The Nearshoring Playbook: Decoding the Future of Global Operations
“The Nearshoring Playbook” brings together thought leaders Malay Verma and Rajeshwar Mitra, co-founders of Greymatter Innovationz, to explore the forces transforming how global businesses operate. In this episode, they decode why nearshoring to Latin America (LATAM) is no longer just a temporary solution — it’s become the default global strategy.
The Shift from Trend to Default Strategy
When Arjun asked Rajeshwar why nearshoring has become a default approach rather than a passing trend, Rajeshwar emphasized two defining factors: resilience and talent.
After the global pandemic and ongoing geopolitical shifts, organizations realized they cannot afford overdependence on a single region. Nearshoring offers the “plus-one diversification” model — giving companies the flexibility and risk mitigation they need in uncertain times.
Secondly, the talent equation has changed dramatically. The U.S. faces a projected shortage of 1.5 million tech professionals by 2030. Meanwhile, LATAM boasts close to 5 million IT specialists, with Mexico producing 130,000 STEM graduates annually and Colombia contributing another 80,000.
More than numbers, LATAM’s workforce is bilingual, culturally aligned with the U.S., and operates in similar time zones, making collaboration seamless. Major corporations like AstraZeneca, Ford, Citi, and Oracle have already invested heavily in the region, embedding nearshoring deeply into their global operating models.
LATAM’s Rapid Growth and Corporate Adoption
Malay highlighted how perceptions of LATAM have evolved over the past five years. Earlier, only Costa Rica was on the radar for tech support and contact centers. Colombia, once overlooked due to historical and political biases, is now emerging as a dynamic global destination.
Data reinforces this bullish momentum — LATAM has seen 35–38% growth in global service consumption over just four years. Nearly 70% of large U.S. enterprises already have or are actively building footprints in the region.
Local governments have further fueled this rise by offering tax breaks and exemptions, encouraging global organizations to explore and invest in their talent ecosystems.
The Momentum Is Real
Malay concluded by noting the scale of expansion within the region. Companies that started with small captive centers of 200–300 employees are now operating with 1,200+ professionals. Service providers are scaling fast, serving not just local markets but supporting global customer needs.
After three and a half years of on-ground operations, the Greymatter team sees a clear bullish trend — LATAM is not just participating in the global operations landscape; it’s rewriting it.
Key Takeaway:
Nearshoring has evolved from being just a cost-saving move to becoming a smarter, growth-focused strategy. Today, LATAM is leading this shift—offering the talent, alignment, and scalability that global companies need to succeed.
