Facebook’s growth may have slowed in recent years, but the pandemic is d💙riving it to new heights in Lat♎in America.
As Facebook has achieved market saturation in many parts of the world, its growth has naturally slowed. As Business Insider points out, however, the has been a significant gro🍨wth factor for Facebook, especially in Lati💜n America.
“In Latin America specifically, we now expect the number of Facebook users to grow by 8.8% in 2020 to 339.5 million, up from 7.3% in 2019 and more than triple the growth we originally expected for this year (2.8%),” BI’s Daniel Carnahan. “And for the first time, Facebook’s penetration in Latin America will reach over half of the population, at 53%.”
It remains to be seen if Facebook can sustain its growth rate, and seems likely it will not once things return ♕to normal. Nonetheless, its growth rate in Latin America is good news at a time when the company is under siege from multiple angles.