Key regions: United Kingdom, United States, Brazil, Japan, Netherlands
The demand for Business Process Outsourcing (BPO) services in Bhutan has been on the rise in recent years.
Customer preferences: Bhutan's BPO market has been driven by the increasing demand for cost-effective and efficient business processes. Many companies are looking to outsource their non-core functions, such as customer service, data entry, and back-office operations, to BPO service providers. This allows them to focus on their core competencies and reduce operational costs.
Trends in the market: One of the main trends in Bhutan's BPO market is the growth of the IT-enabled services (ITES) segment. This includes services such as software development, digital marketing, and e-commerce support. The ITES segment has been growing rapidly in Bhutan due to the country's skilled workforce and favorable government policies.Another trend in Bhutan's BPO market is the increasing demand for niche services. Many BPO service providers in Bhutan are now specializing in specific industries, such as healthcare, finance, and logistics. This allows them to offer more customized solutions to their clients and differentiate themselves from competitors.
Local special circumstances: Bhutan's BPO market is relatively small compared to other countries in the region, but it has several unique advantages. The country's workforce is highly educated and proficient in English, making it an attractive destination for BPO services. Additionally, Bhutan's government has been actively promoting the development of the IT and BPO sectors, offering incentives such as tax exemptions and subsidies.
Underlying macroeconomic factors: Bhutan's economy has been growing steadily in recent years, driven by the expansion of the hydropower sector and the development of tourism. This has created new opportunities for BPO service providers, as more companies are looking to outsource their non-core functions to reduce costs and increase efficiency. Additionally, Bhutan's strategic location between India and China makes it an attractive destination for companies looking to expand their operations in the region.
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.
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