The liberalization policies implemented by President Javier Milei’s administration are giving hope to Argentine entrepreneurs in the knowledge economy sector. A recent study by business organization Argencon found that 80% of surveyed companies anticipate an increase in exports as a result of these policies. Half of the respondents even expect export growth to exceed 10%.
The survey, conducted in the first quarter of 2024, included 28 companies from the knowledge economy sector. Information technology and professional services industries had majority representation, with smaller contributions from marketing, audiovisual services, bioscience, and other areas. According to a report from the first half of 2023, exports of knowledge-based services in Argentina reached US$8.06 billion, showing an annual increase of 8.8%.
Looking forward, 70% of respondents anticipate a growth in employment rates, with over half of them expecting a growth of over 10%. Professional services companies are particularly optimistic, with 33% foreseeing a growth of more than 20%. However, challenges such as difficult access to foreign currency, exchange rate volatility, regulatory complexity, and limitations on paying salaries in US dollars were mentioned as potential obstacles to growth.
Despite these challenges, Argencon’s president believes that removing foreign exchange restrictions, stabilizing exchange rates