In today’s world many companies are outsourcing their call center to places like India and China. With India and China’s massive labor force one could see why these companies choose to take advantage of such cheap abundant labor.
Outsourcing Closer to Home
So what about countries closer to the United States? Panama for instance, is a relatively small country in Central America with a population of 3.5 million people. This is not much when compared to India and other larger nations, but bigger isn’t always better. Panama hosts multi-cultural influences, displayed in the countries food and way of life. It has modern cities and a natural beauty that makes Panama a great country to start a business. Economic advancements however have been delayed largely due to problems with environment issues and political turmoil. Its economy, which is largely based on a service industry, depends greatly on the dollar. Services have grown ten folds because of things such as offshore banking and administrative jobs that are also very important to the economic growth of Panama.
Panama Outsourcing
The country boasts a relatively skilled and inexpensive labor force. This is largely due to internal economic challenges, which have resulted in relatively high unemployment. About 80% of panama’s population works in some form of service industry. This skill base makes it a good fit for many outsourcing tasks.
The official language of Panama is Spanish. However many of the citizens are bilingual and speak fluent English. Panama also boast a 93% literacy rate for its population. In urban areas it has a relatively modern infrastructure with quality roads, buildings and electricity. It is among the most modern infrastructures in Central America.
There is also strong government support and tax incentives for those that choose to outsource to this country. Panama has been actively upgrading their telecommunications infrastructure and is leading Central America in this area. Internet services and other types of telecommunication continue to grow rapidly in Panama.
In general Panama is a very suitable county for outsourcing. It has a skilled labor force, tax benefits, and natural beauty. For businesses that need to visit their outsourced work force, Panama is also readily accessible from many US destinations. Feel free to use that as an excuse if you want to visit some of Panama’s best beaches.
