Nearshore Value Index 2024
Where BPO and IT Investments Generate the Best Returns
Tech Readiness Drives Nearshore Value in 2024
The Nearshore Value Index (NVI) identifies and ranks the locations which offer the best value for nearshore operations in BPO and software services. This year, given that technology has reached a level of relevance not seen in years, territories with high technological readiness and expertise fared better than those which maintain the traditional low cost, bodies-on-seats model as the core of their value proposition. Things might be different the following year, but 2024 has the potential to be definitive for the mid and long-term future of LATAM and the Caribbean.
Top Ten IT/ Software Value Destinations for 2024
1. Guadalajara
Strengths: Tech & business ecosystem, education, IT expertise
Weaknesses: Crowded landscape
Perhaps too obvious of a choice, but we believe it to be the correct one.
Many cities claim to be a country’s or a region’s “Silicon Valley”. Guadalajara has, in Mexico’s case, the strongest claim to that title. The city –one of the largest in Mexico– has for decades cultivated a tech ecosystem which keeps growing in size, capabilities and expertise.
The following years will be marked by innovations driven by AI, big data, cloud technology and more. In the Nearshore, Guadalajara stands as the best place to be for anyone interested in riding that wave. The city has a strong –and growing– pool of talent, local government support, an ecosystem of global companies, top-notch educational institutions, growing synergy between business and academia, and the potential to compete on an international stage.
1. Guadalajara
Strengths: Tech & business ecosystem, education, IT expertise
Weaknesses: Crowded landscape
Perhaps too obvious of a choice, but we believe it to be the correct one.
Many cities claim to be a country’s or a region’s “Silicon Valley”. Guadalajara has, in Mexico’s case, the strongest claim to that title. The city –one of the largest in Mexico– has for decades cultivated a tech ecosystem which keeps growing in size, capabilities and expertise.
The following years will be marked by innovations driven by AI, big data, cloud technology and more. In the Nearshore, Guadalajara stands as the best place to be for anyone interested in riding that wave. The city has a strong –and growing– pool of talent, local government support, an ecosystem of global companies, top-notch educational institutions, growing synergy between business and academia, and the potential to compete on an international stage.
1. Guadalajara
Strengths: Tech & business ecosystem, education, IT expertise
Weaknesses: Crowded landscape
Perhaps too obvious of a choice, but we believe it to be the correct one.
Many cities claim to be a country’s or a region’s “Silicon Valley”. Guadalajara has, in Mexico’s case, the strongest claim to that title. The city –one of the largest in Mexico– has for decades cultivated a tech ecosystem which keeps growing in size, capabilities and expertise.
The following years will be marked by innovations driven by AI, big data, cloud technology and more. In the Nearshore, Guadalajara stands as the best place to be for anyone interested in riding that wave. The city has a strong –and growing– pool of talent, local government support, an ecosystem of global companies, top-notch educational institutions, growing synergy between business and academia, and the potential to compete on an international stage.
2. Montevideo
Strengths: Wages, tech ecosystem, tech expertise
Weaknesses: Population size, flight distance from US
Over the past couple years, Montevideo has turned into a “Little Buenos Aires” of sorts. Many of Argentina’s top tech companies have migrated entirely or set up operations in Montevideo.
The city exists away from the current political and economic chaos of Argentina, but remains close enough to take full advantage of what its neighbor has built in tech over several decades.
Uruguay in general constantly scores high regionally in international rankings for foreign investment, business acumen and social development.
While not as big or as vibrant as Buenos Aires, Montevideo has effectively emerged as a cozier, less problematic alternative for South American tech.
2. Montevideo
Strengths: Wages, tech ecosystem, tech expertise
Weaknesses: Population size, flight distance from US
Over the past couple years, Montevideo has turned into a “Little Buenos Aires” of sorts. Many of Argentina’s top tech companies have migrated entirely or set up operations in Montevideo.
The city exists away from the current political and economic chaos of Argentina, but remains close enough to take full advantage of what its neighbor has built in tech over several decades.
Uruguay in general constantly scores high regionally in international rankings for foreign investment, business acumen and social development.
While not as big or as vibrant as Buenos Aires, Montevideo has effectively emerged as a cozier, less problematic alternative for South American tech.
2. Montevideo
Strengths: Wages, tech ecosystem, tech expertise
Weaknesses: Population size, flight distance from US
Over the past couple years, Montevideo has turned into a “Little Buenos Aires” of sorts. Many of Argentina’s top tech companies have migrated entirely or set up operations in Montevideo.
The city exists away from the current political and economic chaos of Argentina, but remains close enough to take full advantage of what its neighbor has built in tech over several decades.
Uruguay in general constantly scores high regionally in international rankings for foreign investment, business acumen and social development.
While not as big or as vibrant as Buenos Aires, Montevideo has effectively emerged as a cozier, less problematic alternative for South American tech.
3. Campinas
Strengths: Education, tech expertise, tech ecosystem, talent availability
Weaknesses: Wages, crowded
Brazil is known as Latin America’s technological behemoth. Such a reputation has pushed some of its main cities (São Paulo and Río, most prominently) to a point of near-saturation. Wages are high, talent is less available than in other places and competition is very strong.
In that landscape, Campinas stands as a fresh alternative. It is close enough to Río to take full advantage of the existing ecosystem there. Plus, it is home to around 300,000 tech workers and to one of Brazil’s top universities.
3. Campinas
Strengths: Education, tech expertise, tech ecosystem, talent availability
Weaknesses: Wages, crowded
Brazil is known as Latin America’s technological behemoth. Such a reputation has pushed some of its main cities (São Paulo and Río, most prominently) to a point of near-saturation. Wages are high, talent is less available than in other places and competition is very strong.
In that landscape, Campinas stands as a fresh alternative. It is close enough to Río to take full advantage of the existing ecosystem there. Plus, it is home to around 300,000 tech workers and to one of Brazil’s top universities.
3. Campinas
Strengths: Education, tech expertise, tech ecosystem, talent availability
Weaknesses: Wages, crowded
Brazil is known as Latin America’s technological behemoth. Such a reputation has pushed some of its main cities (São Paulo and Río, most prominently) to a point of near-saturation. Wages are high, talent is less available than in other places and competition is very strong.
In that landscape, Campinas stands as a fresh alternative. It is close enough to Río to take full advantage of the existing ecosystem there. Plus, it is home to around 300,000 tech workers and to one of Brazil’s top universities.
4. Monterrey
Strengths: Tech & business ecosystem, education, proximity to US
Weaknesses: Wages, crowded
The crown jewel of Mexico’s industrial capabilities. Monterrey is well known internationally as a prime option for foreign investment, particularly in the manufacturing sector. This has attracted flock after flock of tech vendors looking to set up shop in that vibrant, constantly growing ecosystem.
The arrival of Tesla promises to take the city to new heights. Local colleges are already modifying their curricula to fit the needs of Tesla and other companies; another wave of talented engineers is expected to migrate to Monterrey, hunting for better opportunities; global companies are now more interested in the city as an option for investment; and the local government has been pushing for even stronger trade ties with Texas.
In a few words: Monterrey finds itself on the brink of a major upgrade that no one should miss
4. Monterrey
Strengths: Tech & business ecosystem, education, proximity to US
Weaknesses: Wages, crowded
The crown jewel of Mexico’s industrial capabilities. Monterrey is well known internationally as a prime option for foreign investment, particularly in the manufacturing sector. This has attracted flock after flock of tech vendors looking to set up shop in that vibrant, constantly growing ecosystem.
The arrival of Tesla promises to take the city to new heights. Local colleges are already modifying their curricula to fit the needs of Tesla and other companies; another wave of talented engineers is expected to migrate to Monterrey, hunting for better opportunities; global companies are now more interested in the city as an option for investment; and the local government has been pushing for even stronger trade ties with Texas.
In a few words: Monterrey finds itself on the brink of a major upgrade that no one should miss
4. Monterrey
Strengths: Tech & business ecosystem, education, proximity to US
Weaknesses: Wages, crowded
The crown jewel of Mexico’s industrial capabilities. Monterrey is well known internationally as a prime option for foreign investment, particularly in the manufacturing sector. This has attracted flock after flock of tech vendors looking to set up shop in that vibrant, constantly growing ecosystem.
The arrival of Tesla promises to take the city to new heights. Local colleges are already modifying their curricula to fit the needs of Tesla and other companies; another wave of talented engineers is expected to migrate to Monterrey, hunting for better opportunities; global companies are now more interested in the city as an option for investment; and the local government has been pushing for even stronger trade ties with Texas.
In a few words: Monterrey finds itself on the brink of a major upgrade that no one should miss
5. Bogota
Strengths: Tech ecosystem, talent availability
Weaknesses: Business ecosystem, proximity to US
Just a few years back, Colombia was constantly mentioned as one of Latin America’s top destinations for tech. Today, that conversation has been somewhat clouded by political talk.
Nevertheless, the country remains as a highly-favored spot for tech investment, and Bogota stands at the top of the ecosystem.
Bogota is one of Colombia’s most vibrant tech cities, with an ample pool of talent, high level educational institutions and an evolving tech-startup landscape that keeps drawing the attention of international investors.
Plus, the city recently announced the opening of a center for the development of AI technology which promises to set the ground for a push towards innovation.
5. Bogota
Strengths: Tech ecosystem, talent availability
Weaknesses: Business ecosystem, proximity to US
Just a few years back, Colombia was constantly mentioned as one of Latin America’s top destinations for tech. Today, that conversation has been somewhat clouded by political talk.
Nevertheless, the country remains as a highly-favored spot for tech investment, and Bogota stands at the top of the ecosystem.
Bogota is one of Colombia’s most vibrant tech cities, with an ample pool of talent, high level educational institutions and an evolving tech-startup landscape that keeps drawing the attention of international investors.
Plus, the city recently announced the opening of a center for the development of AI technology which promises to set the ground for a push towards innovation.
5. Bogota
Strengths: Tech ecosystem, talent availability
Weaknesses: Business ecosystem, proximity to US
Just a few years back, Colombia was constantly mentioned as one of Latin America’s top destinations for tech. Today, that conversation has been somewhat clouded by political talk.
Nevertheless, the country remains as a highly-favored spot for tech investment, and Bogota stands at the top of the ecosystem.
Bogota is one of Colombia’s most vibrant tech cities, with an ample pool of talent, high level educational institutions and an evolving tech-startup landscape that keeps drawing the attention of international investors.
Plus, the city recently announced the opening of a center for the development of AI technology which promises to set the ground for a push towards innovation.
6. Queretaro City
Strengths: Business ecosystem, proximity to US, wages
Weaknesses: Population, infrastructure
Another one of Mexico’s industrial jewels. Queretaro has built a reputation among foreign investors as an easy-going location for business. It has yet to reach the status of a “big city”, a fact that puts it in a sweet spot for anyone hunting for potential.
Queretaro keeps attracting workers and entrepreneurs from all over the country, as well as international companies from the manufacturing sector, particularly automotive and aerospace.
All that attention has given way to the development of an emergent tech ecosystem which feeds from both its own local resources and those from the nearby capital of Mexico City, where some of the country’s –and Latin America’s– top educational institutions are.
6. Queretaro City
Strengths: Business ecosystem, proximity to US, wages
Weaknesses: Population, infrastructure
Another one of Mexico’s industrial jewels. Queretaro has built a reputation among foreign investors as an easy-going location for business. It has yet to reach the status of a “big city”, a fact that puts it in a sweet spot for anyone hunting for potential.
Queretaro keeps attracting workers and entrepreneurs from all over the country, as well as international companies from the manufacturing sector, particularly automotive and aerospace.
All that attention has given way to the development of an emergent tech ecosystem which feeds from both its own local resources and those from the nearby capital of Mexico City, where some of the country’s –and Latin America’s– top educational institutions are.
6. Queretaro City
Strengths: Business ecosystem, proximity to US, wages
Weaknesses: Population, infrastructure
Another one of Mexico’s industrial jewels. Queretaro has built a reputation among foreign investors as an easy-going location for business. It has yet to reach the status of a “big city”, a fact that puts it in a sweet spot for anyone hunting for potential.
Queretaro keeps attracting workers and entrepreneurs from all over the country, as well as international companies from the manufacturing sector, particularly automotive and aerospace.
All that attention has given way to the development of an emergent tech ecosystem which feeds from both its own local resources and those from the nearby capital of Mexico City, where some of the country’s –and Latin America’s– top educational institutions are.
7. Santiago
Strengths: Tech expertise, education
Weaknesses: Wages, proximity to US, population
Santiago is a mine for high-level tech expertise. Sometimes regarded as “the Germany of Latin America”, Chile is known for the top quality of its educational institutions and for being one of the few, bona fide sources of R&D, innovation and scientific development in all of Latin America.
The city is small, so it isn’t an option for scaling. But what Santiago lacks in quantity, it more than makes up for with quality. Multinationals know that they can fill middle-management and top executive positions in tech by shopping for talent in Chile.
To boot, the country generally tops regional rankings for social development, rule of law and educational prowess.
7. Santiago
Strengths: Tech expertise, education
Weaknesses: Wages, proximity to US, population
Santiago is a mine for high-level tech expertise. Sometimes regarded as “the Germany of Latin America”, Chile is known for the top quality of its educational institutions and for being one of the few, bona fide sources of R&D, innovation and scientific development in all of Latin America.
The city is small, so it isn’t an option for scaling. But what Santiago lacks in quantity, it more than makes up for with quality. Multinationals know that they can fill middle-management and top executive positions in tech by shopping for talent in Chile.
To boot, the country generally tops regional rankings for social development, rule of law and educational prowess.
7. Santiago
Strengths: Tech expertise, education
Weaknesses: Wages, proximity to US, population
Santiago is a mine for high-level tech expertise. Sometimes regarded as “the Germany of Latin America”, Chile is known for the top quality of its educational institutions and for being one of the few, bona fide sources of R&D, innovation and scientific development in all of Latin America.
The city is small, so it isn’t an option for scaling. But what Santiago lacks in quantity, it more than makes up for with quality. Multinationals know that they can fill middle-management and top executive positions in tech by shopping for talent in Chile.
To boot, the country generally tops regional rankings for social development, rule of law and educational prowess.
8. San Salvador
Strengths: Business ecosystem, wages
Weaknesses: Population, education
El Salvador has been making headlines recently thanks in great part to the controversial policies and personality of President Nayib Bukele. But don’t let that distract you from the potential that the country’s capital has shown over the past couple years.
San Salvador has attracted a lot of attention from tech investors worldwide, and the Salvadoran government is pushing hard to attract even more interest. Tax incentives, visa benefits, a constant courtship of global tech investors.
“Yet untapped potential” is the phrase that best describes El Salvador’s capital at the moment.
8. San Salvador
Strengths: Business ecosystem, wages
Weaknesses: Population, education
El Salvador has been making headlines recently thanks in great part to the controversial policies and personality of President Nayib Bukele. But don’t let that distract you from the potential that the country’s capital has shown over the past couple years.
San Salvador has attracted a lot of attention from tech investors worldwide, and the Salvadoran government is pushing hard to attract even more interest. Tax incentives, visa benefits, a constant courtship of global tech investors.
“Yet untapped potential” is the phrase that best describes El Salvador’s capital at the moment.
8. San Salvador
Strengths: Business ecosystem, wages
Weaknesses: Population, education
El Salvador has been making headlines recently thanks in great part to the controversial policies and personality of President Nayib Bukele. But don’t let that distract you from the potential that the country’s capital has shown over the past couple years.
San Salvador has attracted a lot of attention from tech investors worldwide, and the Salvadoran government is pushing hard to attract even more interest. Tax incentives, visa benefits, a constant courtship of global tech investors.
“Yet untapped potential” is the phrase that best describes El Salvador’s capital at the moment.
9. Santo Domingo
Strengths: Wages, talent availability
Weaknesses: Population, infrastructure, education
A strange jewel of the Caribbean. The Dominican Republic has slowly but surely been building its tech credentials and now stands as a refreshing option for IT investment in the whole region.
Although it suffers from the same problems as many other Caribbean nations –size and infrastructure, mostly–, several tech vendors have operated in Santo Domingo for years now; some even for decades, proving that DR’s capital can sustain global tech operations.
9. Santo Domingo
Strengths: Wages, talent availability
Weaknesses: Population, infrastructure, education
A strange jewel of the Caribbean. The Dominican Republic has slowly but surely been building its tech credentials and now stands as a refreshing option for IT investment in the whole region.
Although it suffers from the same problems as many other Caribbean nations –size and infrastructure, mostly–, several tech vendors have operated in Santo Domingo for years now; some even for decades, proving that DR’s capital can sustain global tech operations.
9. Santo Domingo
Strengths: Wages, talent availability
Weaknesses: Population, infrastructure, education
A strange jewel of the Caribbean. The Dominican Republic has slowly but surely been building its tech credentials and now stands as a refreshing option for IT investment in the whole region.
Although it suffers from the same problems as many other Caribbean nations –size and infrastructure, mostly–, several tech vendors have operated in Santo Domingo for years now; some even for decades, proving that DR’s capital can sustain global tech operations.
10. Lima
Strengths: Talent availability, wages
Weaknesses: Education, business ecosystem
Perú is often overlooked in favor of the South American giants (Brazil, Colombia and Argentina), but the country still has quite a bit to offer to the nearshore tech ecosystem.
Several nearshore tech vendors have recognized the strength of Lima’s talent pool. Although not sizable enough to allow for a big-time operation, quality is high, and it keeps growing.
We don’t see Lima reaching the levels of the regional giants, but it has the potential to stand easily as a Tier-2 city where businesses can set up operations when in need of small-scale expansion.
10. Lima
Strengths: Talent availability, wages
Weaknesses: Education, business ecosystem
Perú is often overlooked in favor of the South American giants (Brazil, Colombia and Argentina), but the country still has quite a bit to offer to the nearshore tech ecosystem.
Several nearshore tech vendors have recognized the strength of Lima’s talent pool. Although not sizable enough to allow for a big-time operation, quality is high, and it keeps growing.
We don’t see Lima reaching the levels of the regional giants, but it has the potential to stand easily as a Tier-2 city where businesses can set up operations when in need of small-scale expansion.
10. Lima
Strengths: Talent availability, wages
Weaknesses: Education, business ecosystem
Perú is often overlooked in favor of the South American giants (Brazil, Colombia and Argentina), but the country still has quite a bit to offer to the nearshore tech ecosystem.
Several nearshore tech vendors have recognized the strength of Lima’s talent pool. Although not sizable enough to allow for a big-time operation, quality is high, and it keeps growing.
We don’t see Lima reaching the levels of the regional giants, but it has the potential to stand easily as a Tier-2 city where businesses can set up operations when in need of small-scale expansion.
Top Ten BPO Value Destinations for 2024
1. Guatemala City
Strengths: Tech expertise, wages, business ecosystem, proximity to US
Weaknesses: Population
Often overlooked in favor of the more “popular kids” in nearshore BPO, Guatemala City is perhaps the best-positioned location for BPO’s tech-oriented future.
Guatemala has been quietly building its IT credentials for years, and now provides a nurtured portfolio of process automation, cloud computing, data analytics, AI and more. Given the now evident –and increasingly demanding– intersection between tech and BPO, Guatemala City is undeniably attractive for BPO investment.
To boot, Guatemala City excels in the classic nearshore perks: proximity to the US, affordable wages and unsaturated real estate. It lacks the numbers that other, more popular locations have, but in an age of automation, that’s less of an issue.
1. Guatemala City
Strengths: Tech expertise, wages, business ecosystem, proximity to US
Weaknesses: Population
Often overlooked in favor of the more “popular kids” in nearshore BPO, Guatemala City is perhaps the best-positioned location for BPO’s tech-oriented future.
Guatemala has been quietly building its IT credentials for years, and now provides a nurtured portfolio of process automation, cloud computing, data analytics, AI and more. Given the now evident –and increasingly demanding– intersection between tech and BPO, Guatemala City is undeniably attractive for BPO investment.
To boot, Guatemala City excels in the classic nearshore perks: proximity to the US, affordable wages and unsaturated real estate. It lacks the numbers that other, more popular locations have, but in an age of automation, that’s less of an issue.
[/mks_one_half]1. Guatemala City
Strengths: Tech expertise, wages, business ecosystem, proximity to US
Weaknesses: Population
Often overlooked in favor of the more “popular kids” in nearshore BPO, Guatemala City is perhaps the best-positioned location for BPO’s tech-oriented future.
Guatemala has been quietly building its IT credentials for years, and now provides a nurtured portfolio of process automation, cloud computing, data analytics, AI and more. Given the now evident –and increasingly demanding– intersection between tech and BPO, Guatemala City is undeniably attractive for BPO investment.
To boot, Guatemala City excels in the classic nearshore perks: proximity to the US, affordable wages and unsaturated real estate. It lacks the numbers that other, more popular locations have, but in an age of automation, that’s less of an issue.
2. Montego Bay
Strengths: Business environment, talent availability, BPO ecosystem
Weaknesses: Population size, talent availability
One of the Caribbean’s shiniest gems. Montego Bay is, with Kingston, among the two go-to destinations for BPO in Jamaica. Some of the biggest, most successful players in the industry deliver from MoBay, and some have opted to launch their Jamaican operations from there.
MoBay’s edge over Kingston lies in its status as a less crowded area. Though some vendors have expressed concern over potential job market pressures coming from the tourism sector, the evolving nature of Jamaican BPO should wave those concerns away.
Jamaican authorities have spent years now upgrading the island’s BPO workforce, preparing it for an industry that’s more about high-skill, complex problem-solving capabilities and tech prowess.
2. Montego Bay
Strengths: Business environment, talent availability, BPO ecosystem
Weaknesses: Population size, talent availability
One of the Caribbean’s shiniest gems. Montego Bay is, with Kingston, among the two go-to destinations for BPO in Jamaica. Some of the biggest, most successful players in the industry deliver from MoBay, and some have opted to launch their Jamaican operations from there.
MoBay’s edge over Kingston lies in its status as a less crowded area. Though some vendors have expressed concern over potential job market pressures coming from the tourism sector, the evolving nature of Jamaican BPO should wave those concerns away.
Jamaican authorities have spent years now upgrading the island’s BPO workforce, preparing it for an industry that’s more about high-skill, complex problem-solving capabilities and tech prowess.
2. Montego Bay
Strengths: Business environment, talent availability, BPO ecosystem
Weaknesses: Population size, talent availability
One of the Caribbean’s shiniest gems. Montego Bay is, with Kingston, among the two go-to destinations for BPO in Jamaica. Some of the biggest, most successful players in the industry deliver from MoBay, and some have opted to launch their Jamaican operations from there.
MoBay’s edge over Kingston lies in its status as a less crowded area. Though some vendors have expressed concern over potential job market pressures coming from the tourism sector, the evolving nature of Jamaican BPO should wave those concerns away.
Jamaican authorities have spent years now upgrading the island’s BPO workforce, preparing it for an industry that’s more about high-skill, complex problem-solving capabilities and tech prowess.
3. Medellin
Strengths: Tech expertise, population, BPO ecosystem
Weaknesses: Wages, talent availability
Colombia remains one of South America’s premier destinations for BPO. The country has a dedicated industry organization which for decades has promoted and cultivated BPO as an important source of foreign investments, jobs and economic development.
Among the many cities for BPO in Colombia, Medellín stands out for its intersection with tech. As the lines between tech and BPO services grow blurrier, access to technological talent becomes more important than ever.
As one of Colombia’s true tech hubs, Medellín can feed that new ecosystem.
3. Medellin
Strengths: Tech expertise, population, BPO ecosystem
Weaknesses: Wages, talent availability
Colombia remains one of South America’s premier destinations for BPO. The country has a dedicated industry organization which for decades has promoted and cultivated BPO as an important source of foreign investments, jobs and economic development.
Among the many cities for BPO in Colombia, Medellín stands out for its intersection with tech. As the lines between tech and BPO services grow blurrier, access to technological talent becomes more important than ever.
As one of Colombia’s true tech hubs, Medellín can feed that new ecosystem.
3. Medellin
Strengths: Tech expertise, population, BPO ecosystem
Weaknesses: Wages, talent availability
Colombia remains one of South America’s premier destinations for BPO. The country has a dedicated industry organization which for decades has promoted and cultivated BPO as an important source of foreign investments, jobs and economic development.
Among the many cities for BPO in Colombia, Medellín stands out for its intersection with tech. As the lines between tech and BPO services grow blurrier, access to technological talent becomes more important than ever.
As one of Colombia’s true tech hubs, Medellín can feed that new ecosystem.
4. Belize City
Strengths: Wages, English proficiency, proximity to US
Weaknesses: Population, BPO ecosystem
A relatively new player to the BPO sector, Belize has nonetheless built a strong reputation among market players as a small but affordable location for delivery, with high standards of quality.
A country of native English speakers, with potential for bilingualism, Belize is a prime example of a relatively unknown gem in nearshore operations.
4. Belize City
Strengths: Wages, English proficiency, proximity to US
Weaknesses: Population, BPO ecosystem
A relatively new player to the BPO sector, Belize has nonetheless built a strong reputation among market players as a small but affordable location for delivery, with high standards of quality.
A country of native English speakers, with potential for bilingualism, Belize is a prime example of a relatively unknown gem in nearshore operations.
4. Belize City
Strengths: Wages, English proficiency, proximity to US
Weaknesses: Population, BPO ecosystem
A relatively new player to the BPO sector, Belize has nonetheless built a strong reputation among market players as a small but affordable location for delivery, with high standards of quality.
A country of native English speakers, with potential for bilingualism, Belize is a prime example of a relatively unknown gem in nearshore operations.
5. Port of Spain
Strengths: English proficiency, wages, BPO ecosystem
Weaknesses: Population, infrastructure
There’s definitely more than white sand and crystalline waters in Trinidad & Tobago.
An excellent case for Caribbean BPO delivery, T&T has a population that, due to its experience in the tourism sector, is well versed in the ins and outs of a service economy. Vendors and investors who have chosen T&T for their operations recognize the warmth of its people as one of the main perks for delivery.
Its capital (Port of Spain) is growing in popularity, but has yet to reach the dangerous levels of BPO activity that make vendors fear for saturation.
English capabilities are strong in the country, and there’s potential for Spanish-language delivery.
5. Port of Spain
Strengths: English proficiency, wages, BPO ecosystem
Weaknesses: Population, infrastructure
There’s definitely more than white sand and crystalline waters in Trinidad & Tobago.
An excellent case for Caribbean BPO delivery, T&T has a population that, due to its experience in the tourism sector, is well versed in the ins and outs of a service economy. Vendors and investors who have chosen T&T for their operations recognize the warmth of its people as one of the main perks for delivery.
Its capital (Port of Spain) is growing in popularity, but has yet to reach the dangerous levels of BPO activity that make vendors fear for saturation.
English capabilities are strong in the country, and there’s potential for Spanish-language delivery.
5. Port of Spain
Strengths: English proficiency, wages, BPO ecosystem
Weaknesses: Population, infrastructure
There’s definitely more than white sand and crystalline waters in Trinidad & Tobago.
An excellent case for Caribbean BPO delivery, T&T has a population that, due to its experience in the tourism sector, is well versed in the ins and outs of a service economy. Vendors and investors who have chosen T&T for their operations recognize the warmth of its people as one of the main perks for delivery.
Its capital (Port of Spain) is growing in popularity, but has yet to reach the dangerous levels of BPO activity that make vendors fear for saturation.
English capabilities are strong in the country, and there’s potential for Spanish-language delivery.
6. Heredia
Strengths: BPO ecosystem, business environment, IPAs
Weaknesses: Wages, crowded, talent availability
Costa Rica is one of the region’s more “popular kids” in the BPO sector. Its popularity has made it a very solicited area, a fact that can be both an opportunity and a challenge. Its capital (San José) has grown quite expensive for anyone seeking to set up shop, but the ecosystem is vibrant with loads of multinational companies, a highly skilled talent pool and a couple of investment promotion agencies that know what foreign investors need.
In that context, Heredia stands as a more affordable, less crowded option.There’s no shortage of global companies in the city, though, so it is already regarded as a well-established destination for delivery.
6. Heredia
Strengths: BPO ecosystem, business environment, IPAs
Weaknesses: Wages, crowded, talent availability
Costa Rica is one of the region’s more “popular kids” in the BPO sector. Its popularity has made it a very solicited area, a fact that can be both an opportunity and a challenge. Its capital (San José) has grown quite expensive for anyone seeking to set up shop, but the ecosystem is vibrant with loads of multinational companies, a highly skilled talent pool and a couple of investment promotion agencies that know what foreign investors need.
In that context, Heredia stands as a more affordable, less crowded option.There’s no shortage of global companies in the city, though, so it is already regarded as a well-established destination for delivery.
6. Heredia
Strengths: BPO ecosystem, business environment, IPAs
Weaknesses: Wages, crowded, talent availability
Costa Rica is one of the region’s more “popular kids” in the BPO sector. Its popularity has made it a very solicited area, a fact that can be both an opportunity and a challenge. Its capital (San José) has grown quite expensive for anyone seeking to set up shop, but the ecosystem is vibrant with loads of multinational companies, a highly skilled talent pool and a couple of investment promotion agencies that know what foreign investors need.
In that context, Heredia stands as a more affordable, less crowded option.There’s no shortage of global companies in the city, though, so it is already regarded as a well-established destination for delivery.
7. Georgetown
Strengths: Wages, business ecosystem
Weaknesses: Population, infrastructure
So much is happening in Guyana these days. The country’s oil fortunes have put it under the spotlight of international business, providing public coffers with loads of resources that could change the socio-economic profile of Guyana if properly applied.
Guyanenes authorities decided to put a fraction of that capital to work with a $US2.8 million investment this year. The money will be used to build two massive BPO campuses that are expected to house “dozens” of BPO companies.
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.
7. Georgetown
Strengths: Wages, business ecosystem
Weaknesses: Population, infrastructure
So much is happening in Guyana these days. The country’s oil fortunes have put it under the spotlight of international business, providing public coffers with loads of resources that could change the socio-economic profile of Guyana if properly applied.
Guyanenes authorities decided to put a fraction of that capital to work with a $US2.8 million investment this year. The money will be used to build two massive BPO campuses that are expected to house “dozens” of BPO companies.
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.
7. Georgetown
Strengths: Wages, business ecosystem
Weaknesses: Population, infrastructure
So much is happening in Guyana these days. The country’s oil fortunes have put it under the spotlight of international business, providing public coffers with loads of resources that could change the socio-economic profile of Guyana if properly applied.
Guyanenes authorities decided to put a fraction of that capital to work with a $US2.8 million investment this year. The money will be used to build two massive BPO campuses that are expected to house “dozens” of BPO companies.
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.
8. Merida
Strengths: Wages, business environment, real estate
Weaknesses: Population, BPO ecosystem
When it comes to Mexican BPO, experts tend to speak more fondly of the northern region, where cities near the US border provide a talent pool of fluent English speakers, many of them former migrants who lived and worked in the US for years. That reputation, unfortunately, has made those cities quite expensive.
Merida stands at the opposite end of the territory. Located in Mexico’s southeastern peninsula, the city has fostered a lot of interest among investors due to its rapid growth, its claim to being the safest city in the country and a continuous flow of people following the promise of a better life.
Webhelp opened two delivery centers in Merida over the last couple years, and more and more service providers have also shown their interest in the city.
8. Merida
Strengths: Wages, business environment, real estate
Weaknesses: Population, BPO ecosystem
When it comes to Mexican BPO, experts tend to speak more fondly of the northern region, where cities near the US border provide a talent pool of fluent English speakers, many of them former migrants who lived and worked in the US for years. That reputation, unfortunately, has made those cities quite expensive.
Merida stands at the opposite end of the territory. Located in Mexico’s southeastern peninsula, the city has fostered a lot of interest among investors due to its rapid growth, its claim to being the safest city in the country and a continuous flow of people following the promise of a better life.
Webhelp opened two delivery centers in Merida over the last couple years, and more and more service providers have also shown their interest in the city.
8. Merida
Strengths: Wages, business environment, real estate
Weaknesses: Population, BPO ecosystem
When it comes to Mexican BPO, experts tend to speak more fondly of the northern region, where cities near the US border provide a talent pool of fluent English speakers, many of them former migrants who lived and worked in the US for years. That reputation, unfortunately, has made those cities quite expensive.
Merida stands at the opposite end of the territory. Located in Mexico’s southeastern peninsula, the city has fostered a lot of interest among investors due to its rapid growth, its claim to being the safest city in the country and a continuous flow of people following the promise of a better life.
Webhelp opened two delivery centers in Merida over the last couple years, and more and more service providers have also shown their interest in the city.
9. Castries
Strengths: Wages, tech & business environment
Weaknesses: Infrastructure, population
St. Lucia is one of the earlier adopters of cutting-edge technologies in the Caribbean, a bet that will for sure pay dividends in the coming years.
Cloud computing, data and AI are some of the offerings in St. Lucia, and they will for certain feed the current BPO ecosystem.
While not as big as other players in the region –vendors in the territory already worry about the low population numbers–, St. Lucia has the potential to take full advantage of automation and digital transformation strategies in the sector.
9. Castries
Strengths: Wages, tech & business environment
Weaknesses: Infrastructure, population
St. Lucia is one of the earlier adopters of cutting-edge technologies in the Caribbean, a bet that will for sure pay dividends in the coming years.
Cloud computing, data and AI are some of the offerings in St. Lucia, and they will for certain feed the current BPO ecosystem.
While not as big as other players in the region –vendors in the territory already worry about the low population numbers–, St. Lucia has the potential to take full advantage of automation and digital transformation strategies in the sector.
9. Castries
Strengths: Wages, tech & business environment
Weaknesses: Infrastructure, population
St. Lucia is one of the earlier adopters of cutting-edge technologies in the Caribbean, a bet that will for sure pay dividends in the coming years.
Cloud computing, data and AI are some of the offerings in St. Lucia, and they will for certain feed the current BPO ecosystem.
While not as big as other players in the region –vendors in the territory already worry about the low population numbers–, St. Lucia has the potential to take full advantage of automation and digital transformation strategies in the sector.
10. Ciudad del Este
Strengths: Wages, talent availability
Weaknesses: Population, BPO ecosystem
Paraguay is a relatively unexplored site for BPO investment, and Ciudad del Este is an even more open space for businesses to explore. The city is occupied mainly by small to mid-sized firms, with Alorica and Konecta as the only two big players in the area.
For that reason –and a host of others–, Ciudad del Este has remained quite affordable when compared with other, more popular sites for nearshore delivery in the Americas.
Scalability stands as the biggest drawback for the city, but automation technology can make that less of an issue.
10. Ciudad del Este
Strengths: Wages, talent availability
Weaknesses: Population, BPO ecosystem
Paraguay is a relatively unexplored site for BPO investment, and Ciudad del Este is an even more open space for businesses to explore. The city is occupied mainly by small to mid-sized firms, with Alorica and Konecta as the only two big players in the area.
For that reason –and a host of others–, Ciudad del Este has remained quite affordable when compared with other, more popular sites for nearshore delivery in the Americas.
Scalability stands as the biggest drawback for the city, but automation technology can make that less of an issue.
10. Ciudad del Este
Strengths: Wages, talent availability
Weaknesses: Population, BPO ecosystem
Paraguay is a relatively unexplored site for BPO investment, and Ciudad del Este is an even more open space for businesses to explore. The city is occupied mainly by small to mid-sized firms, with Alorica and Konecta as the only two big players in the area.
For that reason –and a host of others–, Ciudad del Este has remained quite affordable when compared with other, more popular sites for nearshore delivery in the Americas.
Scalability stands as the biggest drawback for the city, but automation technology can make that less of an issue.
Methodology
The destinations showcased in the NVI were chosen from a larger pool of 41 candidates, which included cities, states and whole countries.
The value proposition of each destination was evaluated using criteria that go beyond cost. These criteria were divided into seven categories. Six of these categories (costs of labor, population size, proximity to the US, ease of doing business, English proficiency and investment environment) were the same across both top tens. The seventh differed, with the BPO list taking real estate prices into consideration, while the ITO list evaluated the availability and quality of tech universities.
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