The Philippines used to be one of the richest countries in Asia next to Japan. As time goes by the economy started flailing and eventually landing the country as one of the poorest countries in Asia today. Today’s economy proved to be strong enough to weather the economic crisis of its allied countries. The Philippines today is known for its excellent service in outsourcing. Not only because it costs less than of other countries but also because of the effective employees. This country has emerged as one of the sought after countries when it comes to outsourcing. Outsourcing to the Philippines became rapid when the BPO industry started booming especially the demand for call centers, web developers, software developers, search engine optimizers, internet marketers, programmers, animators and graphic artists. This led to teenagers taking up college degrees in line with these jobs.
Now the Philippines rank as the third Top Outsourcing following India and China. India ranks first with an estimated global revenue of $61.5 billion or 42.5 percent of offshoring revenue. China ranks second with $45.7 billion or a 31.5 percent revenue, while the Philippines got $10.7 bilion or 7.4 percent share in the global outsourcing market. Outsourcing to the Philippines can be very beneficial to your business as it costs less than of other countries who are offering outsourcing services. Countries like India, Russia and Canada charges up to $14 per hour while the Philippines only charges up to $8 average per hour.
The Philippines has now turned to be as a major center for offshore services. The interest on outsourcing to the Philippines certainly went up in the last five years, with different services coming in not limiting to call centers like IT services, customer relations, human resources, accounting and specific functions such as insurance claim, magazine subscription, mortgage processing and many more. In 2010 the Philippine’s IT and business process outsourcing grew 26% to approximately $8.9 billion. The number of professionals employed by the industry grew up to 24%. The growth of the industry is said to go up 5.3% annually reaching $191 in 2015, If these continues to go on the Philippine’s economy will surely go up.
The Philippines is closely behind India in outsourcing. One of the main reason why countries choose India is because they have a higher profile in the technology industry, but the Philippines is catching up to India with its overwhelming count of manpower, educated employees who speaks English fluently and higher-end IT professionals. Not only does Filipinos know how to speak English, they know American culture as well due to the fact that they have been under US colonization during ancient times. Outsourcing to the Philippines gives you great value for your money. Outsourcing services in the Philippines continues to grow as time goes by, there are institutions that trains people into being an effecting outsourced agent. Convergys now has 25,000 employees in the Philippines and they are set to add more. Another big outsourcing company, Accenture, has more than 20,000 employees in the Philippines. The outsourcing industry is doing very well in the Philippines, because it pays well it keeps Filipino professionals from migrating
