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Barbados has established itself as reputable, prime location for enterprises operating in the information and communications technologies (ICT) and BPO sectors. High quality human resources, modern infrastructure, competitive operating costs and excellent incentives create an ideal environment for ICT enterprises seeking to expand internationally.

Barbados is set up to cater to enterprises seeking to establish operations in a wide range of areas, including customer call centre and technical support, software development, transaction processing, health insurance claims processing, credit card applications, health information management, data entry and fulfilment, database management, optical character recognition (OCR) applications, web application development and computer aided design (CAD).

Barbados is a highly cost effective location for ICT and BPO activities. Companies which have established facilities in Barbados have reported a 35% (approx.) reduction in their operating costs. Salaries for customer service representatives range from US$3.50 to US$5.50 per hour, while systems analysts and programmers’ salaries range from US$1,300 per month to US$5,000 per month.

Sector Strengths

Rates and Salaries for ICT and BPO Staff in Barbados

Role

Rate/Salary

Customer Service Rep.

US$ 3.50 – 5.50 per hr.

Trainee Data Entry Operator

US$ 3.25 – 3.50 per hr.

Skilled Data Entry Operator

US$ 3.50 – 5.50 per hr.

Supervisor

US$ 5.00 – 7.50 per hr.

Insurance Claims Processor

US$ 3.50 – 5.50 per hr.

Receptionist

US$ 5.75 – 1,000 per m.

Clerk

US$ 1,000 – 1,500 per m.

Executive Secretary

US$ 1,000 – 2,000 per m.

Systems Analyst/Programmer

US$ 1,300 – 5,000 per m.

General Manager

US$ 3,500 – 5,000 per m

ICT and BPO Advantages in Barbados

  • Barbados offers a reliable telecommunications infrastructure and state-of-the-art customer service centres. Combined with its cultural affinity to North America and neutral accent, it is an ideal location for ICT and BPO operations. It has a service-oriented, loyal, trainable workforce. With competitive business costs and high levels of worker productivity, the island has a strong appeal as a cost-efficient location for international call centres.
  • Barbados has a highly educated workforce: Both its secondary and tertiary education enrolment rates are among the highest in the Caribbean[1].
  • Advanced physical and ICT infrastructure: Call centre companies are eligible for special rates on outbound calls. Metro Ethernet (MetroE) and dedicated internet connections are available at competitive rates.

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[1] World Bank Development Indicators, 2011

Investor Testimonials

The island nation's proximity to markets in the south-east Caribbean, Central America, Venezuela and Colombia added to its appeal as a hub office for RBC Wealth Management.

RBC Wealth Management (Royal Bank of Canada - Global Private Banking)
Incentives

Barbados offers a wide range of incentives to investors in the ICT and BPO sectors. These include:

  • Maximum corporate tax of 2.5% when established under the International Business Companies (IBC) Act or the International Society with Restricted Liability Act
  • Full exemption from import duties on equipment used in the operation of the business
  • Full and unrestricted repatriation of capital, profits and dividends
  • Freedom from exchange controls
  • No capital gains taxes
  • Exemption from withholding tax on dividends, interest, management fees, royalties, or other income paid to non-residents
Agribusiness worker 
(annual labour cost  = unskilled production operative)
Electricity cost
The cost for electricity for industrial use per kWh
Water cost 
The cost for water for industrial use per cubic meter.
Gas cost 
The cost for gas for industrial use per cubic meter.
Telecom cost
The cost charged by a leading telecom operator for a 3 minute call to USA
Industrial space (Property) *
capital city – give name - The total cost of industrial space based on rental fees plus any taxes and/or service charge (per sq ft p.a.)
Office space (Property) * 
capital city – give name -The total cost of office space based on rental fees plus any taxes and/or service charge (per sq ft p.a.)
Social security contributions (employer) %
Statutory social security which companies must pay on top of salaries
Select fact file categories to add to export

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Indicators for Labour Costs

Data Point Value Units Year
Labour costs (minimum wage USD per month)1 505 US dollar per month 2015
Social security contributions (employer) %2 11.3 Percentage 2015
Customer Service Representative, annual labour cost3 12490 US dollar 2014
Software Programmer, annual labour cost3 38171 US dollar 2014

1 - World Bank Doing Business
2 - EY Worldwide Personal Tax Guide 2014/15
3 - fDi Intelligence from the Financial Times

Indicators for Utility Costs

Data Point Value Units Year
Electricity cost1 367.7 US dollar per Megawatt per hours 2015
Water cost - The cost for water for industrial use per cubic meter2 3.4 US$/m3 2014
Telecom cost - The cost charged by a leading telecom operator for a 1 minute call to USA3 0.11 USD per minute 2014

1 - Climatescope
2 - Corporacion del acueducto y Acantarillado de Santo Domingo
3 - International Telecommunication Union - ITU

Indicators for Property Costs

Data Point Value Units Year
Industrial space (Property)1 161.4 USD per year/m2 2015
Office space (Property)2 277.2 USD 2011
Grade A office building costs3 247 USD/sq.ft. 2014
Industrial space building costs4 126 USD/sq.ft. 2014

1 - Cushman and Wakefield
2 - Cushman and Wakefield
3 - RLB - Rider Levett Bucknall (Caribbean Report)
4 - RLB - Rider Levett Bucknall (Caribbean Report)

Indicators for Taxes

Data Point Value Units Year
Top personal tax rate (%)1 35 Percentage 2015

1 - The Heritage Foundation

Indicators for Exports

Data Point Value Units Year
Computer, communications and other services (% of commercial service exports)1 18.9 Percentage 2010
Insurance and financial services (% of commercial service exports)1 4.5 Percentage 2010

1 - World Development Indicators

Transport services (% of commercial service exports)1 1.7 Percentage 2010

Indicators for Size of Industry

Data Point Value Units Year
Number of companies in software & IT services1 33 Number of companies 2016
Number of companies in business services1 232 Number of companies 2016
Number of companies in communications1 10 Number of companies 2016
Number of companies in financial services1 1166 Number of companies 2016
Number of BPO FDI projects (2006-15)2 0 FDI projects 2006-2015
Number of BPO FDI jobs (2006-15)2 0 Jobs 2006-2015

1 - fDi Intelligence from the Financial Times
2 - fDi Markets

Indicators for ICT Infrastructure

Data Point Value Units Year
International internet bandwidth1 113985 Bits per Internet user 2014
Internet bandwidth2 52 kb/s per user 2015
Internet download speed (kb/s)3 8597.4 Kilobits per second 2014
Internet upload speed (kb/s)3 2131.4 Kilobits per second 2014
Mobile cellular subscriptions (per 100 people)4 106.8 Subscriptions per 100 people 2014
Percentage of the population covered by mobile-cellular network2 100 Percentage 2015
Percentage of households with personal computer2 69.1 Percentage 2015
Secure internet servers4 405.8 Servers per 1 million people 2014

1 - World Development Indicators: The Little Data Book on Information and Communication Technology
2 - Global Information Technology Report, World Economic Forum
3 - fDi Intelligence from the Financial Times based on Ookla Net Index
4 - World Development Indicators

Percentage of individuals using the internet4 76.7 Subscriptions per 100 people 2014

Invest Barbados

 

Trident Insurance Financial Centre
Hastings, Christ Church,
BARBADOS, BB15156

Tel. (From Canada):

1-647-977-5996

Tel. (From the USA):

1-347-433-8942

Tel. (From the UK):

+44 (0) 203-318-9036

 

Tel. (Local): (246) 626-2000

Fax: (246) 626-2099

E-mail: info@investbarbados.org