Jamaica in the Offshore Services GVC

Jamaica in the Offshore Services GVC
Year:
Listing Type: Research Reports

Vivian Couto | Karina Fernandez-Stark

Over the past decade, the offshore services industry has experienced tremendous expansion and has emerged as a dynamic global sector, growing at faster rates than exported goods. As a result, developing countries are no longer relegated to manufacturing and natural resource-intensive industries for development. As companies frequently scout new locations with the necessary human capital to provide services at a low cost,   opportunities to drive sustainable growth through the expansion of the knowledge economy are abundant, especially in Latin American and the Caribbean nations. Jamaica’s offshore services industry has expanded significantly since its inception in the early 2000s, doubling employment in the last three years. As an emerging location for customer support, upgrading opportunities are beginning to emerge. This report uses the global value chain framework to map Jamaica’s current participation in the offshore services industry and identify ways to upgrade to higher value-added segments.

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