Economics
Argentina’s Tech Firms Lead Job Recovery Amid Company Exodus
- Tech companies boosted by venture capital investment in LatAm
- Argentina’s recovery marked by job gains but fewer employers
Shoppers stand in front of a store in the San Nicolas neighborhood of Buenos Aires, Argentina, on Thursday, Sept. 17, 2020.
Photographer: Erica Canepa/BloombergThis article is for subscribers only.
Argentina’s tech sector is a bright spot that’s adding jobs even as many companies shut down in a hostile environment of anti-business policies, high inflation and lack of access to international credit markets.
Tech is the only major private industry that’s gained new employers since a three-year recession began in 2018, according to data from tax agency AFIP. Manufacturing, construction, finance, tourism and transportation all lost companies over the same period. During the past two years, the number of software jobs increased 18%, while overall private sector positions declined by 4%, Production Ministry data show.