LATAM (Latin America)

LATAM is an acronym that stands for Latin America, and it refers to the region of the world spanning from Mexico in North America to the continent’s Southern tip. In terms of procurement, LATAM often refers to the sourcing of goods and services in Latin America, either domestically or cross-border. This region is becoming increasingly important for businesses due to its high potential for growth in certain industries and its strong concentration of natural resources. Companies seeking to enter into international markets or expand their presence should consider LATAM as a viable option.