Talking about Latin America as a region always presents some difficult challenges. For starters, Latin America is made up of several countries with different economic, political and cultural conditions. In addition, information in most of these countries is not always easy to find and may even be contaminated or incorrect. However, there is at least one characteristic that seems abundant in all the countries of that region: talent.
The business wave has hit Latin America hard, and seems to be gaining momentum. A new generation of millennials and post-millennials, led by a group of young entrepreneurs between 30 and 50 years old, believes that it can improve lives by creating new and better solutions to everyday problems.
The phenomenon manifests itself everywhere, not only in Latin American cities. I have had the opportunity to visit several cities in this region, in addition to Asia, Africa and Europe that are not considered as business centers or generators of innovation, but have now clearly caught a business fever that is being promoted at all levels of the society, government, industry and academy.
However, Latin America seems to be at a fundamental stage. Let’s start with demography: the median age in the region of 27 years, and in most countries, more than 50% (or very close to this percentage) of the population is under 30 years old. This contrasts sharply with the more developed countries with less youth. However, the demographic advantage will not last forever; It is estimated that by 2050, the average age in the region will increase to 41.
Education in Latin America is another crucial factor to consider. Enrollment in higher education in the region has increased from 21% of the population to more than 45% in the last 15 years. Even the poorest 50% of the population receives a higher education, and enrollment increased from 16% to 25% between 2000 and 2013. This means that not only is there a large population of young people, but many of these young people of working age They are well educated.