Service exports: a crisis-resistant sector with room to grow
Service exports are a growing industry worldwide, and Argentina has made efforts to not miss out. But a deep look at the sector suggests that it still has a lot of room for growth, with the country’s workforce ranking high in technical and language skills, as well as being close to the United States’ time zones.
Despite its promise, even this sector is not immune to the economic and political uncertainty the country faces, with a late-2018 emergency tax hike on exports and the return of exchange rate controls acting as deterrents on investment.
But currency devaluation and bi-partisan efforts to promote the sector such as the 2019 knowledge economy bill, which introduced multiple tax benefits, mean that there are renewed reasons for optimism in a business that has been moving upwards since the turn of the century.