Cabinet: B.P.O Sector Expansion Adds Significant Boost to Economy

The emergence of the Business Process Outsourcing (B.P.O.) sector, which is expanding its employment base to over eight thousand, is said to be generating tens of millions in foreign exchange and serving as a significant part of the economic boom in our country. That’s one of the pronouncements that Cabinet made this week when it discussed what came out of the recent visit of I.M.F officials to Belize. It was noted that along with the B.P.Os, the construction industry and transformation of the tourism economy, where tourists are staying longer and spending more, have resulted in that economic growth. These improvements, according to the government, have also fueled a boom in wholesale and retail services. These realizations, the government maintains, are because the Belizean economy outperformed the projections of the I.M.F.