Mexico City: Largest Tech Talent Market in Latin America

Mexico City has once again been ranked the largest technology talent market in Latin America, according to CBRE’s annual Scoring Tech Talent report, which analyzes labor trends across the Americas. “Mexico City continues to grow as a technology hub, graduating a large number of technology professionals from leading universities and offering affordable labor and real estate costs,” said Yazmín Ramírez, Senior Director of Labor Analytics, and Location Incentives LATAM, CBRE.

The city’s technology workforce reached 320,000 professionals in 2024, nearly doubling over the past five years with a 95% increase. This places Mexico City second in growth rate among 11 Latin American markets tracked by CBRE, behind only Monterrey, which reported a 112% increase.

The study evaluates markets based on overall technology employment, five-year employment growth, average wage growth, technology degree completions and their five-year increase. Mexico City led in workforce size while maintaining competitive labor and real estate costs compared to many North American cities.

“This rapid workforce growth is attracting manufacturers, software and engineering companies and other firms seeking to relocate operations to the Americas,” said Ramírez. 

CBRE’s 12th annual report ranked 75 US and Canadian cities using metrics such as technology employment growth, degree attainment, labor and real estate costs, and millennial population. The San Francisco Bay Area topped this year’s ranking, followed by Seattle, Toronto, New York and Austin.

Latin American markets, including Mexico City and Monterrey, have been featured in the study for six consecutive years. Rankings are compiled based solely on the size of each city’s technology workforce, while the report also examines salary growth, office rent averages and educational outcomes.