PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica

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identify the developmental requirements in order to fulfill the needs of high potential SMEs and entrepreneurs. 3. Third, long term funding partners would be identified in order to provide technical assistance and implementation of the ‘hub’ through the establishment of linkages among the stakeholder bodies. Long term funding from development partners as well as public and private sector sources would also be directed to the financing of seed and growth capital requirements of SMEs. 165
D ____________________ Business Process Outsourcing (BPO) Industry 62 1.0 Background Jamaica as an outsourcing destination is currently categorized by a concentration of call or contact centres and BPO activities. Approximately 26 firms, which have created some 9,500 jobs within the offshore industry, offer services ranging from finance & accounting functions, voice customer support to network operations support & debt collection. Figure D.1 graphically illustrates the range of services offered by the local industry. Figure D.1 Structure of the Jamaican BPO Industry Data entry/ transcription Call/contact centres Business process outsourcing (BPO*) Knowledge process outsourcing (KPO**) Non-core operations in Jamaica Core operations in Jamaica Limited or no operations in Jamaica Increasing complexity * E.g., Finance & Accounting, Human Resources, payments processing, purchasing, insurance management ** E.g., Market & equity research, analytics & data mining, legal services, engineering design, contract development 2.0 Growth Trends Data from JAMPRO show that while the industry has attracted capital investment of over US$691 million and generated 10,871 jobs between 2006 and 2010, there have been no significant investments in the past five (5) years. This is juxtaposed against robust performance in the global BPO market over the last 10 years which is projected to continue over the next five years. The International Data Corporation (IDC) projects that the global BPO market will grow by 9% per annum and earnings will climb to just under US$1 trillion by 2014. Offshore BPO is also expected to increase at a cumulative annual growth rate of 25% reaching US$135 billion by 2014. The Caribbean and Latin American market accounts for US$2.5 billion of total revenue from the BPO industry, representing 5.8% of the total market share. This opportunity is expected to grow by some 20% per year and should therefore amount to US$5 billion by 62 Prepared by JAMPRO. 166
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i A GROWTH-INDUCEMENT STRATEGY FOR
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To the many ordinary Jamaicans who
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Preface The Jamaican economy has ex
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for making a determined start on th
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the private sector groups, listed b
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Citibank N.A. Jamaica Branch Grace
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need for “additional fiscal space
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Chapter 2 ________________ Summary
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1.0 The Economic Situation Today 1.
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expected to provide an essential an
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Table 2.1. The Policy Framework: A
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programme of social inclusion that
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Strategic Focus Table 2.2. Growth S
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6.0 Short-Term Growth Stimulus 6.1
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decline of 2.0 - 2.2 percentage poi
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Table 2A.2. NWA Projects To be Fast
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Table 2A.5. Community Renewal Proje
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Table 2B.3. Impact of Repairing Far
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Appendix 2C Methodology of the Grow
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Part I _________ Overview 28
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2.0 Vision 2030 Jamaica Before delv
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3.0 May 2010 Security Event and Aft
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the longer than anticipated global
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April July October January April Ju
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Three industries recorded increases
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9.0 Proposals for Growth-Stimulus I
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targeted economic and social infras
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partnering with government to disco
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3.0 Growth Inducement Strategy The
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Growth-Inducement Strategy Alignmen
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50 Part II _________ Situational An
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inadequate provision of public infr
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2.0 Macroeconomic Assessment 2.1 In
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Increased global oil consumption wa
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$4,742.0 million and $688.4 million
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Non -Traditional Domestic Exports E
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negative impact of the Jamaica Debt
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ethanol and paint, whereas lower de
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Analysis of preliminary GCT data re
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The number of ship calls to the isl
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industry was, however, estimated to
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4.0 Projected Performance 4.1 Calen
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increased marketing and extension s
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Electricity & Water For FY 2010/11,
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J$ Million Figure 5.1. Private Sect
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2011/12). These extreme weather eve
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Chapter 6 ________________ Assessme
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creates allocative inefficiencies,
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Million $ Per cent Jun-10 Mar-10 De
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Table 6.1. Employed Labour Force by
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J$ million Mar-10 Dec-09 Sep-09 Jun
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FIGURE 7: GROSS NATIONAL SAVINGS RA
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4.10.2. However, the extent of the
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Part III ____________ Analytical Fr
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functional relationship between the
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It follows that: (5) s = I/Y = [S -
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However, the existence of measureme
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(d) v* = Y*/K* This is a measure of
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in Chapter 8. The mutual interactio
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Transforming the complex set of str
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Appendix 7A A Methodological Note T
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Chapter 8 ____________________ Asse
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Page 133 and 134: progressive Jamaica-based firms and
Page 135 and 136: Table 8.2. Jamaica: Doing Business,
Page 137 and 138: Table 8.4. Global Competitiveness I
Page 139 and 140: Table 8.5 (continued) Rank Indicato
Page 141 and 142: Rank* Constraint Table 8.7 Business
Page 143 and 144: Chapter 9 ___________________ Inter
Page 145 and 146: 3.0 The Burdens of LAC’s Logistic
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Page 149 and 150: Figure 9.4. Proportion of Primary A
Page 151 and 152: 6.0 Logistics are Essential for Tou
Page 153 and 154: 7.0 Fundamental Steps Forward for J
Page 155 and 156: Part IV ________________ Policies a
Page 157 and 158: Current Status: Cabinet by decision
Page 159 and 160: e more than compensated for by the
Page 161 and 162: B ____________________ Eliminating
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Page 165 and 166: 5.0 Expected Outcomes These measure
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Page 171 and 172: Table C.1. Proposed Implementation
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Page 175: Develop formal and informal links t
Page 179 and 180: 5.0 Recommendations Based on the ma
Page 181 and 182: 2.5 Coexistent with the levels of u
Page 183 and 184: industry as well as provide funding
Page 185 and 186: Table E.2. Unemployed Labour Force
Page 187 and 188: indirect losses experienced when th
Page 189 and 190: Table F.1 (continued) Area Type of
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Page 195 and 196: Table G.1 Priority Initiatives Obje
Page 197 and 198: Table G.2 Phased Implementation Pla
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Page 201 and 202: 3.0 Transparency Guarantees By desi
Page 203 and 204: and Coordinating Unit (PCMU) was es
Page 205 and 206: therefore need to have sanctioned o
Page 207 and 208: Figure I.1. Functions of National P
Page 209 and 210: The rationalisation was guided by t
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Page 215 and 216: Part V _______________ Panelists’
Page 217 and 218: With the benefit of hindsight, some
Page 219 and 220: ight. Where we as a society fail is
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Figure C.1. National resilience is
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