Buenos Aires — Argentina is the third-most attractive country in the world from which to hire remote talent, ranking top in Latin America, ahead of Brazil and Colombia, according to the latest Global Recruitment report by Deel Lab for Global Employment.
Motivated by the exchange rate gap, more and more freelancers are looking for work outside of the country’s borders.
The devaluation of the Argentine peso also means that income in dollars is more competitive in Argentina.
In addition, behind London and Toronto, Buenos Aires is positioned “as one of the top three cities in the world from where talent is recruited,” according to the report by human resources platform Deel.
Most attractive countries for recruiting remote talent
- United States
Remote recruitment by region
In terms of regions that recruit the most remote talent, Asia Pacific is top, and where remote hiring saw fastest growth in 2022, followed by Latin America, and Europe, Middle East and Africa (EMEA), according to the Deel report.
And in terms of which regions supply the most remote talent, Latin America leads, and which also saw the fastest growth of such hiring in 2022, followed by Asia Pacific and EMEA.
Who hires Argentines?
The top five nations recruiting talent in Argentina and the US, the UK, Mexico, Chile and Uruguay.
Most in-demand professions for remote work in Argentina
- Software engineers and developers
Argentine companies join the trend
The Deel report reveals that not only are more and more international companies interested in Argentine talent, but that Argentine companies are also looking to recruit remote talent from outside the country.
“Local entrepreneurs or startups also consider professionals located in other parts of the planet when looking for talent,” the Deel report states.
In the last year, there has been an increase in hiring talent in Uruguay (225%), Mexico (124%) and the United States (93%) by Argentine companies, and Argentina is the third country in Latin America in terms of international hiring, behind Mexico and Chile.
However, getting paid by companies outside the country did not offset a decline in income for Argentine workers. “A 5% decrease in average starting salaries was experienced in Argentina for the second half of the year, along with Nigeria, Mexico, the Netherlands and the United States,” the report states.
Salaries in crypto
Another trend observed to be growing is the receipt of salaries in cryptocurrencies. However, this trend in 2022 was a reflection of the fall in the price of such currencies, with the number of withdrawals in crypto dropping from 5% to 4%.
Dell’s report highlights that in Argentina, the percentage of salaries paid in in cryptocurrencies fell from 34% to 27% from January to December 2022, but was still the highest in Latin America.
A year of layoffs
In a year of adjustment for markets that had a major impact on companies in the tech sector, the report notes that 2022 saw a 107% increase in layoffs across all roles.
“In January 2022, redundancies accounted for 28% of all terminated contracts and, in December, that figure rose to 42%,” the report states.