Leading authority on global digital services, Nearshore Americas has ranked Guyana in the top 10 Business Process Outsourcing (BPO) value destination in Latin America and the Caribbean for 2024.
President Dr. Irfaan Ali’s unwavering commitment to advancing Guyana’s Business Process Outsourcing (BPO) sector began to take shape with the implementation of fiscal incentives and various forms of support such as skills development in the labor force. This dedication was further highlighted in 2022 when the Guyana Office for Investment held the first stakeholder meeting with the various BPO operators in Guyana. The mission was clear, to magnify Guyana’s profile as a premier Nearshore BPO destination and create 10,000 jobs in the sector by 2025.
This target was backed by strategic government initiatives, including the introduction of coding and ICT skills training from grade school through secondary school, ensuring a future-ready workforce.
Recognizing the opportunities for employment in this sector, the government’s dedication is evident in the substantial investments and supportive policies that have propelled this sector forward. More than $2 billion has been invested in constructing readymade call center shells, strategically located across the country in regions such as Region Two, Region Five, Region Six, Tuschen, Enmore, and Linden. This infrastructural development is complemented by extensive training programs for new recruits and a focused effort on enhancing ICT literacy.
Senior Minister within the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh has repeatedly said “As a Government, we would like to see the BPO sector continue to grow as it will allow for the creation of jobs and the generation of income”. This is demonstrated in all his national budget presentations.
Dr. Peter Ramsaroop, Guyana’s Chief Investment Officer and Agency Head of the Guyana Office for Investment has also said “Strategic initiatives by President Dr. Irfaan Ali and the unwavering government support have positioned Guyana as a top destination for Business Process Outsourcing in Latin America and the Caribbean. Under his leadership, we have implemented fiscal incentives, invested heavily in ICT skills training, and developed essential infrastructure to attract significant global players to our shores. Our natural advantages, combined with these efforts, have made Guyana an ideal BPO hub. The Guyana Office for Investment has played a crucial role in facilitating these developments, ensuring a smooth and efficient process for BPO companies looking to establish operations here. We are proud of our accomplishments and remain committed to furthering Guyana’s growth guided by President Dr. Irfaan Ali’s vision, creating substantial employment opportunities for our people, and driving economic diversification,” he said.
Guyana’s natural advantages make it an ideal BPO destination. Its proximity to North America and a strong English-speaking population provides a strategic edge. Furthermore, the country’s young, analytical population is a significant asset, bringing critical thinking and problem-solving skills to BPO startups.
Nearshore Americas, has stated in its release “Guyana already had a strong value proposition for BPO. But its recent fortunes and investment sends a clear message: much more will happen in the following years.” (Nearshore Americas, 2024)
The Guyana Office for Investment’s aggressive promotion of Guyana as a BPO hub has yielded impressive results. Leading global digital services authority Nearshore Americas recently ranked Guyana as a top BPO value destination in Latin America and the Caribbean for 2024.
Guyana secured the seventh spot among 41 destinations, a testament to the government’s continued investment and the facilitative work of the Guyana Office for Investment, supported by the Ministries of Finance and Tourism, Industry, and Commerce. This ranking reflects the country’s ease of doing business, favorable investment climate, competitive real estate prices, labor costs, English proficiency, population size, and proximity to the United States.
President Ali’s support has attracted major industry players such as Qualfon, Teleperformance the larget BPO provider in the world, Itel and Midas BPO, along with smaller operators employing thousands of Guyanese across Guyana. Companies like US-based VChart Services are expanding their operations, with plans to hire 100 new employees at the Tuschen and Enmore call centers by year-end. These developments are transforming communities, providing permanent employment opportunities in areas like Tuschen, which traditionally relied on seasonal farming jobs.
The BPO sector’s growth is also bolstered by the liberalization of the telecom market, encouraging private investments in fiber-optic infrastructure. This modernized telecom landscape is crucial for the sector’s expansion, ensuring that BPO operations run smoothly and efficiently.
As Guyana’s economic trajectory ascends, the augmentation of critical sectors like tourism and hospitality and the creation of new sectors such as port logistics and supply chain are pivotal for the BPO sector. Investments in technology are more crucial than ever, aligning with Guyana’s unprecedented growth and the modernization of existing industries. Additionally, Guyana’s
strategic connections with Brazil and Suriname enhance its appeal by providing greater regional integration and access to broader markets, further benefiting the BPO sector through improved logistics and expanded business opportunities.
“With the mushrooming of BPO facilities and numerous job fairs, it is estimated that by the end of 2025, the sector will create around 10,000 new jobs, significantly contributing to the
government’s broader target of 50,000 jobs in its first term. The excitement is palpable as Guyana cements its position as a key player in the global BPO landscape, driven by strategic investments, a skilled workforce, and unwavering government support” Dr. Ramsaroop said. [Press Release]
