Nestled in the Western Caribbean in the Yucatan peninsula between Mexico and Guatemala, Belize is a hidden gem that attracts adventure and leisure
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1 Nestled in the Western Caribbean in the Yucatan peninsula between Mexico and Guatemala, Belize is a hidden gem that attracts adventure and leisure tourists alike. It is a place for those who are looking for a unique destination where Nature meets Culture; Natural Wonders meet Modern comforts and Tradition meets Modern Values. Belize is a rising star when it comes to the Business Process Outsourcing (BPO) industry. Come discover why Belize is not only the perfect BPO destination, but also Your Natural Nearshore.
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3 AREA 8,867 sq. miles (22,966 sq. kilometers) POPULATION 342,636 CAPITAL Belmopan LANGUAGE English, Spanish, Creole KEY TRADING PARTNERS US, UK, Caribbean CLIMATE Tropical Table of Contents 1. Country Profile 2. Belize BPO Sector Overview 3. Talent Pool 4. Skill Development Programs 5. Infrastructure 6. Telecom 7. Investment Incentives 8. Business Environment 9. Belize BPO Sector Value Proposition
4 Country Profile Belize the northernmost Central American and the most Western Caribbean nation is a diverse nation, encompassing many cultures and languages. Strategically located in Central America bordering the Caribbean Sea, it is uniquely positioned between North and South America flanked by the Caribbean islands to the East and Guatemala and Mexico to the West. It is a nation of unparalleled natural beauty, warm and friendly people, great business environment and a range of investment opportunities. Belize, earlier known as the British Honduras, was a British colony before attaining independence in Its location and history make Belize a unique confluence of Garinagu, Hispanic, Mestizos, Creoles, and East Indian cultures. Rated as one of the top tourist destination in the world, Belize is a fast growing economy focusing on the service sector. QUICK FACTS Location: Central America, bordering the Caribbean Sea, between Guatemala and Mexico. Area: 8,867 sq. miles (22,966 sq. kilometers) Population: 327,719 (July 2012 est.) Capital: Belmopan Currency: Belizean Dollar Labor Pool: 148,000 Unemployment: 30% (WEF 11-12) Key Cities: Belize City, Orange Walk Town, Ladyville (Belize City suburb), Dangriga, and Greater San Ignacio Area Language: English, Spanish, Creole GDP: USD 2.8 billion (2012) Literacy Rate: 76.9% Key Trading Partners: US, UK, Caribbean Climate: Tropical Key Sector/Exports: Tourism, Sugar, Banana
5 Belize BPO Industry As the Business Process Outsourcing (BPO) industry spreads its wings across the world tapping into newer locations to mitigate risks and reduce costs, Belize offers some unique opportunities for investors. It is the only Latin American and Caribbean location offering the dual advantage of being a cost effective nearshore location and natural English language skills. With English as its official language and a significant number of people conversant in Spanish, it is a truly bi-lingual location. The Belize BPO sector is on a strong growth trajectory owing to the advantages of a young population, natural flair for services, conducive business environment, world class telecom infrastructure, Special Zones and strong government support. High workforce availability, BPO salaries 60-80% lower than US locations, low attrition rates further position Belize as a great value destination. Belize City, the largest city in Belize, is the hub for BPO activities and also home to some of the largest BPO s offering a range of services including voice/non-voice customer support, sales, data processing and documentation services. Ladyville, Belmopan, and Orange Walk County are some of the other emerging locations. Our business outsourcing and nearshoring initiatives continue to pay dividends, and there are now upwards of two thousand persons employed by the ever increasing FDI sponsored number of call centers - Prime Minster Dean Borrow, Independence Day Speech, Sep 21,2012
6 Why Belize as your next Hub? Top 10 Reasons and Many More Bi-Lingual Language Skills - Only Central American and Caribbean country with truly bi-lingual capabilities (English and Spanish) Time Zone Advantage - Mirrors US Central Standard Time (CST) Competitive Salaries - BPO salaries, attrition the lowest in Central America/Caribbean Proximity - Within 2 to 4 hours of flying time from key US cities Stable Environment -One of Most Stable Political, Social, Business Environment in Central America Strong Government Support - BPO identified as a Priority Sector Stable Currency - Belize Dollar (BZD) fixed at 2:1 against US Dollar Telecom Infrastructure - Modern telecom infrastructure with high redundancy Incentive Programs - Multiple incentives including Free Repatriation of Profits, Dividends and Capital etc. Ease of Employment - Easy availability of Work Permit for Non-Residents Visa - No visa requirement for US, Canada, EU and the Caribbean Community International Connectivity - Direct flights from Dallas, Houston, Charlotte, Atlanta and Miami Top Tourist Destination - Prime Tourist /Retirement Location in America s Multiple FTA s, Double Taxation Avoidance Agreements, Regional Trade Agreements - UK, Sweden, Denmark, Caribbean Community (CARICOM) and Central America Today providers have several choices when it comes to nearshore options. Belize stands out as a destination that not only provides all the nearshore benefits at an attractive cost, but also possesses native English skills and work ethic that resonates with North America s discerning customers. - Anupam Govil, Partner, Avasant
7 Talent Pool Like no other... Belize s young talent pool and their skills are quite unique for the Latin American and the Caribbean region. The Belize government with its focus on development of high quality skill pool has committed a significant portion of the national budget on educational and skill development programs. Around 65.2 percent of the total population or about 148,000 people form the core of Belizean labour force. With a median age of 21.3 years, one of the lowest in the region, Belize has abundant talent suited for BPO services. Over 5,000 graduates, a majority of them holding Management and Accounting degrees, join the workforce each year after studying in University of Galen and University of Belize, the two major universities and a number of Junior Colleges offering high quality secondary and vocational education. With English being the official language and medium of instruction, not only is the skill pool naturally conversant in English, but also over 40% speak Spanish making them apt for bi-lingual BPO services. As a fast emerging offshore banking hub there is also a high availability of trained accounting and management professionals especially suited for F&A BPO services. Neutral accent, high levels of service orientation, cultural affinity to the US all add towards providing high standards of BPO services. A high school graduate with supplemental training provided through various vocational institutes is considered skilled enough to be employed in the BPO sector.
8 Districtwise Labour Force Statistics Districts Corozal Orange Walk Belize Cayo Stann Creek Toledo Labour Force Labour Force Distribution % Unemployment Rate % Source: Statistical Institute of Belize High unemployment levels especially in the BPO suitable age category ensures availability of trainable resources in turn easing the recruitment process, limiting wage rate escalations and staff turnover. Currently, about 26.3% of BPO employees are below 20 years of age while 58.1% are between 20 and 29 years Business Friendly Labor Laws Belize has a clear labor regulations safeguarding both business as well as employee interests under the Labour Act and Chapter 297 of the Laws of Belize. Some other notable acts include the Social Security Act, the Trade Unions and Employers Associations Registration and Recognition Act etc. ensuring smooth business operations. * Unemployment Rate % as per Statistical Institute of Belize 12
9 Innovative Skill Development Programs With BPO being a focus sector, the Belize Government has rolled out numerous programs aimed specifically at the outsourcing sector to improve talent availability as well as ensuring high quality. Some key initiatives include: Subsidized BPO Training for Students - A national government run program initiated in October 2011 provides subsidized BPO training to eligible students National Call Center Training Institute - The institute has been set up to provide BPO specific skills training to those with basic linguistic skills interested in employment in the BPO sector Certification Program with International BPO Training Institute - The program aims to ensure local talent is trained as per the international standards to ensure high quality service levels Additional Spanish Training in Collaboration with University of Belize To further improve the existing bi-lingual capability, this program aims at training Spanish speaking populace as per BPO sector requirements. BELTRAIDE is also partnering with the Ministry of Education ITVET Program, Center for Employment Training (CET), and the ICT Center in Belmopan to roll out more such programs
10 World Class Infrastructure Belize offers high quality infrastructure specific to the requirements of BPO operations. High quality buildings, reliable electric supply, efficient international transport system all add up to ensure seamless operations. High Quality Real Estate With two operational Special Zones and an incubation facility under development, Belize offers the requisite facilities to meet the requirements of large as well as small and medium BPO s. Companies investing into the BPO sector are also eligible to avail numerous incentives and tax waivers for the acquisition and development of BPO specific real estate. The Belize E Business Free Zone Park, a newly developed IT park, offers over 50,000 sq. ft. of office space spread over seven buildings for BPO and other business services. The park provides complete background fiber optic network for both voice and data communication, International Private Lines (IPL), Direct Exchange Lines, and dedicated internet services suitable for BPO operations. The park is conveniently located near the Phillip Goldson International Airport. With a favorable Land to Population ratio of 8,867 sq. miles for 327,000 people, Belize offers multiple opportunities for commercial real estate development. Reliable Power Supply A reliable electric network spread across the country ensures minimal downtime for critical real time BPO operations. Belize Electricity Limited (BEL) ensures optimal power supply through a national electricity system, which in turn is connected to the Mexican electricity grid. Charges vary between US$0.23 and US$0.25 for 10,000 KwH to 20,200 KwH. A BPO operation with over 700 employees incurs an expenditure of approximately US$ 15,000 a month.
11 World Class Transport As an international tourist destination, Belize has world class air transport infrastructure with direct connectivity to all major US cities. With just 1-2 hours of flying time, no visa restrictions for US citizens and low travel costs, Belize is a choice location for BPO processes requiring constant client-service provider interactions. Being a part of mainland Americas it is also conveniently connected through air and road network with other Central American countries including Mexico, Guatemala and Nicaragua. This ensures easy talent pool movement across borders for BPO s with multiple operational locations. Fiber Optic Networks The Belize E Business Free Zone Park operated by ICSL, a subsidiary of BTL, provides a range of telecom services catering to the BPO sector including Voice over IP, Dedicated Internet, International Private Lease Lines, PBX and other customer premise equipment, Phone services, Server Housing as well as complete redundancy within the park. Starting 2013, additional capacity is being added to the existing network to further improve redundancy and making the services more cost effective. Belize has also set up a domestic fiber optic network connecting all major cities and towns. The government is committed to further reducing telecom tariffs to competitive levels over the next year.
12 Attractive Incentives & Benefits 20 year tax holiday with option to deduct loss from profits - Ease of offsetting initial losses incurred after operations turn profitable Import/export duty exemptions - Exemptions on import of equipment related to operations Full repatriation of funds - Full repartition of both capital and profits thus ensuring high degree of investment safety Exemption on property and land taxes, excise, sales, consumption taxes, taxes on trade turnover, foreign exchange and transfer tax - Exemption from local taxes/levies lowering operational costs and further improving service competitiveness Dividend tax exemption in perpetuity - No tax on dividends paid out No restriction on operating foreign currency bank accounts in Belize and Abroad - Ease in foreign exchange and overseas transactions No Import and export licensing requirements - Less paper work resulting in faster operationalization of projects No trade licenses - No trade licenses required to commence operations lowering time to market Assistance with recruitment - Assistance in recruiting BPO staff and agents through BELTARIDE Government training programs - Ensuring high availability of trained BPO professionals Investment and start up facilitation through application fast tracking, real estate assistance - BELTRAIDE through a dedicated BPO cell assists investors at every stage of the investment process ensuring smooth initiation of operations Stable Business Environment With strong democratic values, Belize offers the most stable business and political environment in the entire Central American and the Caribbean region. Political Environment Belize has a thirty year history of strong democratic leadership at all levels since independence.
13 Legal Environment»» As a former British colony, Belize follows the English Common Law based on established case law. This in unlike other Latin American countries that follow the Civil Law legal system. Business Environment A positive business environment with strong legislative and regulatory support safeguarding investor interests is central to the Belizean trade regulations. As an emerging offshore banking location, the Belizean government has enforced strict confidentiality and privacy regulations under the International Business Companies (IBC) Act, Code of Conduct and Belize Trusts Act. Since 1990, over 25,000 offshore businesses or trusts have been registered in Belize.
14 Marquee Belizean BPO Operators The Belize government has also initiated its Belize National ICT Strategy program focusing on ICT sector development with BPO being a core focus area. Fulton Data Processing Ltd Cititrust Intl. Ltd Cititrust Intl. Incorporated Administrative Corporate Services Ltd. Ready Call Center Ltd. Infotel International Ltd. Transparent BPO Ltd. Clear Call Belize Ltd Invictus Solutions Ltd. Captain Marketing Belize Ltd.
15 Belize BPO Much More that you Expected Belize has an established BPO sector that has been registering considerable growth over the past few years. The existing employee base of 1,800 agents is expected to touch 3,000 agents by With call center wages as low as US$3.5 at entry level and US$5-6 at supervisory levels, Belize offers one of the best cost to value quotient. The local operations are as much as 60-80% cost effective than onshore operations and incur management overheads much lower than other comparable locations.
16 Belize BPO Facts & Figures Key Locations: Belize City, Belmopan, Ladyville, Orange Walk, Dangriga and Greater San Ignacio Area Industry Export Growth Rate: 10.9% (2011) Average Agent Age: 24 Years Gender Ratio: 40:60 (Male: Female) Shifts: 2 or 3 shifts, seven days a week Key Industry Verticals: Telecom Tourism/ Hospitality BFSI Small and Medium Enterprises SME s (across verticals) Key Service Lines: Voice Support Customer Support No Voice Customer Support Data Processing Documentation Support Key Service Locations: US, Canada, UK Key Language Offerings: English, Spanish Average Agent Salary: US$ 500 per month Annual Salary Increments: 3-5% Annual Bonuses: US$ 100-$250 Salary Overheads (Compulsory): Social Management / Administrative Salaries: Team Leaders US$ 1000 per month Quality Assurance US$ 750 per month Supervisors US$ 1000-US$1250 per month General Manager US$ 2500 per month Accountant US$ 1750 per month HR US$ 2000 per month Real Estate Rentals: From US$ 1 to US$ 1.3 per sq. ft. month Belize is FUN as well! Belize is not all work but a lot of fun as well. As a top tourist destination, it attracts visitors from all over the world for a bit fun and frolic. From pristine beaches, rain forests, largest barrier reef in the Western Hemisphere to mystical Maya temples it is truly magnificent. The boundless atmosphere, laid back lifestyle, warm and friendly populace, tropical climate apart from the pristine unspoiled natural beauty makes it a destination of choice for tourists, retirees and expatriates alike.
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