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Nicaragua looking for Spanish investment in the Outsourcing sector
Nicaragua’s investment and export promotion agency, PRONicaragua, will be visiting Barcelona and Madrid from November 24th through the 28th to meet with Spanish companies of the outsourcing sector.
The outsourcing industry in Barcelona has grown significantly in recent years, particularly in the information technology outsourcing (ITO) sub-sector. As such, Spanish companies from the sector that are interested in expanding operations and servicing markets in the Americas may find plenty of opportunities in Nicaragua, with advantages as generous fiscal incentives, a qualified labor force, a competitive cost structure, a modern telecommunications network and top-tier technological facilities.
A similar initiative was organized last year in Madrid to promote the country’s business opportunities through the forum “Investment and Trade Opportunities in Nicaragua”, organized by PRONicaragua with the support of Nicaragua’s embassy in Spain and the Spanish Confederation of Business Organizations (CEOE, for its acronym in Spanish). As a result of this mission, the Spanish company PeopleWalking started evaluating Nicaragua as a potential site to expand operations and is now currently operating in the country. PeopleWalking will be sharing their investment experience during this year’s business forums.
Nicaragua features in the 2014 Tholons Top 100 Outsourcing Destinations ranking, where the capital city Managua climbed eight spots to occupy the 87th position to become one of the three destinations in the world that most improved in the ranking. This upgrading in the ranking highlights the country’s improving strengths as an outsourcing destination.
Currently, approximately 30 companies operate in the outsourcing industry of Nicaragua, which have generated more than 5 thousand jobs, including major players such as Sitel, Convergys, Transactel, Concentrix, Rain, and PeopleWalking.