The Philippines’ booming outsourcing industry now employs a million people, after growing almost tenfold in just over a decade – with expected earnings of $18 billion in 2015.
The Business Process Outsourcing (BPO) sector is driving the country’s economy. The industry accounted for 5.6% of Philippine’s GDP, which is expected to grow to 7.8% by 2016 and ongoing workforce development can help support this rapid growth.
Companies around the world are looking to the Philippines for BPO functions, for its low cost and English-speaking workforce, along with a supportive government. Payroll tax, benefits administration, time & labor management, IT support and administration, is all provided at a fraction of the price in the majority of western markets. And there’s no sign of slowing down.
The country is expanding into other outsourcing sectors including software development and IT outsourcing, animation and game development as well as healthcare information management (HIM) outsourcing. Read More