Google Inc, the world's biggest Internet-search company, is opening new offices in Latin America and boosting staffing levels by 50 per cent to capitalise on its fastest-growing region.
Revenue from Latin America surged 80 per cent last year, outpacing every other market, Vice President Dennis Woodside said in an interview at the company's Buenos Aires office. Google, which has about 500 people in the region, has opened branches in Santiago, Lima and Bogota to take advantage of the growth, he said.
"What we are seeing is the Internet coming into its own in all the Latin American markets," said Woodside, who handles sales for the Americas, including the US "There are 650 million people in the region, and a lot of them are really coming online for the first time. Our business in Latin America is just booming."
Google is seeking new growth areas to offset a maturing US market and a diminished presence in China, the world's most populous country. The US and the UK accounted for about 60 per cent of the $29.3 billion in total revenue last year, most of which was generated by ads. Google, based in Mountain View, California, doesn't say what portion came from Latin America.
Google rose $3.36 to $613.40 yesterday in Nasdaq Stock Market trading. The shares have climbed 3.3 per cent this year.
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