Durrant Pate/Contributor

A new policy paper is confirming that Jamaica has a ‘goldmine opportunity’ in the global digital services sector, which can provide much economic benefits. 

The country’s growing strength in sector is explored and assessed in Nearshore America’s latest white paper ‘Jamaica’s Digital Advantage‘, showing that the island is positioning itself to become a launchpad for the growth and thriving of the global digital services industry.

The paper covers all aspects of Jamaica’s digital transformation services industry: from skill development programmes and government support, to ICT infrastructure and was developed based on research and data from Nearshore Americas. Supplementary information was provided by the Government of Jamaica, the Inter-American Development Bank and the World Bank.

Highest GSS growth across the globe

The research shows that the global services sector (GSS) in Jamaica has averaged 20 per cent employment growth over the last five years, which is among the highest in the world with the sector represented by global leaders such as Conduent, IBEX, itelBPO, Sagility, Startek, Sutherland Global and VistaPrint. The Jamaican authorities have been pushing for the development of the sector over the past couple years. 

One of the key factors behind Jamaica’s success in the global sector is the government’s commitment to removing red tape and making governance more transparent. For example, investors in Jamaica can now use the “Business Gateway” to register their businesses and seek permits and licenses.

The whitepaper concludes, “Jamaica continues to mature as an upsourcing destination for the GSS with digital skills development and the deployment of digital technology platforms, forming key components of its value proposition. As both the public and private sector in Jamaica embrace digital innovation, the role of the cloud, edge computing, high-speed networks, and smart devices –among other technologies– will determine how products and services are made, delivered and supported.”

Jamaica’s positive reputation in the sector

Given the positive relationship between enterprise digitalisation and ESG performance and Jamaica’s reputation for service excellence and customer centricity, it has been assessed that the island’s pioneering approach to digital transformation will continue to build its competitive advantage within the GSS.

Earlier this year, the Holness administration allocated over US$50 million to bolster the global services sector and accelerate a slew of initiatives aimed at boosting its technology workforce. Jamaica’s global services industry comprises more than 80 companies that generate over US$1 billion in revenue annually. 

Employment in the sector is also growing, recently reaching 60,000 jobs. The sector has registered around 20 per cent employment growth in the past five years.

Jamaica’s broadband networks are also expanding rapidly with over 80 per cent of the population now connected to high-speed fiber networks. By 2025, the global digital services sector is expected to grow to US$1 trillion. 

Of this, over US$10 billion in regional revenue and investment will be represented by business outsourcing in Latin America and the Caribbean. This demand will only increase, given that the trend toward digitalisation has been firmly established.