Recently, Colombia was ranked by the Offshore BPO Confidence Index 2021 as the most reliable country to establish BPO operations. Learn some of the reasons that give the country this recognition.
Off shore BPO Confidence Index takes into account the responses from more than of more than 100 managers of BPO centers in 12 countries.
Political and economic stability
Colombia is one of the most politically and economically stable countries in Latin America. Compared to other countries in the region, it has outstanding economic strength. Proof of this is that Bogota has a GDP even higher than that of entire countries such as the Dominican Republic, Costa Rica, and Panama.
In this area, the index also highlights the efforts made by the Government to develop and strengthen the private sector, the management of the pandemic, and the policies implemented to boost economic recovery.
For this industry, telecommunications, logistics, and hospitality services are essential. In this variable, the study highlights Colombia’s strategic location in the middle of the Americas, which allows it to be very close to strategic countries for the BPO sector, such as the United States.
In this regard, Bogota stands out from other cities in the country by having the most important airport in Colombia and the third in Latin America in terms of passenger movement, with 46 direct international flights.
In Colombia there is a wide availability of qualified human talent. Among the conditions highlighted by the index is the fact that since there are large foreign companies with BPO operations installed in the country, there is a lot of experience and great professionals trained in this sector.
In Bogota, for example, there is a human talent of more than 6 million people, and it is estimated that 68% of the bilingual people in Colombia are located in this city.
The report also emphasizes that Colombia has one of the most neutral accents in Latin America, a key factor when it comes to serving diverse markets in other countries.
Scalability and industry cohesion
The index highlights Colombia as a country where business and human talent have all the potential to grow in the coming years, being the third largest market in Latin America in this sector, after Brazil and Mexico.
Proof of this favorable environment for business growth is the fact that the presence of companies with foreign capital in Bogota has grown by 200% in the last 12 years, with more than 1,500 foreign companies in the city.
On the other hand, the study emphasizes that the business environment for this industry in Colombia is favorable, since there is healthy competition, cooperation between different companies, and the support of the BPRO association.