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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.



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