Social Media and its Potential in Latin America

Abstract

The potential of social media for businesses in Latin America is nearly limitless. Every day, access to the internet throughout the developing world is becoming increasingly
possible and populations are flocking to social media sites such as Facebook and Twitter. A great portion of this growth is in Latin America, which has experienced double-digit
growth in the use of social media and is now the second largest user, worldwide, behind only the United States.[1] Social media in Latin America will provide international and
domestic companies vast opportunities to market their brands, goods and services to a greater portion of the population. As this potential grows in Latin America, there is also
the opportunity to take social media one-step further with online ideation generation. The concept of ideation generation could lead businesses and Latin American countries to
innovations in the business and political arena. All this untapped potential is waiting to be utilized by Latin American governments and businesses. As the region continues to
experience economic growth and a rapidly growing middle class with increasing access to the internet, the power of social media will continue to grow.

[1] Glassman, "What Latin America's Exploding Social Media Means to Brands." 2011