Love Your Neighbor: The Win-Win of Nearshoring Economies
From before memory can recount, humans have valued a good trade. Solidarity was born of a mutual need for one another and the knowledge that collaboration compounds benefits. In this sense, and despite the novelty that modernity brings, people haven’t changed. Now, however, this mentality manifests on more than just a neighbor-to-neighbor interaction. Our twenty-first century further privileges a digital world of global teamwork. And at this scale of collaboration, working with international neighbors by developing nearshoring economies, we can achieve truly advantageous results.
Nearshoring looks to create a digital team across political, social, and linguistic borders. However, rather than spreading to any country worldwide, the nearshoring strategy keeps its offices in the same relative time zone. It increases efficiency and mitigates large cultural misunderstandings, while at once increasing company capital and boosting the local economy on an international level. In short: nearshoring creates a cutting-edge digital team that also follows the age-old and mutually-supportive, “love your neighbor” standard (Why, 2019).
We see evidence of this reciprocal benefit when looking not only at the countries nearshoring economies but also at their trends of development. Mexico, for example, is now one of the world’s leading tech hubs, housing a large squad of nearshore-employed programming experts (Pymnts, 2017). U.S. and Canadian enterprises have built expert teams south-of-the-border, as high-quality employment comes cheaper than in these northern countries. The strategy allows the companies to support a large and diverse team, while at once spreading jobs and training over an international population. This influx boosts the Mexican economy, of course; but, it also has augmented the demand of digital-savvy consumers within Mexico itself, and thus driven the market’s development of digital products. Now, the country is home to a number of its own IT startups, even considered “the next Silicon Valley” (Wittman, 2017). Its infrastructure likewise continues in response to this techy demand– creating specialized high schools that prepare students for top university IT careers (Salas, 2017), and bolstering a digital government service system (Flannery, 2013).
For both Mexico and its northern neighbors, nearshoring collaborations have proven themselves a tactic of mutual elevation. Economically-sustainable and culturally stimulating, the strategy uses digital innovation to connect ideas. Further, it connects populations and cultures, to boost the teamwork that has always looked for shared benefit. It creates reciprocal learning through close international partnerships, nearshoring the way to being good neighbors.
WebCreek specializes in creating custom software solutions and working with various nearshoring economies. Contact us to start the conversation for your next big idea.