Due to a plethora of competitive advantages, Belize has proven to be one of the most attractive nearshore and offshore destinations in the region. Since the establishment of the first Call Center in 2005, the Offshore Outsourcing Industry has experienced unprecedented growth in the form of an 80% industry increase, and the subsequent opening of approximately twenty four (24) active centers to date offering services in predominantly Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO) and other emerging industries in Belize such as Information Technology Outsourcing (ITO).
Several competitive advantages in the form of low Average Cost of Labor and Commercial Space are some of the key underlying factors that propel the industry forward.
The Average Cost of Labour stands at $2.50 USD an hour at entry level, and $5.00-$6.00 USD at supervisory level. It is important to consider, however, that according to the Labour Laws of Belize, the cited minimum wage stands at $1.65 USD ($3.30 BZD) an hour.
The continued development of this industry is strongly supported by the Government of Belize (GOB) through the competitive applicable incentive programs, specifically in the form of the Designated Processing Areas (DPA) Program, tailored for companies that engage in IT Enabled Services including other Industries. The DPA provides select tax exemptions for development for a period of up to ten (10) years. Benefits applicable to the Offshore Outsourcing Industry under the program include the following:
- Exemptions from Custom and Excise duties and taxes on imported goods. This includes General Sales Tax, Environmental Tax and Revenue Replacement Duties;
- Exemption on Property and land tax on designated area;
- Exemption from Trade License;
- Eligible to maintain a foreign currency account in a domestic or international bank that is located in Belize.
This incentive is also complemented by training support offered by the Belize Training and Employment Center (BTEC), a unit of BELTRAIDE that offers support in the form of market-driven training and recruitment.
For more details on investment opportunities in Belize’s Offshore Outsourcing Industry, please feel free to contact our team at BelizeINVEST, a unit of BELTRAIDE!
14 Orchid Garden St.
City of Belmopan