Latin America is a group of countries which are located in the Western Hemisphere and where Spanish, Portuguese and French are most-spoken languages. Most of Latin American countries are in South and Central America. Despite fitting the definition, areas of Canada and United States where English is not the predominant language are not referred to as Latin America. The Latin American economy is an export-based economy, mostly consisting of agriculture, petroleum and manufacturing. The main Latin American economies are Argentina and Brazil, with large GDPs and strong rates of growths in last few years. Still, many countries in Latin America still suffer from high crime rates, low education and human development. Because of these factors, Latin American countries have yet to establish a strong fintech and innovation-based industry.