Latin America’s communications sector has been growing steadily since 2004, and significantly in 2009 and 2010, according to figures from greenfield investment monitor fDi Markets.

Its research shows that capital expenditure in the region’s communications sector has gone from just over $3bn in 2004 to more than $12bn in 2010, which was its best ever year in terms of capital expenditure. In terms of project numbers, 2009 was the best year with 70 deals. In 2005 there were barely 20 projects.

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Within Latin America it was economic powerhouse Brazil that received the most projects, with 21 in 2010. Spanish telecom firm Telefonica recently announced plans to establish a subsidiary in Brazil this year. Irish firm Tango Telecom also revealed plans to open an office in the country in 2011.