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 "... 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.

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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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