Big Thinking: Nearshoring and Latin America

After the pandemic, the term “nearshoring” became popular in the media. Given the potential implications of this phenomenon on the Latin American region, it is worth exploring it in more detail. Forbes describes nearshoring as a “tactic that allows companies to move their operations to the closest country with a qualified workforce and reduced cost of living without the time difference.” (Maritza Diaz, Forbes, 2021). In essence, nearshoring is a form of offshoring, but with different goals in mind.

Offshoring became popular in the 1980’s as many companies…

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