Indian IT services companies that are dependent on the US and European markets see the emergence of Latin America as an opportunity. The region is politically vibrant, economically booming, has a huge talent pool of multi-lingual, cost-effective professionals, which could be used in a near-shore business model to service their North American clients for 12 hours from the same time zone and the remaining 12 hours from India. A report released by the global market intelligence firm International Data Corporation (IDC) said that the IT services market in Latin America was worth $24 billion in 2011. Growing at 10% per year, according to IDC, Latin America will have an untapped market worth $40 billion by 2016.
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