Cold email outreach is still a novelty there and is not overly used likein North America.
Your response rate will be through the roof. So will be your open rates.
Strict emails rules are non-existent, unlike Canada and US.
The “hot market” won't be small businesses in LATAM, as odds are these businesses won't have the budget for your services, but say 50employees + / 5M+ a year.
Say you are a marketing agency, you can email these LATAM SAAS companies in English and ask them if they'd be interested in making ads in the US. Most want to be paid in USD atm, especially in Argentina.
Try it, you won't be disappointed :°)