As the information technology enabled services (ITES) sector becomes more competitive and globalized amidst escalating costs to outsource in Asia, organizations are quickly looking to re-locate their outsourcing operations to offshore destinations like Belize, which offers the same agility, access to new markets, talent and ultimately cost savings. The business process outsourcing (BPO) industry has specifically been recognized as a specialized “niche” area and priority industry for Belize’s socio-economic growth by the government of Belize (GOB) as well as the private sector.
Historically, the offshore outsourcing sector of Belize has experienced tremendous growth of over 80% in the past few years, starting with only one (1) center opening its doors in 2005 to over 20 centers presently employing over 2,400 agents. Various operations of diverse sizes are underway along with several investments in the exploratory or planning stages. Most centers in Belize currently focus on inbound and outbound call center operations, since it is the only Latin American and Caribbean location offering the dual advantage of being a cost effective location, with ‘accent neutral’ English language skills; English being the official language. Belize also hosts a 51.26% Spanish speaking population, making it a truly bilingual destination. (2010 census SIB)
Though a new player in the global outsourcing industry, the Belize offshore outsourcing sector is on a strong growth trajectory owing to the advantages of a young population, natural flair of a service based economy, a competitive business environment, world class telecom infrastructure, specialized incentives and strong active government support. Furthermore, Belize is a great value destination due to its high workforce availability, salaries that are 60-80% lower than US locations and low attrition rates of less than 5%. Belize City, the largest city in Belize, is the hub for outsourcing activities and also home to some of the largest BPO’s offering a range of services, including: voice/non-voice customer support, sales, data processing, and documentation services. Ladyville, Belmopan, San Ignacio, Corozal and Orange Walk are some of the other emerging areas of opportunity.
Indeed, Belize has an established BPO industry that has been registering considerable growth over the past few years, alongside active government support for the national BPO Strategy concluded in 2013 and continued investments in the industry’s infrastructure, labor pool and ecosystem. The existing employee base of 2,400 agents is expected to touch over 3,000 agents by 2016, which continues to provide employment opportunities to local populace. With call center wages as low as US$2.25 at entry level and US$5.00 to 6.00 at supervisory levels, Belize offers one of the most competitive cost to value quotients in the Latin American and Caribbean region.
As Belize’s outsourcing services sector continues to grow, service providers have diversified into new service areas including information technology outsourcing (ITO) and knowledge process outsourcing (KPO). Currently, outsourcing service providers in Belize offer a cadre of I.T. services including technical support, software development, programming, web design, data processing and e-marketing. Professional services also continue to remain at the forefront of trade in services as various organizations and developments benefit from the myriad of cost effectiveness and competitive advantages that Belize has to offer in this space. Some of these professional services include: legal, financial accounting, auditing, taxation, architectural, engineering, virtual management, business consulting and research and development.
Competitive Advantages for Belize
Historically, the offshore outsourcing sector of Belize has experienced tremendous growth of over 80% in the past few years, starting with only one (1) center opening its doors in 2005 to over 20 centers presently employing over 2,400 agents. Various operations of diverse sizes are underway along with several investments in the exploratory or planning stages. Most centers in Belize currently focus on inbound and outbound call center operations, since it is the only Latin American and Caribbean location offering the dual advantage of being a cost effective location, with ‘accent neutral’ English language skills; English being the official language. Belize also hosts a 51.26% Spanish speaking population, making it a truly bilingual destination. (2010 census SIB)
Though a new player in the global outsourcing industry, the Belize offshore outsourcing sector is on a strong growth trajectory owing to the advantages of a young population, natural flair of a service based economy, a competitive business environment, world class telecom infrastructure, specialized incentives and strong active government support. Furthermore, Belize is a great value destination due to its high workforce availability, salaries that are 60-80% lower than US locations and low attrition rates of less than 5%. Belize City, the largest city in Belize, is the hub for outsourcing activities and also home to some of the largest BPO’s offering a range of services, including: voice/non-voice customer support, sales, data processing, and documentation services. Ladyville, Belmopan, San Ignacio, Corozal and Orange Walk are some of the other emerging areas of opportunity.
Indeed, Belize has an established BPO industry that has been registering considerable growth over the past few years, alongside active government support for the national BPO Strategy concluded in 2013 and continued investments in the industry’s infrastructure, labor pool and ecosystem. The existing employee base of 2,400 agents is expected to touch over 3,000 agents by 2016, which continues to provide employment opportunities to local populace. With call center wages as low as US$2.25 at entry level and US$5.00 to 6.00 at supervisory levels, Belize offers one of the most competitive cost to value quotients in the Latin American and Caribbean region.
As Belize’s outsourcing services sector continues to grow, service providers have diversified into new service areas including information technology outsourcing (ITO) and knowledge process outsourcing (KPO). Currently, outsourcing service providers in Belize offer a cadre of I.T. services including technical support, software development, programming, web design, data processing and e-marketing. Professional services also continue to remain at the forefront of trade in services as various organizations and developments benefit from the myriad of cost effectiveness and competitive advantages that Belize has to offer in this space. Some of these professional services include: legal, financial accounting, auditing, taxation, architectural, engineering, virtual management, business consulting and research and development.
Competitive Advantages for Belize
- Neutral English Accent – Only Central American country with English as the official language offering a young and adaptable workforce.
- Bi-Lingual Language Skills – Only Central American and Caribbean country with truly bi-lingual capabilities (English and Spanish).
- Cultural Affinity – Labor force is influenced by U.S. media, trends and customs with historical affinity to the Commonwealth system as well.
- Time Zone Advantage – Belize mirrors U.S. Central Standard Time (CST).
- Competitive Salaries – agents cost 60 – 80% less than average U.S. location.
- Stable Currency – Belize Dollar (BZD) fixed at 2:1 against U.S. Dollar (USD).
- Telecom Infrastructure – Modern telecom infrastructure using 2 main fiber optic hubs (ARCOS & TELMAX) and a third to come with high redundancy rates nationally
- Stable Environment – One of the most stable Political, Social and Professional Business Environments in Central America.
- Ease of Employment – Easy availability of work permits for non-residents and expatriates requiring no visa for U.S., Canada, EU and the Caribbean Community.
- Geographic Proximity – Within 2 to 4 hours of direct flights from key U.S. cities while also being situated in Central America with links to the Caribbean region.
- Strong Government Support – Offshore Outsourcing identified as a priority sector and a national BPO strategy has been developed alongside subsidized training
- Incentive Programs – Multiple incentives including Free Repatriation of Profits, Dividends and Capital, etc.
- Regional Integration – Belize is signatory to multiple FTA’s and Double Taxation Avoidance Agreements including Regional Trade Agreements and Partial Scopes with the EU, Caribbean Community (CARICOM) and Central America.
- Top Tourist Destination – Prime Tourist / Retirement Location in the Central American and the Caribbean region.
- International Connectivity – Belize offers direct flights from Dallas, Houston, Charlotte, Atlanta and Miami as well as connectivity to Central America.
Investment Opportunities
Currently, Belize City is the major hub for BPO operations in Belize; however, there are local investors and operators seeking to shift the center of focus to other areas, such as: the Capital City of Belmopan, the Western Cayo district, the Northern Towns of Orange Walk and Corozal and in the Southern Towns of Dangriga and Punta Gorda. These untapped locations would enable any potential outsourcing investor to experience the first mover advantage in a growing sector nationwide.
There is also the opportunity to build commercial buildings and data tech parks that are outsourcing specific offering incubator and turnkey BPO solutions. Ample opportunities in the value added service areas of ITO and KPO are also available through Belize’s current talent pool.
