Business

Facebook is likely to end 2020 with more than half of Latin America's population using the app

The forecast was made by Insider Intelligence

Facebook Watch icon on a smartphone screen
Photo: Grey82/Shutterstock

According to Insider Intelligence, Facebook is likely to reach almost 339.5 million users in Latin America – more than half of the region’s estimated population – by the end of 2020, an 8.8% growth over 2019. This growth will be achieved thanks to the digitization push caused by the COVID-19 pandemic, as people turn to virtual means to stay connected with family and friends.

Next year, with vaccines reaching a part of the region’s population and activities being resumed, the consultancy expects a deceleration of the company’s growth.

As the company approaches saturation in more consolidated markets, investing in high potential growth regions such as India and Latin America makes sense.

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