JamaicaJamaica's BPO Sector Must Shift
Minister Aubyn Hill says the sector must move into higher-value knowledge services after earnings fell to $750 million. He named cybersecurity and data analytics as opportunities.
Global Newsflix 2 min read
Jamaica's business process outsourcing sector must shift to higher-value knowledge services to stay competitive, Minister of Industry, Investment and Commerce Aubyn Hill said. The sector's earnings fell from about $1 billion to $750 million last year.
Hill made the call at the Global Services Association of Jamaica event in New Kingston on September 30. He said the sector should not refill lost work with the same business model used 10 years ago.
The minister named software development, cybersecurity, data analytics, and AI-enabled services as opportunities for growth. He said Jamaica competes with India and the Philippines on lower wages.
Hill said the BPO sector has the potential to grow further and provide higher-paying jobs. He noted that the sector employs thousands of people and has helped Jamaica prove its talent can serve global clients.
The minister's push follows recent job losses across Jamaica's outsourcing industry. Hill said Jamaica will change and look at new markets, which means higher-paying jobs, exports, earnings, and growth.
The minister said the next step is increasing the value of the services provided. He said this means expanding into higher-value knowledge process outsourcing, back-office cybersecurity services, and higher-level fintech.
Hill said what Jamaica did 10 years ago cannot work now, and the country must look to new markets and higher-value services. He said this will lead to higher-paying jobs, exports, earnings, and growth.
Key facts
- Jamaica's BPO sector earnings fell to $750 million last year
- Minister Aubyn Hill says the sector must shift to higher-value knowledge services
- The sector competes with India and the Philippines on lower wages
- The minister named cybersecurity and data analytics as opportunities for growth
Three perspectives
Neutral
The minister's call for the BPO sector to shift to higher-value knowledge services comes after a decline in earnings. The sector's ability to adapt will be crucial to its future growth. The government's support for the sector will be important in this transition.
Positive
The minister's push for higher-value knowledge services could lead to higher-paying jobs and increased exports. This could have a positive impact on Jamaica's economy and provide new opportunities for the country's workforce.
Negative
The decline in earnings and recent job losses in the outsourcing industry are concerns for the sector's future. The competition from countries like India and the Philippines on lower wages may make it challenging for Jamaica to attract new investments.
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