According to TeleGeography, Chile is the country that leads the region in broadband penetration.

Chile has seen an uptick in broadband service packages from its two largest telcos, America Movil and Telefonica, and the cable operator Liberty Global.

Between 2009 and 2011, Chile's DSL subscriptions were up 15 percent, while cable subscriptions grew 32 percent.

In Q3 2011, 63 percent of Chile's broadband customers signed up for broadband connections of 2 Mbps, a 34 percent increase over the same period in 2010.

What helped drive service providers to offer faster broadband speeds was what TeleGeography called a "customer-focused regulatory environment and highly competitive broadband market." In addition, the country's two main telecom regulators, Subtel and TDLC, have driven various initiatives, including net neutrality, affordable pricing, and competition regulations.

The government is also playing a role in driving Latin America's overall broadband adoption through targeted initiatives to encourage broadband investment. As a result, Latin American broadband penetration has grown from as low as 3 percent in Q3 2004 to 29 percent by Q3 2011.

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