Process outsourcing has become one of the major booming industries in the world economy. Knowledge process outsourcing (KPO) and business process outsourcing (BPO) are to name a few which are growing at a rapid pace in the various corners of the world. The world has experienced a wonderful rise in the outsourcing business since the last decade. India and China were the leading countries in this business, while outsourcing in the Philippines is gaining more popularity over the last few years. Philippines with a population of almost 90 million are suddenly experiencing a spurt in this business outsourcing process in the recent years.
Not only the voice calling, appointment setting services and data entry jobs, the Philippines has seen a wonderful growth in the field of web design, engineering, animation industry, software development, legal services, medical industry and many more. It is now taking a lead over India and China at a much larger pace. Many esteemed and prestigious organizations are selecting their destination of outsourcing in the Philippines. The fortune 500 companies like Convergys are concentrating on the Philippines for the expansion of the process outsourcing by increasing the work force and the technological and infrastructural advancements to a large extent. Due to this the Philippines is now experiencing a wonderful progress in its economy and the growth is quite rapid yet stable.
Why the Philippines is experiencing a boom in the outsourcing business?
The highest proficiency of the English language, the growing knowledge about the western business scenario, the abundance of the resources, wonderful lifestyle and business friendly economy are the major reasons for growing outsourcing in the Philippines. The accent of the people of the Philippines and their familiarity with the American English has given them the opportunity to go ahead in this business. The major drawback of India and China is their accent and unfamiliarity with the American English and idioms. Thus, this has provided a wonderful edge to the Philippines. The salary structure and the wages in the Philippines are also slightly higher. Also the literacy rate of the Filipino is quite high. All these factors coupled with their hardworking and dedicated working attitude has led to the development of the outsourcing in the Philippines so phenomenal.
Impact of the rising outsourcing business over the Filipinos:
Records and statistics say that the outsourcing business has resulted in a remarkable growth in the GDP of the nation which in turn has helped to improve the economy of the Philippines. Also, a lot of job opportunities have mushroomed coupled with a wonderful advancement in the science and technology. The nation has experienced a wonderful rise in the infrastructural development thereby improving the standard of living of the people there. The large group of highly motivated and educated work force who is influencing the outsourcing in the Philippines to grow at an exponential rate are also on a rise thereby improvising the working environment and living standard of the nation thereby steering the country to progress.
Over the years, the Philippines has become one of the leading global hub of the outsourcing business in the world. And the high quality resource the country has is providing a wonderful opportunity for profit maximization and economic progress.
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