Hire in Honduras
Many working-age people in Honduras are engaged in agriculture, including farming, fishing, and forestry. The export of food items is one of the significant contributors to Honduras's economy. As the manufacturing industries are not so well developed, service industries are the primary source of structured employment.
The lack of skilled workers also allows expats to move to Honduras to get well-paid job opportunities. The government is working towards bridging the skill gap, anything from administration to IT or hospitality.
Overview of Honduras
Population: 10,062,277 (July 2021)
GDP: 24.90 USD Billion (FY 21)
Due to the pandemic crisis, in 2020, Honduras' GDP shows a negative growth of about -8%. However, according to the April 2021 forecast of the International Monetary Fund, the GDP growth of the nation is expected to pick up to 4.5% in 2021, considering the post-pandemic global economic recovery. A favorable trade scenario with the United States and remittances from expatriate workers will definitely promote economic growth.
The market in Honduras is not elaborate enough to offer well-paying jobs to the working-age population. Most available jobs in Honduras are for the skilled workforce within the service and manufacturing sectors. The significant industries in Honduras offering job opportunities are agribusiness, finance, international institutions and businesses, construction, social services, food processing, etc. The unemployment rate was 5.7% in 2020, which is expected to reduce by 4.5% in 2021, supported by market recovery.
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A brief glimpse of industries
- Honduras's strengths include high-quality port infrastructure and a relatively open business environment friendly to trade.
- The government has implemented multiple policies to develop the manufacturing as well as service sector to improve the job market of the nation. Skill training institutes and programs of government and private initiatives are playing a vital role in bridging the skill gaps.
- The major manufacturing industries offering job opportunities are food and beverages production, textiles, clothing, chemicals, lumber, and paper product industries.
- The main industries where the Honduran government has started to invest more are tourism, fishing and food processing, IT industry, banking, and textile.
- In Honduras, the fishing industry is one of the vital industries in the country since it employs a large section of the workforce. The well-established component of the fishing industry in the nation is lobster and shrimp fishing.
- Top IT Companies in Honduras employ skilled professionals to offer services like branding, UX design, web design, web development, social media marketing, and mobile apps development.
- The average Internet speed in Honduras is 18.1 Mbps. The average download speed in Honduras is 23.81 Mbps, and the upload speed is 10.59 Mbps.
Cost of living in Honduras
The cost of living in Honduras is affordable compared to other countries like Costa Rica and the United States. One can have a comfortable life here with just a budget of USD 1,500 per month— thanks to the affordable prices in the local market. The nation is indeed a place with undisputable beauty where people can live a comfortable life without the worry of compromising their finances. The following table shows a snapshot of the average living cost in Honduras.
Average Living Cost in Honduras
Cost of renting
House rent is quite affordable in Honduras—renting a house or apartment is the second-largest expenditure for a person, and it usually takes about 18% of an individual or household's income. The renting cost depends on the location of the property, type, and size of it. In major cities like Tegucigalpa, the capital, you may be able to live in an apartment with modern conveniences. However, it is always low to look for rentals outside the city center, especially if there is a particular housing budget.
Your cost of living in Honduras depends on your location
Top Skills in Honduras
Most of the structured employment opportunities are available in service sectors. There are plenty of employment options for freshers as well as experienced professionals. Along with technical skills, IT skills, English proficiency, and communication skills are high in demand in Honduras.
The major industries hiring in Honduras are:
- Staffing and outsourcing
- IT Services
- Consumer product manufacturing
- Food Processing
- Telecommunication services
- Backend customer Assistance
Top Skills City-wise Occupation-wise
Capital Tegucigalpa is home to the headquarters of many companies that offer jobs in multiple industries, including Consumer services, Airlines, Conventional electricity, Telecommunication, Consumer goods, Food products, IT services, and so on.
San Pedro Sula is a significant city in Honduras offering multiple job opportunities to the nation's working-age population. Many opportunities for professionals like accountants, lawyers, doctors, bank managers, chief executive officers, orthodontists, pilots, telecallers, etc., are available in the city.
La Ceiba and Puerto Cortés are both port towns, and industries are mainly agriculture and commerce based. Fishing, food processing, transport, packaging, labeling, and storage units exist in abundance.
La Lima and El Progreso, on the other hand, are tourism-specific cities. These cities offer most jobs in the food business, hotel and tourism companies, and travel agencies.
To predict the appropriate cost-per-hire, you need thorough research about the cost of living, availability of skilled freshers or professionals, etc. Cost-per-hire is the most significant part of an employment program, and it depends on multiple factors. To calculate the overall recruitment expenditure, you need to consider:
- Advertisement cost
- the cost of the screening process
- the cost of interview processes
- on-boarding costs
- training cost
- recruitment software cost
The top sectors that are expected to hire in Honduras in 2021
Salary structure for various roles in Honduras
The following table represents the average monthly salary of different sectors in Honduras.
Employment Laws in Honduras
How Can Skuad Help You in Hiring in Honduras?
Hiring in a foreign country is always complicated—a huge amount of paperwork, legal precautions, and formalities along with in-depth knowledge of hiring costs, taxes—everything makes the hiring process much more complex. Skuad can be your one-stop solution for all aspects of the hiring process. If you are planning to hire in Honduras, you can definitely consider Skuad to make your hiring stress free and allow you to concentrate on your core business. Contact Skuad for more details.