In June 2020, in response to the coronavirus, President Trump signed an executive order to freeze access to new H-1B visas for professional and technology workers doing business in the U.S. This has a huge impact, considering in 2019 about 139,000 new H-1B petitions were approved, joining 250,00 which were extended.
A Wall Street Journal article recently posed an interesting question: “Is the world likely to become less flat because of the pandemic?” According to the article, while globalization was the growing trend in the early part of the new century, key drivers such as rising offshore costs, localization and a shift toward services delivery has begun to take some steam out of it.
With a regional GDP predicted to grow at least 2.5% per year over the next 10-15 years, Latin America makes up an enticing emerging market that will soon outpace larger, more established ones. According to Americas Market Intelligence, Latin American e-commerce revenues reached $109 billion last year. The e-commerce market is already substantial, with Colombia and Argentina making up two of the top three fastest-growing e-commerce markets in the world.