Technology
Sector Overview
In
the last few years, the Ecuadorian export community has
stumbled upon a nontraditional export product: information
services, particularly software.
Along
with other Latin American countries, Ecuadorian companies
and citizens have participated in the growing worldwide
clamor for information services, both as consumers and producers.
A 1999 study by Price Waterhouse Coopers under the direction
of the Business Software Alliance (BSA) showed that 1998
software packet sales in Latin American countries reached
approximately $3,500 million and are expected to hit almost
$7,000 million in 2002. The industry is expected to employ
almost 200,000 people in 2002, more than 60,000 more than
were employed in 1998.
The
growing industry is also proving to be an important economic
benefit to the country. The same study showed that software
development generated $1.2 million in 1998; this figure
is estimated to double in 2002. Clearly, software development
in Ecuador is a growing industry that should prove to be
a valuable investment opportunity.
Software
development in the country has primarily been focused on
software for financial institutions in Ecuador and abroad;
in addition, Ecuadorian companies have provided software
in Spanish for inclusion into the products of corporations.
