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Philippines Economy

The Philippines is rapidly advancing and offers a particularly strong challenge to other more commonly known countries, like India and China, in the business process outsourcing sector. For instance, a research study on the global outsourcing market in 2016 revealed that Manila sits in second place for the biggest outsourcing city in the world. Bangalore, India, is the only city with a larger outsourcing market. Shanghai, China is the first Chinese city that shows up on the list, and that’s not until 12th place.

The Philippines saw a 30 percent growth rate over the past decade, according to the Information and Communications Technology Office. The future continues to look promising with Deloitte predicting their BPO market share may increase to 20 percent of the global market with $48 billion in revenue. The Philippines’ strong showing in the BPO market comes from the benefits it offers businesses worldwide, particularly in the United States.

Language Neutrality 
English is an official language in the Philippines, alongside Filipino. As such, workers in the Philippines have strong English proficiency and are able to provide exceptional support through any channel, whether requiring verbal or written communications. Many have also developed a neutral accent that works well for voice communication, making it nearly impossible for customers to suspect they may be talking to someone halfway across the world. With a common understanding of the same language, your businesses can operate seamlessly between your U.S. team and Philippines-based support.

Strong Education System 
You need highly skilled employees to handle specialized BPO tasks and you wouldn’t’ want the quality of your workforce to differ between your in-house and outsourced teams. With a 95% literacy rate, the Philippines is a great place to meet this demand. The ASEAN Briefing reported that 450,000 Filipinos graduate from higher education institutes every year. Special tuition rates for lower-income students help boost attendance and open up educational opportunities for all socioeconomic demographics.

Classes in the Philippines are typically taught in English. Some schools even offer BPO skills training to help prepare students for this particular industry. Continuing education, remedial skills training and distance learning programs target older workers seeking career changes.