The business process outsourcing industry in the Philippines has captured the attention of the U.S. State Department. In a recent profile of the country by the U.S. State Department, published in November, business process outsourcing in the Philippines makes up a significant portion of the content included in the analysis.
The Power of Philippines Outsourcing
It is a noteworthy industry that has kept the Philippines alive in tough economic times. The steady declines in areas such as tourism, agriculture and exporting industries did not influence the U.S. State Department analysis of the Republic of the Philippines because business process outsourcing is making up the difference in profound ways.
As the most rapidly growing entity in the Filipino economy, business process outsourcing is an anchor that the nation cannot live without. Philippines outsourcing remains strong and unwavering, despite turbulent changes in economic situations across the globe. On a global scale, Philippines outsourcing makes up about 10% of the worldwide market. Competing with much larger countries with richer resources like India, this 10% piece of the business process outsourcing market is no small feat for the Philippines outsourcing industry. (more…)