Yuxi Pacific LatAm

I am proud to announce that Yuxi Pacific has opened our Latin American headquarters in Medellin, Colombia. This initiative fulfills two long-term strategic goals, both bring forth an outsourcing branch in a US timezone and opens the door to for us to reach South American publishers.

The city of Medellin was very attractive to us for a number of reasons.

Investment-friendly environment

The government, through projects such as Proexport Colombia, Ruta-N and Invest in Colombia have made tangible investments in the technology and infrastructure to attract investors. These changes put an emphasis on win-win relationships with investors that provide tax incentives for high-tech companies willing to make an investment into training and stability for the long term.

Strategic location

Medellin is a 4-hour flight from Miami and located in Central Standard Time. This is very important to our customers, who have requested more overlap during US working hours. Opening a branch in Latin America was strategic for other reasons as well. With our recent expansion into the South American market, Yuxi Pacific now has a Spanish-speaking sales and technology force that can connect with our publishing customers and bring solutions that were previously inaccessible.

Deep pool of talented

Of all the Latin American cities we visited, I have been most impressed by the confluence of quality universities and talented technical resources in Medellin. While in China recruiting has been more difficult in recent years, we were able to easily arrange scores of interviews during my visits to Medellin and find talented developers with very relevant work experience.

Low cost of living

It's possible to live in Medellin at a very low cost. In a city where the minimum salary is 550,000 pesos per month ($307), it is possible to both recruit high-quality talent and pay costs that are competitive, if not equal, with China and India.

Favorable currency exchange rate

Though it has strengthened considerably since January, the USD:COP exchange rate currently stands at 1 USD:1786 COP. Over a five year time horizon, the USD:COP is remarkably stable. In June 2008, three years ago, 1 USD:1680. Exchange rates are paramount in choosing an outsourcing destination. Currencies such as the Chinese RMB have conversely seen a slow, steady and controlled rise against the dollar, facilitated through government intervention and pressure from the White House.