Survey Finds Majority of Companies in Knowledge Economy Expect Export and Employment Growth as a Result of Argentine Economic Reforms”.

By Eleanor Harrison Mar25,2024
Anticipated economic reforms by Milei set to boost Argentine knowledge economy

A study by Argencon, a business organization, found that 80% of companies surveyed anticipate growth in exports due to the government’s liberalization policies. The survey, which included 28 companies in the knowledge economy sector, showed that half of the respondents expect export growth to exceed 10%.

Knowledge-based services exports had reached $8.06 billion in the first half of 2023, representing an annual increase of 8.8%. The majority of companies represented in the study were from the information technology sector, professional services, marketing, bioscience, bioeconomy, and other areas.

The survey results also showed that 70% of respondents anticipate an increase in employment, with more than half projecting growth of over 10%. Professional services companies are particularly optimistic, with 33% expecting growth of more than 20%. However, access to foreign currency and the absence of exchange rate unification were highlighted as major challenges by the respondents.

Argencon’s president, Sebastián Mocorrea, stated that regulatory complexity and labor market reforms will enhance the international competitiveness of the knowledge economy. This will lead to a significant increase in employment and exports. He added that digital talent and English skills issues were also identified as obstacles by entrepreneurs.

Looking ahead to market demand for knowledge-based services in Latin America aligning with global growth rates is believed by 45%, while another 45% anticipates higher demand. Entrepreneurs express cautious optimism about the positive impact of economic reforms on their sector.

In summary, Argentine entrepreneurs are feeling positive about economic reforms implemented by President Javier Milei’s administration as they believe these changes will lead to increased employment opportunities and boost exports in knowledge economy sector. A study revealed that over 80% of companies surveyed anticipate growth in exports due to government’s liberalization policies while more than half project an increase in employment with more than half projecting growth over 10%. Despite challenges such as access to foreign currency and exchange rate unification being highlighted as major obstacles by respondents; regulatory complexity and labor market reforms are expected to enhance international competitiveness leading to significant increase in employment and exports

By Eleanor Harrison

As a content writer at newseasoning.com, I infuse flavor into words, crafting compelling stories that captivate and inform our audience. With a keen eye for detail and a passion for creativity, I strive to create content that not only engages but also inspires. Whether I'm concocting a savory blog post or whipping up a spicy product description, I pour my heart and soul into every piece I write. Join me on this flavorful journey as we explore the tantalizing world of content creation together.

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