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Strategic review aims to push BPO sector to being the third highest foreign exchange earner for Jamaica
JAMAICA is targeting revenues of over US$1 billion from the global services sector and employment in excess of 70,000 by 2025, according to a Digital Global Services Strategy plan tabled in Parliament last week.
According to the document, the country’s strategy recommendations for 2021-2025 is to see employment in the global services sector increase from 43,167 in 2021 to approximately 70,400 in 2025 and revenue of US$1.15 billion. That revenue target would put the global services sector as the third-largest earner of foreign exchange for Jamaica behind tourism and remittances. The employment growth is expected to average 13 per cent while revenues are forecast to grow by 16 per cent, reflecting the expected contribution of higher value services into the sector.
It proposes doing so by:
- Repositioning of Jamaica as a higher value destination while building on its existing strength as a credible nearshore customer service destination
- Continued employment generation across the outsourcing value chain
- Drive both foreign and domestic investments growth into the sector
- Improve sector revenue generation to support government revenue streams
- Improve domestic service provider participation in the sector
- Encourage domestic entrepreneurship especially within digital services space
- Support overall economic diversification
According to the document, Jamaica’s global services sector had 75 companies in March 2020, employing 37,000 people and earning US$600 million in four key locations, Montego Bay, Mandeville, Portmore and Kingston.
In fact, the Digital Global Services Strategy outlined that Jamaica’s global services sector can help the country to reduce its reliance on tourism, which now contributes about 30 per cent of the country’s gross domestic product (GDP), arguing that “Jamaica can leverage its mature BPO services sector to mitigate the overall impact” of the pandemic on the tourism sector. “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.”
easing travel and stay requirements for those hired from abroad
https://www.jamaicaobserver.com/busi...geted-for-bpo/
JAMAICA is targeting revenues of over US$1 billion from the global services sector and employment in excess of 70,000 by 2025, according to a Digital Global Services Strategy plan tabled in Parliament last week.
According to the document, the country’s strategy recommendations for 2021-2025 is to see employment in the global services sector increase from 43,167 in 2021 to approximately 70,400 in 2025 and revenue of US$1.15 billion. That revenue target would put the global services sector as the third-largest earner of foreign exchange for Jamaica behind tourism and remittances. The employment growth is expected to average 13 per cent while revenues are forecast to grow by 16 per cent, reflecting the expected contribution of higher value services into the sector.
It proposes doing so by:
- Repositioning of Jamaica as a higher value destination while building on its existing strength as a credible nearshore customer service destination
- Continued employment generation across the outsourcing value chain
- Drive both foreign and domestic investments growth into the sector
- Improve sector revenue generation to support government revenue streams
- Improve domestic service provider participation in the sector
- Encourage domestic entrepreneurship especially within digital services space
- Support overall economic diversification
According to the document, Jamaica’s global services sector had 75 companies in March 2020, employing 37,000 people and earning US$600 million in four key locations, Montego Bay, Mandeville, Portmore and Kingston.
In fact, the Digital Global Services Strategy outlined that Jamaica’s global services sector can help the country to reduce its reliance on tourism, which now contributes about 30 per cent of the country’s gross domestic product (GDP), arguing that “Jamaica can leverage its mature BPO services sector to mitigate the overall impact” of the pandemic on the tourism sector. “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.”
easing travel and stay requirements for those hired from abroad
https://www.jamaicaobserver.com/busi...geted-for-bpo/
Paul Marin -19 is one thing, 20 is a whole other matter. It gets even worse if they win the UCL. *groan*. 
05/18/2011.MU fans naah cough, but all a unuh a vomit?-Lazie 1/11/2015
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