Facebook’s growth may have slowed in recent years, but the pandemic is driving it to new heights in Latin 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 pandemic has been a significant growth factor for Facebook, especially in Latin 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%),” writes 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.