Technology Outsourcing and the Region's Bets

Because companies dedicated to the provision of services are more effective than product manufacturers and their growth is more accelerated, economies such as those of Central America could bet on the outsourcing of technology services.

Friday, February 19, 2021

In this context of sanitary and economic crisis, generated by the covid-19 outbreak, several economic sectors were affected due to the restrictions imposed, but, in contrast, companies involved in the provision of technological services reported a significant growth.

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In addition to being favored by the current situation, companies specialized in services are more efficient than product manufacturers, assures Fabrizio Opertti, manager of Trade and Integration of the Inter-American Development Bank (IDB).

Opertti told Prensalibre.com "... services exports have been more resilient during crises such as the one in 2008 and managed to expand. During the pandemic has not been the exception and some technological services grew by almost 10%."

For economies such as the Central American ones to be able to boost the technology outsourcing sector, it is necessary to increase the supply of human capital and create curricular programs to adapt to the needs of the current market, the specialist points out.

See "Potential Demand for Enterprise Software"

According to Devadit Barahona, director of the Services Sector of the Guatemalan Association of Exporters (Agexport) "... worldwide, the services sector is the leader in the economy, representing 70% of GDP, 60% of employment and 46% of exports measured in terms of value added."

In Guatemala, during the closing of 2020, foreign currency was earned from service exports for US$934.1 million, and the commission that grew the most was Information Technology Outsourcing (ITO) with 25.8%, equivalent to US$197 million, the main market was Barbados and opened new markets such as Pakistan, Saudi Arabia and Malaysia, the article states.

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More on this topic

Growth in BPO Businesses in Nicaragua

August 2017

The service outsourcing industry in the country generated a yearly revenue of $6 million in 2008, and nine years later, the industry's revenue is close to $150 million.

Currently 45 companies operating under the free zone regime are engaged in outsourcing services in the country. This figure far exceeds that of 2007, when there were 12 companies in this sector. The incentives provided by the free zone scheme, coupled with the low labor cost demanded by these types of service centers, explain much of the growth that this market has experienced in the country. 

Regional Forum On Promoting Services

March 2017

From March 15 to 16 more than 400 local and international companies in the service sector will be holding business meetings during the OUTSOURCE2LAC business forum in San Jose, Costa Rica.

From a statement issued by PROCOMER:

San Jose, March 3, 2017. The largest gathering of service companies based on knowledge of Latin America will be meeting in San Jose, Costa Rica, on March 15 and 16. OUTSOURCE2LAC is a business conference organized by the Inter-American Development Bank (IDB) and the Foreign Trade Promotion Office of Costa Rica (PROCOMER), which aims to share best practices and experiences of the sector and to promote the creation of opportunities for business and investment for SMEs in Latin America and the Caribbean.

Guatemala: 15% Growth in BPO Sector

January 2015

During 2014 the industry for business process outsourcing generated sales of $397 million, an increase of 15% compared to 2013.

From a statement issued by the Guatemalan Exporters Association (-AGEXPORT-):

Entrepreneurs in the IT & BPO sector at AGEXPORT, made up of enterprises working in Software Development, Development and Digital Content, Contact Centers and BPO's, announced that at the close of 2014 there was growth of 15%, positioning Guatemala as emerging market in the industry of outsourcing services.

Exceltec expands operations in Costa Rica

May 2009

With an investment of $3.5 million, the company extended its telemarketing and collection management segment services.

Exceltec is a company that provides information technology and business process outsourcing services. It will hire 111 employees between June and December 2009 to expand its telemarketing and collection management service operations.

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