Philippines is a top destination for business process outsourcing. Through the years, the country is competing head-to-head with India as the country of choice for outsourcing services. Although it will be very difficult to beat India in terms of worker population, Philippines has gotten a big share of the pie because of exceptional work output.
Clients all around the world have seen the great advantages and have chosen to entrust their BPO needs to the Philippines due to the following key factors:
- Philippines has a fast-growing economy with a GDP of 7.8%, which is one of the fastest-growing economy in Asia.
- The government provides incentive programs that encourage foreign companies to invest in the Philippines.
- Filipinos have a very high value on education, with literacy rate of 96.3%, hence, most of the BPO workers in the Philippines are college-educated.
- English is the official language of government, education and business. Filipinos are taught to speak, read and write in English since Pre-school, which made the country the third largest English-speaking country in the world.
- Filipinos have neutral English accent which is advantageous for businesses all across the globe.
- Philippines has an influx of young population, who are highly-educated and trained professionals.
- Philippines, having been exposed to Asian, Spanish and American influences has produced culturally-diverse and highly adaptable citizens who can easily acclimate themselves to various company culture.
- Filipinos are inherently hardworking, with undisputable work ethics. They are known to be resilient which despite of hardships they remain to be happy people and easy to work with.