The purpose of this article is to analyze the present tendencies and characteristics, as well as the present and future perspectives of the process of internationalization in Latin American universities, in light of the results yielded by studies carried out in the region by the World Bank and the European Commission. Emphasis will be placed on the extent to which the characteristics specific to the universities in the region, product of their particular sociohistorical situation, and the challenges and shortcomings they present at the beginning of the 21st century, hinder or help their response and ability to adapt to the global context. (Contains 2 notes.)