Figueroa will fly in to Birmingham this weekend and join up with his new team-mates on Monday for training at Wast Hills following his signing from Rosario Central last week, on a five year contract, subject to Blues obtaining a work permit.
And Bowen believes Blues have taken a big gamble with the prolific goalscorer, who has just broken into the Argentinia international side.
"We’ve seen him play and score lots of goals in Argentina and he really looks the part," Bowen told the clubs official website.
"It's always a gamble bringing in a player from another club, as it was with Christophe Dugarry.
"And it is even more so if they come from outside the Premier League.
"The Premier League is a totally different league from any other league in the world and a player's success depends very much on how he copes with that.
"But, if as we hope it pays off, Figueroa could easily be worth £10 or £15 million in years to come."
And Bowen believes Blues have taken a big gamble with the prolific goalscorer, who has just broken into the Argentinia international side.
"We’ve seen him play and score lots of goals in Argentina and he really looks the part," Bowen told the clubs official website.
"It's always a gamble bringing in a player from another club, as it was with Christophe Dugarry.
"And it is even more so if they come from outside the Premier League.
"The Premier League is a totally different league from any other league in the world and a player's success depends very much on how he copes with that.
"But, if as we hope it pays off, Figueroa could easily be worth £10 or £15 million in years to come."