How does the Peru tech industry relate to the neighboring countries?
With Colombia and Ecuador as neighbors, the Peruvian IT industry is in full development. But even so, it will take some time to get ahead of them. According to the Global Innovation Index 2020, Peru is in 95th position out of 130 countries, while Colombia is in the 68th position and Peru at 76.
Nonetheless, in the digital era, overnight transformation is real and, if implemented correctly, the reforms in the IT industry can make Peru one of the most developed countries in LatAm.