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More than 8,000 employed by Business Process Outsourcing (BPO) companies in Belize

Posted: Friday, September 15, 2023. 9:51 am CST.

By Zoila Palma Gonzalez:  On Tuesday, September 12, 2023, cabinet met during its regular session.

Cabinet was updated on the ongoing International Monetary Fund (IMF) staff visit. 

Recognizing the continuous outperformance of the Belizean economy beyond IMF’s projections, at the IMF’s request, Minister Chris Coye spoke on the ongoing transformation of the economy.

This includes the emergence of the Business Process Outsourcing (BPO) sector as a material economic sector now employing over 8,000 persons, generating tens of millions in foreign exchange, and serving as a part of the impetus for the construction boom. 

In addition, the rebound and transformation of the tourism economy was discussed.

Along with the BPO sector, this is fueling a boom in wholesale and retail services. 

The Government also recognized that the transformation also includes the growing significance of self-employed persons and small businesses (MSMEs) as the entrepreneurial spirit of the Belizean people and is nurtured by the government’s investor-friendly and pro-MSME policies.

 

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