Jamaica poised to capitalise on trillion-dollar global services industry
Published:Sunday | March 23, 2025 | 10:04 PMChristopher Thomas/Gleaner Writer
WESTERN BUREAU:
Jamaica must position itself to seize emerging opportunities in the global services industry, which is projected to generate an estimated US$1.38 trillion globally by 2032, according to Wayne Sinclair, president of the Global Services Association of Jamaica (GSAJ).
Speaking at the cocktail launch of the Outsource2Jamaica 2025 convention on Thursday at the ATL Showroom in Montego Bay, St James, Sinclair emphasised Jamaica’s strategic advantage in benefiting from the industry’s rapid expansion.
“We are at a crucial point for both the industry itself and Jamaica’s role in it. The Statistical Institute of Jamaica has reported that our industry has been growing at an annual rate of approximately 20 per cent,” Sinclair said.
“Globally, a survey by Benchmark International projects the value of the global services industry, which includes the business process outsourcing (BPO) sector, to reach a staggering US$1.38 trillion by 2032.”
Sinclair highlighted that Jamaica’s proven track record in service excellence positions the nation to capitalise on the sector’s continued expansion.
“We have demonstrated best practices, provided high-quality service, and consistently delivered value to our international partners. Jamaica is well positioned to maintain and strengthen its role in this growing industry,” he said.
To sustain this momentum, the GSAJ is prioritising key technological advancements such as software development, IT support, and cybersecurity. Additionally, efforts are being made to improve employee retention within the sector.
“The GSAJ, in collaboration with the Government of Jamaica, Jamaica Promotions Corporation, and the Jamaican Special Economic Zone, has established a global services working group. This group is focused on addressing industry challenges while identifying new opportunities,” Sinclair explained.
“Workforce attrition and education are major areas of focus. We recognise the need for stronger employee engagement and retention strategies to reduce turnover in the industry.”
TECHNOLOGICAL TRANSFORMATION AND COMPETITIVENESS
Meanwhile, Gloria Henry, vice-president of BPO and Logistics at the Port Authority of Jamaica, reaffirmed the country’s commitment to technological transformation as a means of remaining competitive in the global market.
“For years, we have been part of an ongoing technology transformation. We have progressed from the early days of dial-up internet to now operating centres of excellence with professionals managing operations across Lithuania, South Africa, New Zealand, and beyond,” said Henry.
“Jamaica has built a robust and solid technological foundation to support businesses worldwide.”
Sinclair and Henry made their remarks ahead of the fifth staging of Outsource2Jamaica 2025, scheduled for April 10 at the Montego Bay Convention Centre.
The convention, which will be held under the theme ‘Driving Excellence’, will feature a keynote address from Prime Minister Dr Andrew Holness on its opening day.