Business Process Outsourcing - Belarus

Belarus

Revenue in the Business Process Outsourcing market is projected to reach US$179.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.77%, resulting in a market volume of US$205.40m by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach US$37.73 in 2024.
In global comparison, most revenue will be generated in the United States (US$146.30bn in 2024).

Key regions: United Kingdom, United States, Brazil, Japan, Netherlands

Market

Region

Region comparison

Currency

Analyst Opinion

Belarus, a landlocked country in Eastern Europe, is emerging as a prominent destination for Business Process Outsourcing (BPO) services.

Customer preferences: Belarus offers a highly skilled and educated workforce with a proficiency in multiple languages, including English, German, French, and Spanish. This has attracted many companies from Western Europe and North America to outsource their business processes to Belarus. Additionally, the country's strategic location and time zone make it an ideal location for companies to outsource their back-office operations.

Trends in the market: One of the significant trends in the Belarusian BPO market is the growth of the IT outsourcing sector. The country has a thriving IT sector, and many companies are leveraging this to offer IT outsourcing services to clients worldwide. Another trend is the increasing demand for customer service outsourcing, with companies looking to outsource their customer support operations to Belarus due to the country's highly skilled workforce and proficiency in multiple languages.

Local special circumstances: Belarus has a unique advantage in the BPO market due to its close proximity to Russia. This has enabled the country to develop a strong relationship with the Russian market, and many Belarusian BPO service providers have started offering their services to Russian clients. Additionally, the Belarusian government has taken several initiatives to promote the growth of the BPO industry, including providing tax incentives and creating special economic zones for BPO companies.

Underlying macroeconomic factors: The Belarusian government's focus on developing the IT sector has played a significant role in the growth of the BPO industry. The country has a highly educated workforce, with a strong emphasis on STEM education, which has helped to create a pool of talented IT professionals. Additionally, the Belarusian government's efforts to improve the country's business environment have made it easier for companies to set up operations in the country. The country's stable political environment, low labor costs, and favorable tax regime have also contributed to the growth of the BPO industry in Belarus.In conclusion, Belarus's highly skilled workforce, strategic location, and favorable business environment make it an attractive destination for companies looking to outsource their business processes. The country's focus on developing its IT sector and the government's efforts to promote the growth of the BPO industry are expected to drive further growth in the sector.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.