Dubbed as the “sunshine industry” due to its tremendous growth, the business process outsourcing or BPO industry in the Philippines remains as one of the country’s main economic drivers.
It is valued at USD 23 billion and employs 1.15 million people. In the past few years, the Philippines has overtaken India and claimed the top spot in voice BPO, and ranked second spot for non-voice complex services.
There are many reasons why entrepreneurs and outsourcing experts alike choose the Philippines as a top outsourcing destination. Here are just a few of the factors why many investors prefer bringing their business to the country:
Why Outsource in The Philippines
1. English-speaking nation.
English is widely spoken in the country and studying the language is an integral part of the educational system. Filipinos are proficient in English and most have a neutral tone, making them well-suited for voice communication.
Even companies that don’t deal with voice accounts see mastery of the language as a highly beneficial skill, as it allows everyone to communicate easily in the workplace and with their counterparts outside the country.
2. Lower cost of living.
Compared to the countries in the west, and even to some of its neighboring countries in South Asia, the Philippines is a very affordable place to live in.
As such, the cost of labor in the country is considerably lower than in the United States or Europe. Which is quite a boon for companies that outsource part of their operations to the country.
This, however, doesn’t mean that the standard of living is lower, as many of the people employed in the BPO industry are able to support themselves and their family while living in the city.
3. Highly skilled workforce.
Public schools in the country offer free education from preschool to high school, so the Philippines has a literacy rate of 95%.
Short courses for contact center services, animation, and computer languages are widely available to individuals who want to find work in the BPO industry. Meanwhile, colleges and universities in the country also produce thousands of graduates every year.
4. Compatible culture.
Many different nations played a part in the development of the country during its long and colorful history. Today, the Philippines retains both eastern and western cultural influences, and many Filipinos are also avid consumers of US popular culture like TV series and music.
Having similar interests may seem like a trivial matter, but sharing the same sensibilities with their clients can make a lot of difference in the experience and quality of service provided by a BPO company.
5. Cross-sector experience.
Most of the employees in the BPO industry work in the voice sector, but this doesn’t mean that the country doesn’t have a pool of highly skilled talents and professionals in game development, software development, or finance and accounting.
The BPO industry in the Philippines is quite diverse, and many outsourcing companies are capable of providing high-quality services in various fields and industries.
6. Stable support from the government.
The Philippine government is very supportive of initiatives that have and continue to put the country in the global BPO industry chart.
Together with BPO organizations, the government has spearheaded programs for improving transportation, utility, and educational infrastructure. Entrepreneurs who choose to invest in the country are also provided with various tax and duty incentives.
If you are looking to expand your company’s services, then the Philippines has plenty of highly competitive BPO service companies that can partner with small to midsize businesses. Here, you’re sure to find a company that can provide your business with globally competitive services at a very reasonable price.