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Key regions: United Kingdom, United States, Brazil, Japan, Netherlands
Guatemala, a country in Central America, has been making strides in the Business Process Outsourcing (BPO) market in recent years.
Customer preferences: Guatemala's BPO market has been growing due to its proximity to the United States, which is the largest market for BPO services. Additionally, Guatemalan workers are known for their proficiency in the English language, making them an attractive option for companies looking to outsource their services.
Trends in the market: One trend in the Guatemalan BPO market is the increasing demand for call center services. This is due to the country's large pool of bilingual workers, who are able to provide customer service in both English and Spanish. Another trend is the growth of the information technology (IT) outsourcing sector in Guatemala. As technology continues to advance, more companies are looking to outsource their IT services to countries like Guatemala, where the cost of labor is lower.
Local special circumstances: One factor that sets Guatemala apart from other BPO markets is its cultural affinity with the United States. This makes it easier for Guatemalan workers to understand and communicate with their American counterparts, which is essential for providing high-quality BPO services. Additionally, the Guatemalan government has been supportive of the BPO industry, offering tax incentives and other benefits to companies that choose to outsource their services to the country.
Underlying macroeconomic factors: Guatemala's economy has been steadily growing in recent years, which has helped to create a stable business environment for BPO companies. Additionally, the country has a young and growing population, which means there is a large pool of potential workers for BPO companies to draw from. Finally, Guatemala's location in Central America makes it an attractive option for companies looking to outsource their services to 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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)