The City of Buenos Aires is home to the five Argentine unicorns: Mercadolibre.com, Globant, Despegar.com, OLX and Auth0. Additionally, the IT sector represents 4.5% of the city’s formal registered employment, creating more than 79,000 jobs in 20201.
The IT sector includes the following subsectors:
Software and IT system
Data processing and hosting
Design for electronic industry
The sector contributes approximately 3% to the City's GGP2 and, with $1,750 million income for 2018, it represents 27.4% of the total services exported by the City3 and practically 100% of services exported by the Argentine computer industry. The destination of these exports is the United States and Latin America, mostly Chile, Uruguay and Mexico.
The sector has shown a steady growth in the number of companies and employment, both at the national and the local levels, from approximately 1,300 companies and 20,000 employees in 2000 to 3,3000 companies and 75,000 employees in 2018. In the last 2 years, the growth rate of the sector has nearly reached 10%.
On an academic level, the City has approximately 19,000 pre-graduate and undergraduate students studying to information technology, with an annual graduation rate of 5.2% and about 3,000 graduate students with a 10% graduation rate. Buenos Aires academic institutions offer a total of 69 pre-graduate and undergraduate courses, and 22 postgraduate courses4.
The development of this sector is supported by the actions implemented by the Technological District Office, a City-run center for the promotion and development of technology, innovation and know-how of the City. The Technological District Office offers a number of benefits to all the companies situated within the District. Currently, 345 companies employing 20,000 workers are located in the Technological District.
Learn more about the Economic Districts of the City of Buenos Aires, their location, and the benefits each District offers to resident businesses.
1 Source: Observatory on Employment and Business Dynamics (OEDE), 2020
2 Source: General Directorate of Statistics and Census (DGEYC) of the Government of the City of Buenos Aires
3 Source: CABA 2017-2018 export matrix (Wobax), 2019
4 Source: Ministry of Education 2017, 2019