The business process outsourcing (BPO) sector is one of the fastest-growing industries in the Philippines. With hundreds of established agencies settled in the country, its expected annual growth rate is around 9.04%, higher than the expected global growth. Thanks to this, the rapid rise of supply and demand makes the country a preferable choice for foreign companies.
In the BPO industry, the Philippines is seen as a powerhouse. The Filipinos are among the best when it comes to work ethics, offering professional services that meet your company’s needs and standards. To top it off, the general services are considered more affordable than those of other providers, making it an even harder deal to pass up.
If you’re looking for an outsourcing vendor, it would be best for you to partner with a call center in the Philippines. To convince you further, the infographic below will discuss 10 reasons you should take up business support services from the country.
Fast Facts and Stats on the Philippine BPO Industry
The Philippines is known as one of the top outsourcing destinations globally. With its workforce’s proficiency in English, cultural compatibility with Western countries, and overall service affordability, it’s no surprise that many foreign organizations partner with vendors from the country. To give you a better picture of its thriving BPO industry, here are some interesting statistics to note.
- The IT and Business Process Management (IT-BPM) firms in the Philippines are projecting the BPO sector’s revenue in 2024 to reach nearly $38 Billion. (Inquirer)
This statistic highlights the BPO industry's contributions to the Philippine economy. With current trends pointing upward, it’s expected to keep growing in the coming years. - The Philippines is known as the Call Center Capital of the World. Over 1.57 million people are estimated to be employed full-time in over 1,000 BPO and call center companies. (Unity Communications)
These service providers cater to different companies around the globe, including First World countries such as the U.S., the U.K., Japan, New Zealand, and more. - The number of mid-skill jobs within the BPO industry in the Philippines is projected to rise by 12%. (Magellan Solutions)
Job opportunities will continue to improve as skill level requirements increase to ensure the best-quality output for businesses. - Healthcare information management and game development services have the highest headcount growth rate, starting at 6.8%. (Magellan Solutions)
Thanks to the impact of automation, providing services under these categories have become simpler and more affordable to meet the growing demands. - Major businesses save as much as 80% on operational costs when partnering with contractors in the Philippines. (Outsource Accelerator)
Despite the low labor costs, the quality of their output and service is sure to make your business grow.
10 Reasons Why You Should Outsource to the Philippines
1. Great Industry Track Record
The BPO industry in the Philippines has been active since the early 1990s, and many have grown to become top international service providers. In terms of total revenue, the sector has generated over $29.5 billion in 2023 alone. Apart from companies established in its capital city, Manila, the BPO industry has also expanded to other parts of the country.
2. English-Proficient Workforce
Filipinos are taught English at a young age. It is the primary language used to teach in schools. Apart from that, it is commonly used in their daily lives.
3. Favorable Labor Costs
Due to the relatively low cost of living in the country, the operational costs can be significantly lower than what foreign investors pay in Western countries. This makes the Philippines more appealing as an outsourcing destination for many companies worldwide.
4. Overall Availability
The outsourcing workforce in the Philippines provides 24/7 services, which can benefit businesses no matter where they are. Since many BPO companies in the country work multiple shifts, you can have staff working relative to your time zone.
5. Highly Skilled Workforce
Most of the Philippine workforce is around their early 20s with college-level education and formal training. Because of this, many workers are skilled in their fields and can deliver professional-quality services.
6. Legal Exemptions and Government Support
The government recognizes the BPO industry’s contribution to the economy, so it supports the sector by establishing fair regulations and incentives to keep the market steady.
7. Data Security
The workforce in the country can adapt to the strictest foreign data privacy acts. As a result, you can be assured that your business will have a seamless transition when opting for these services.
8. Better Quality of Life
Filipinos get a better quality of life thanks to the thousands of job vacancies that open in the BPO industry each year. In these trying times, outsourcing to the country would greatly benefit all stakeholders.
9. Cultural Match With Western Countries
Western culture is present in everyday life in the Philippines, making it a great match for foreign companies. Apart from that, hospitality is also an integral part of Filipino culture, where locals are easy to socialize with.
10. Good Economic Growth
The Philippines is known as the outsourcing capital of the world. As a result, the country has gained stronger purchasing power, which foreign investors can benefit from.
Empower Your Organization Through Filipino Service
The Philippines has one of the world’s strongest BPO cultures, where a great portion of its economic growth is known for. Apart from being more cost-effective, outsourcing your process to this country grants you a wide array of opportunities to connect with skilled professionals ready to support your business needs.
Reach out to Select VoiceCom today to learn more about the BPO services in the Philippines.
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