Guatemala is fast becoming the next preferred BPO destination in the Central American region and is all set to capitalize its new position in the global market. Guatemala has so far succeeded in attracting leading global outsourcing companies including Capgemini, 24/7 customer, ACS, Help Desk Now and many more are to set up their offshore delivery centers, BPOs and call centers. Cultural and physical proximity to US, coupled with good infrastructure facilities and skilled human capital makes Guatemala one of the most attractive BPO destination for companies looking for outsourcing.
What factors attract firms to outsource in Guatemala?
Guatemala offers excellent state of art technology and telecommunication capacities. The availability of highly skilled bilingual speaking human capital at a competitive cost drives the global investors to the region. Another prominent reason is the growing demand for near shoring by U.S. companies. Other main drivers for outsourcing to Guatemala are as follows:
- Guatemala offers cost-effective price structures. The country has not caught up by any inflation rise and the outsourcing companies in the country will be able to offer more cost effective services to the clients.
- According to the ratings of the Standard and Poor’s, Guatemala currency risk rate is BBB, which means the currency is subjected to less fluctuation and the economy is stable.
- High GDP growth.
- Guatemala is abundant with bilingual people. They are having a growing population of English-Spanish speaking people. This skill makes them capable to cater to the needs of U.S. market having huge Spanish speaking population.
- Guatemala’s physical proximity and cultural similarity with U.S. helps the workforce offer a shorter and higher quality response to the U.S. customers.
- They are in same time zone as U.S. and Europe and that gives a competitive advantage to BPO firms there.
- Guatemala has no strict laws towards foreign investors. They are free to move their investment in and out of the country. The government also offers tax benefits to foreign investors.
Guatemala government is also focusing on training at school and graduation level to develop the English speaking skills of the student population which will increase the supply of human talent in the industry. Currently, many BPOs are working together to enhance the talent of their workforce.
Major BPO Players in Guatemala BPO industry are:
- Capgemini: They have set up their delivery centers for KPO, BPO and finance and accounting functions in Guatemala.
- 24/7 Customer: 24/7 customer have their call center facility providing services to clients in America, Asia and Europe in nine languages.
- ACS: ACS has set up their voice, logistics and data processing delivery centers in Guatemala as a strategic decision.
Guatemala employs more than 9000 people as of now across 50 call centers. More than half of them serve the local market and the rest deliver services to customers of Central American, Mexico and U.S. markets.