Nearshoring in Ecuador
Nearshoring in Ecuador is one of the outsourcing strategies that is becoming increasingly popular because of the various advantages it offers businesses. It is a good option for IT companies that are looking into how to hire nearshore software developers in Ecuador. So, let’s take a closer look at nearshoring in Ecuador.
Outsourcing Development Opportunities in Ecuador
Currently, there are development opportunities in Ecuador thanks to its proximity to the United States. Considering how the nearshoring strategy works, Ecuador represents a country with a very high potential for business growth, since it is located one or two time zones away from 38 of the states in the US. This implies that there are many outsourcing companies for which this hiring strategy could work.
Implementing the nearshoring strategy favors companies close to Ecuador because communication processes are improved when working in similar time zones. In turn, it reduces shipping costs (if the company requires it) and saves on costs related to office rent, the in-house hiring process, et cetera.
Another benefit of nearshoring in Ecuador is the issue of dollarization in the country. Ecuador uses the US dollar as its currency, which can facilitate workers being hired under a stable economy. This will result in low-risk human capital investment, as it is not affected by the economic destabilization of the currency due to internal factors in the country.
Read also: Nearshoring in Latin America
Ecuador is in a good position to adapt and expand the nearshoring business model in neighboring countries due to its geographical location and the high demand for young labor in the country. It will be a matter of different companies choosing to modernize their hiring processes and employ outsourcing as an alternative to have a competitive advantage.