The Philippines for the past few years grew and bloomed as a rising tiger in Business Process Outsourcing industries mainly because of acquiescent demand from customer contact solutions to back office services. According to Mc Kinsey and Co., an international consultancy firm, the projection on outsourcing demand will have it peak on 2010 reaching $170 billion in revenue. This projection makes the country an emerging giant in global BPO industry.
Basically Philippines is growing as a global hub for corporate back room operations. Evident to this is the existence large multinational companies in the metropolis and even southern part of the country.
During the closing of the previous fiscal year the country earned over $2 billion from offshore outsourcing service provision which put the country third rank after India and China. The revenue growth can be attributed to lower hourly wages of outsource professionals and innate customer service skills and cultural adaptability of Filipinos. Moreover, the Philippine government is exerting its effort in promoting the country as haven of BPO’s and a right choice for investment in this kind of industry.
This is a clear indication that the Philippines is held on a pedestal in the South East Asian Business Process Outsource industry. Outsourcing sector will be integrated in country’s economy since many young Filipinos view outsourcing opportunities as career of option. To date country’s BPO industry is forecasted at US$10 billion and giving employment opportunities to million of people by 2010. This forecast made the Philippines the giant that is yet to come.
http://it-outsourcing.outsourcingto.us/2008/03/11/the-rising-tiger-in-outsourcing-the-philippine-business-process-success-story/
www.logicallinc.com
Valuable piece of information. Philippines is under our radar right now. We are looking for a managing director (partner potentially) to setup and operate the support/VA facilities in Philippines (Cebu probably?). Reply to this email if interested
hi there… i also read an article that stated about the outsourcing standing here in the Philippines. and you’re right, it only peak on 2010. hope so, it will last longer. because as we can see, this kind of businesses really helps a lot of Filipinos to have their job. and it feels very satisfying also to be engage with this job as far as the money is concerned. it really blooms now a days and there are still new companies that hiring more workers such as link builders. isn’t it great to hear? new jobs opportunity again.. well, hope so that God will help each one of us. have a nice day!!