Jamaica targets $1Bn BPO revenue by 2025
Jamaica is targeting to reach over US$1 billion in revenues and employ 70,000 individuals in its global services sector by 2025.
According to the Digital Global Services Strategy presented to the Parliament, this revenue target would put the global services sector as the third-largest earner of foreign exchange for Jamaica.
As of March 2020, Jamaica’s global services sector has 75 companies, and 37,000 employees, and earns US$600 million in four key locations across Montego Bay, Mandeville, Portmore, and Kingston.
The Digital Global Services Strategy also outlined that Jamaica’s “mature BPO services” can help the country reduce its reliance on tourism.
According to the document, “Steps to further increase the BPO sector employment base to include more professionals and broadening the scope of services by adding emerging digital services can significantly assist the country in overcoming some of the challenges as well as better aligning the current BPO sector in line with global growth patterns.”
Over the past five years, the Jamaica global services sector has been averaging a 20% annual employment growth which is among the highest in the world.
