Panama, Bolivia, Costa Rica fast movers in digital economy

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Friday, September 1, 2017

Digital transformation will be one of the main drivers of economic growth in Latin America over the next decade, with Panama, Bolivia and Costa Rica among the fastest growing economies, according to consultancy Frost & Sullivan.

Nonetheless, Brazil and Mexico will still account for 45% of regional GDP in 2025, which is forecast to total US$7.3tn, according to the report.

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In 2025, the region will have 2.5bn mobile devices, 85% internet penetration and 459mn mobile broadband users.

The mobile economy will contribute US$360bn to regional GDP, with B2C commerce totaling US$101bn.

Main drivers of digital transformation will be mobility, big data, loud computing and IoT, the consultancy added.