The major focus for IT outsourcing in South America is Brazil, partly because of its sheer size, with its population of nearly 200 million people, versus about 41 million in Argentina.

While Sanford was back in South Carolina this week trying to explain his disappearance, Antonio Gil, president of the Brazilian Association of Information and Communication Companies, was in New York selling Brazil as an offshore location.

"Companies are looking for alternatives to India," partly to of having operations focused in any one country, Gil said. "People are trying to diversify."

Also, Gil said, from the U.S., there are 150 direct flights a week to Brazilian cities.

He said the overall outsourcing market in Brazil is about $2 billion and growing about 20%. By comparison, India's offshore market is about $40 billion.