During an interview with Rest of the World, Dan Westgarth, chief operating officer at Deel, a global remote payroll company, explained that remote workers in Latin America are currently in the most demand but not necessarily only due to costs.
During the interview, Dan revealed that hires in Latin America grew by 161% in the first half of 2022 compared to 2021, and they have been mostly tech workers.
In terms of countries, Argentina dominates the world ranking as the top place to hire software engineers and product managers. Secondly comes Brazil.
One of the main challenges of hiring in the region is in terms of payment – countries like Argentina have exorbitant inflation and dollar restrictions.
“We’re also seeing people choosing to be paid in cryptocurrencies. Those coins can then be invested and will earn a yield. Being paid with crypto happens in other places for different reasons. In the Caribbean, we see a lot of people using crypto because the transaction settles much faster than in the banking system. And we also see people who get paid and immediately buy Bitcoin as an investment instrument.” Dan Westgarth
Additionally, most companies stated that the main reason they hire talent across borders is mainly because of talent. Companies are willing to hire for the skills, not for the benefits of geographic locations.