President Ivan Duque of Colombia has stated that he wants to bring Silicon Valley to his country to help boost country resources and employment numbers. As he says, “we also wanted to have more start-ups in the creative and technology sectors” (Embling) to provide economic stability and push Colombia into a new period of growth.

This could be an extremely beneficial move for Latin American countries because Silicon Valley has become one of the most successful companies in the world. The numbers already show that if Silicon Valley were its own country, it would be one of the richest in the world. Its GDP (gross domestic product) is over $128,300 per capita. That means the average person who works in SV makes six figures each year. Whew. Also, major tech businesses are producing their goods in international silicon valleys like Google, Apple, Wells Fargo, Visa, and a bajillion more.

The original SV started and mostly remains in the San Francisco Bay Area of California. But as I alluded to before, the idea of Silicon Valley has gone global, and there are already a couple versions of it scattered across the world. To name a few places, it has spread to Switzerland where it’s called Crypto Valley and to London in its East London Tech City (also unironically known as the Silicon Roundabout). So, the concept of one being built for Colombia wouldn’t be foreign—pun intended—but a fantastic start to another great tech development. ¡Buena suerte!

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Source(s):

Embling, Damon. “Colombia Hoping to Be 'Latin American Silicon Valley,' President Tells Euronews.” Euronews, Euronews, 24 June 2019, www.euronews.com/amp/2019/06/24/colombia-hoping-to-be-latin-american-silicon-valley-president-tells-euronews.