Belize emerges as leading BPO hub in LatAm, Caribbean
BELIZE CITY, BELIZE — Belize has secured the top spot as the preferred business process outsourcing (BPO) destination in Latin America and the Caribbean, surpassing countries like Jamaica, Guatemala, and Mexico, according to the Nearshore Value Index’s Top 10 BPO Value Destinations for 2023.
Though relatively new to the BPO arena, Belize has quickly established itself as a high-quality, cost-effective option for nearshore operations. The nation’s affordability, its English-speaking workforce, and proximity to the United States market have contributed to its rising status.
Despite its underdog position, Belize offers a favorable investment environment that outshines popular destinations like Colombia and Costa Rica. However, it faces challenges similar to other nearshore locations, such as business conduciveness and population size.
The Nearshore Value Index evaluates potential BPO sites based on seven criteria, including labor costs, population size, proximity to the U.S., ease of doing business, English proficiency, and investment environment. This year’s index considered 41 candidates from cities, states, and countries.
After Belize, other countries that made it to the Top 10 BPO Value Destinations for 2023 include Jamaica, Guatemala, Quintana Roo, Guyana, Trinidad & Tobago, El Salvador, Bucaramanga, Honduras, and Barranquilla.
