Peru is now the country with the highest growth rate in Latin America, with an average growth of 6.1% per year over the last decade. This data points to the fantastic opportunities it offers to Spanish companies; in Peru they find a market with a surprisingly advanced level of technology.
For this reason, it was a great pleasure to attend the business roundtable of the Peru Service Summit, from the 6th to the 10th July in Lima, an event focused on technological, entrepreneurial and editorial services.
Our involvement in this fair started in June when, collaborating with Peru’s Commercial Office in Spain, we organised a forum to inform Spanish firms about the country’s potential and the opportunity to attend this major business event. The data collated during this forum indicates that Peru is a stable country, where there’s room for improvement but where the gaps are filling up as it converges with developed countries:
- The technology industry employs almost half a million people in Peru. The Government is currently developing a legal framework for promotion of the industry, considering it an indispensable sector for the country’s futureasa driver of the state’s efficiency and as a productivity catalyst.
- The ICT sector carries weight in Peru’s economy accounting for approximately 4.7% of its GDP, with government estimates that this will increase to 13% in 2016.
- The Government has invested more than 330 million dollars in the creation of digital infrastructure on a high-capacity fibre optic network, with a length of 13.500 kilometres that will be operational in June 2016.
As we can see from both its exports and its specialisation as a subcontractor in technology services, Peru has a broad and successful level of development in technology, especially in Contact Centres and BPO’s for subsectors of the ICT environment and digital contents, including software, videogames, animation, engineering services and 3D architecture, editorial digital sector or digital marketing among others.
This is why the Peruvian market is a source of business and investment opportunities for Spanish companies, which continue to lead foreign direct investment in Peru. It is estimated that there is potential business valued at approx. 120 million euros.
It was a great pleasure to participate in the Peru Service Summit, as we have had the opportunity to return to this wonderful country and enjoy its landscapes and gastronomy.
Aside from the interesting business possibilities we identifed for the Spanish companies we represented, we also met with Peruvian companies which had high levels of quality and sophistication, andfully prepared to establish in international markets, like the Spanish and the European.
With over 40 meetings in less than a week, we were able to access a broad variety of sectors, among them:
- World leading technology companies, such as a software development company focused on electricity supply to rural areas.
- Food franchises with great potential in countries like Spain, as the Peruvian gastronomybecomes popular world-wide.
- Contact centres.
- Business processing outsourcing.
- Web development, web applications, digital strategies, social networks.
- Software development outsourcing.
These were only some of the sectors, generally with high technological levels, that we were able to explore during the Peru Service Summit.
Apart from the opportunity to return to this wonderful country, we were also able to reinforce our relationship with Promperu, the government department responsible for supporting the internationalisation of Peruvian companies. The greater variety and density of international relations within markets make them stronger and more resistant. Therefore, the presence of Peruvian companies in Spain is an advantage, it assists to increase our competitiveness and strengthen the economy.