Cisco: Ecommerce to Reach US$15bn by 2003

Ecommerce in Latin America will reach US$15bn by 2003, of which US$13bn would correspond to the B2B sector, according to Cisco Systems (www.cisco.com) senior VP Howard Charney. This projection is possible despite the low Internet penetration rate in the region (around 2%) and the fact that ecommerce is still an untapped market in Latin America, as most people are still buying on internationals sites and only 4% of websites are in Spanish or Portuguese. Charney was speaking at Networkers 2000, a meeting of Cisco's Latin American users, held yesterday in Argentina.