5 Most Technologically Advanced Countries in Latin America

2. Chile

Insider Monkey Tech Advancement Score: 56.1

The IT sector is one of Chile’s fastest growing and among the most important industries in the nation, with the total market worth nearly $9 billion in 2021, which itself was a huge growth of 35% as compared to 2020. In 2021, the IT industry accounted for nearly 3% of the country’s total GDP. Chile has one of the highest mobile connections in the entire region at 137% and launched 5G in 2021, with more than $3.5 billion being invested for this launch, which is expected to heavily improve business in the country. Currently, there are more than 8,000 IT companies in Chile though many are very small in size and focused on B2B and software development.