The content has been shared, if you want to share this content with other users click here.
Google is boosting its investment in Latin America after the company's revenues in the region grew 80% last year, Bloomberg quoted Google VP Dennis Woodside as saying.
Woodside said that with 80% growth, Latin America is outpacing every other market for Google. To capitalize on this, the company plans to increase its personnel in the region by 50%, while also opening new offices.
"What we are seeing is the internet coming into its own in all the Latin American markets," Woodside said. "There are 650mn people in the region, and a lot of them are really coming online for the first time. Our business in Latin America is just booming."
Google currently has about 500 employees in the region and recently opened branches in Santiago, Lima and Bogotá.
According to Bloomberg, Google has been looking for new growth areas to offset a maturing US market and diminishing presence in China.
In 2010, the US and UK accounted for a reported 60% of Google's US$29.3bn in total revenue, generated mostly by advertisements. The company did not say what portion of that amount came from Latin America.