While the Colombian offshore contact center outsourcing market has not lived up to its billing, the Peruvian market picked up the slack and has grown impressively in the last two years. Spanish companies, which were the biggest offshore revenue contributors to both countries, have increasingly set up operations in Peru to provide offshore services to Europe and other Latin American countries. In 2010, Spanish companies accounted for 70 percent of Peru’s offshore contact center outsourcing revenues and only 41 percent of Colombia’s.

The Peruvian market is expected to grow faster than other nations within the region, with a compound annual growth rate (CAGR) of 14.9 percent from 2009 to 2015, compared to Colombia’s 12.4 percent. Similarly, offshore revenues accounted for only 18 percent and 43.7 percent of Colombia’s and Peru’s revenue pie, respectively.