At the BPO Analyst Relations Event, Trade Minister Paula Gopee-Scoon highlighted how Trinidad and Tobago emerged as a top business process outsourcing (BPO) location in the Caribbean and Latin America. The industry has invested over $245 million and created 3,000 jobs, with employment opportunities expected to grow to almost 4,000 this fiscal year.
The government supports solidifying the island nation as a premier outsourcing hub. Gopee-Scoon also underlined the importance of the BPO industry to the nation’s economic expansion.
Thriving industries within the BPO sector
The Ministry of Trade and Industry reports that the BPO sector has steadily grown over the past three years in terms of investment and job creation. In 2022, two companies invested TT$31 million, creating 70 jobs. In 2023, three companies invested TT$38 million, generating 565 jobs.
This year, three more companies invested TT$43 million and will begin operations in 2025, adding 950 new job opportunities. This consistent growth highlights BPO’s significant role in supporting the island nation’s economic development.
Trinidad and Tobago offers several advantages over other BPO destinations. It features a highly educated workforce with strong English proficiency. Its time zone compatibility with North America enables seamless collaboration. Moreover, the country’s robust information and communication technology (ICT) infrastructure ensures reliable connectivity for BPO operations.
The BPO sector serves a wide range of industries. While customer service, including call center operations and technical support, remains dominant, the industry is quickly expanding into healthcare, legal services, finance, and accounting. It also offers high-paying jobs, particularly for young professionals, and fosters the advancement of digital skills nationwide.
A well-regulated environment for investors
Trinidad and Tobago’s BPO sector prospers in a stable, well-regulated setting. The Special Economic Zones (SEZ) Act, fully enacted in July 2024, offers tax breaks and incentives to qualified BPO firms, making the country appealing to foreign investors. Meanwhile, the Data Protection Act of 2011 protects sensitive information and aligns with global best practices.
Recognizing its potential, the local government actively promotes its BPO sector through targeted initiatives. InvestTT, the national investment promotion agency, facilitates investment and connects BPO companies with local talent. The Ministry of Trade and Industry also supports sector growth through training programs and infrastructure upgrades.
Trinidad and Tobago’s BPO sector looks promising. With continued government support and a skilled workforce, the country is well-positioned to attract further investment and create even more jobs. This growth will benefit the BPO sector and contribute to the island nation’s overall economic development.
With its strategic approach and commitment to creating a supportive ecosystem, Trinidad and Tobago is poised to become a leading force in the global BPO landscape.
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Suroy suroy, H. J. (2024, October 21). Trinidad and Tobago to add 950 BPO jobs. Outsource Accelerator. Retrieved from https://news.outsourceaccelerator.com/trinidad-and-tobago-950-bpo-jobs/
Oxford Business Group. (2022, November 15). Trinidad and Tobago positions itself as regional centre for ICT and business process outsourcing. Retrieved October 24, 2024, from https://oxfordbusinessgroup.com/reports/trinidad-tobago/2020-report/economy/bright-prospects-investors-take-steps-to-position-the-country-as-a-regional-centre-for-business-process-outsourcing
