The Philippines achieved another milestone after the country overtook India to become the contact center capital of the world in “voice-related services.” Today, the business process outsourcing in the PH sector employs 638,000 people and enjoys revenues of $11 billion, about 5% of the country’s GDP. By 2016, the BPO industry could add another 700,000 or so jobs and generate the incredible sum of $25 billion.
The main reason for the success of business process outsourcing in the PH is that workers speak English with a neutral accent and are familiar with American idioms—exactly what worldwide customers want. Although there are several other advantages over other countries, the talent pool, infrastructure, business environment, and labor costs—though slightly higher than in India—remain key comparative advantages for the country.
In 2010, IBM’s Global Locations Tend Annual Report , the Philippines was ranked number one for the first time for business support actions as shared services and BPO and was also named the “Offshoring Destination of the Year” by the United Kingdom’s National Outsourcing Association.
With amazing fiscal and non-fiscal government incentives, business process outsourcing in the PH has become a strategic move for global companies looking to optimize costs and expand operations. Many firms choose the Philippines for its skilled workforce, competitive business environment, and strong government support. Triple i Consulting assists businesses in setting up contact centers, software development hubs, and back-office processing facilities, ensuring a smooth and compliant establishment in the country.
The reasons to do business in the Philippines are infinite and that is the reason why Triple i has already helped more than 100 hundred companies to establish their BPO operations in the Philippines and is reckoned as the only ISO Management Consultancy specialized in these industry. If you want to establish your presence in the Philippines and learn why the Philippines is the “Rising star” in Southeast Asia, please contact us.
