Why is the Philippines Becoming the Preferred Outsourcing Destination?
3 Minute read
The Philippines is not only a world-class tourist destination, but it is also fast becoming a global economic power. With its rapidly growing economy, exceptional infrastructure and a highly capable workforce, the Philippines is the clear choice for business process outsourcing (BPO).
The Filipino economy is currently experiencing a golden period of growth. After a strong start to 2018, the GDP is forecasted to grow by a further 6.5 – 7% in 2018. As a result of this unprecedented growth, the Philippines is ranked as one of the fastest growing economies in the world.
According to the Metrobank Group, this growth is being driven by the increase in public and private sector investment, increased exports, increased manufacturing and the current tourism boom.
There are expected boosts of US$160 billion from government infrastructure plans aimed at creating jobs. With the government being committed to growing the economy and increased international investment in the Philippines, particularly in the outsourcing industry, this growth is forecasted to continue for the foreseeable future.
Skilled and educated workforce
With a tertiary education system that produces over 450,000 English fluent graduates each year, the Philippines is bursting with highly skilled, young and eager talent.
As well as boasting an education system comparable to Western countries, many universities offer undergraduate and graduate programs centred on BPO operations. This is just one of the many reasons why the Philippines is fast-tracking its way to becoming the preferred outsourcing destination in the world.
The combination of a highly skilled talent pool and low costs has made the Filipino workforce invaluable to a growing list of multinational companies.
When you outsource with Deployed, you gain access to a comparable workforce for around 40% less than hiring locally.
On top of the lower staffing costs, we host your team in modern offices equipped with the latest IT infrastructure and drastically reduced overheads.
As a result of the Philippines’ recent economic success, the country is currently experiencing an infrastructure boom with the aim of further improving international trade and domestic consumption.
As part of the program, which is scheduled to start this year, the government plans to invest significantly in public transport, roads, bridges, airports, seaports and railways.
Along with the commitment to improve the country’s physical infrastructure, there is an increased drive to improve IT and communication services. Creating an even bigger advantage for businesses outsourcing to the Philippines.
Unlike other common outsourcing destinations, there is only a four or five hour time difference between the Philippines and your local office, depending on daylight savings.
This not only makes it easier to communicate with your remote team, as office hours will overlap, but it also extends your offices hours. Allowing for higher work capacity and increased access to your clients.
A number of Australian and New Zealand businesses have already benefited from outsourcing to the Philippines. With the BPO industry being the major driver behind the countries growth, we anticipate further success.
Outsourcing core and non-core operations to the Philippines with Deployed provides your business with bespoke and comprehensive strategies to tap into this market. We are driven to help local businesses grow and prosper with the help of cost-effective and long-term offshore staffing solutions. To discover how we can help your business, contact us today.