MONTREAL, CANADA — India has taken the #1 spot in the Offshore BPO Confidence Index 2023, with a confidence rating of 90.1%.
According to the annual report released by consulting firm Ryan Strategic Advisory and B2B writing company Cognitive Copy, India edged out Colombia for the top position this year. Colombia had held the #1 ranking for the previous two years.
The report surveyed country managers and BPO companies across 17 nations to gauge confidence levels in offshore Business Process Outsourcing (BPO) environments.
Countries were scored across seven categories: local labor market, infrastructure, commercial property, BPO ecosystem, political stability, public security, and economic stability.
India secured the top spot this year owing to the global BPO sector’s confidence in its vast local labor market.
The Dominican Republic took 2nd place with an 85.3% confidence rating because its commercial property market was “well-suited to the needs of the BPO industry.”
The Czech Republic and Egypt tied for 3rd place with 83.8% confidence ratings due to their strength in public security and infrastructure.
Meanwhile, Colombia fell to 4th place as confidence dipped in the availability of foreign workers (65%) and the simplicity of acquiring work visas for them (70%). Respondents also commented on the country’s public education system for potentially impacting the labor pool’s international readiness.
The annual Offshore BPO Confidence Index relies on input from on-the-ground experts, providing first-hand views of offshore environments.
The report added that the “fusion of quantitative data and qualitative insights ensures unparalleled coverage of the key factors that dictate BPO delivery success.”