The Chilean Digital Revolution

With easy access to knowledge banks in innovation centers like Silicon Valley, and increased digital presence amongst the general population, South America is experiencing a rise in high tech entrepreneurship. More established growth markets such as Brazil and Argentina have high internet usage and large pools of talent, but also many hurdles in business start-up. With this, the focus of the digital revolution is now shifting to the overlooked, but fast-growing economy of Chile; where 59% of the population are now internet users, more than 3 million inhabitants subscribe to mobile broadband services, and the number of tech companies has grown substantially in the last several years.

Chile is becoming an entrepreneurial hub, and tech is leading the way, forming Chile’s very own “Chilecon Valley.” Governmental initiatives have helped to fuel this growth, with efforts aimed at decreasing the barriers experienced when starting a business in Chile for both foreigners and Chileans alike. Chile is a tax-friendly, highly competitive market with a talented workforce and outstanding quality of life. Last year was declared the year of entrepreneurship in Chile. This year is the year of innovation. Organizations have sprung up to help entrepreneurs enter the market- most notably Start-Up Chile, a government initiative which incentivizes entrepreneurs wanting to establish their business in Chile.

Chile certainly has the potential to be the leading market for interactive digital advertising in Latin America. So how can Chile’s outstanding connectivity, entrepreneurial mindset, and high economic growth benefit the digital publishing sector?

With the highest GDP per capita in the region, Chilean consumers have the money to spend on technology (and they are), and companies have the money to spend on creating interactive cross-platform publications to excite those consumers.

Innovators in Chilean advertising are looking for ways to diversify. The current ad focus is on television, but the market is increasingly looking to interactive platforms to combine tv spots with the digital world. Digital publishing platforms allow advertisers to reach online and mobile consumers in an interactive way, as well as provide opportunities to integrate with traditionally static visual advertisements such as print or outdoor- which still hold around 37% of the ad spend combined. In a growth market such as Chile, where there is still a disparity between the online and offline population, the ability to mix media types to reach the maximum consumer base is extremely valuable.

Looking toward the future, Chile will continue their growth into a digitally-focused landscape, backed by governmental initiatives and foreign investments. This change will influence publishers and content creators with new challenges and exciting opportunities in advertising. Will you be part of the revolution?

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