Philippines to surpass Indian BPO by 2015

Reading Time: 2 minutes
bpo graph
Click to enlarge

The Philippines is predicted to overtake India’s business process outsourcing (BPO) industry by 2015, building steam off of its favourable demographics and an English-proficient graduate population.

It is estimated that the Philippines – already declared the call center capital of the world – graduates 470,000 English-speaking college students every year – adding to the country’s inexpensive labour pool of 39 million. That the cost of labour in the Philippines is a staggering quarter the price of the US, combined with the country’s 92.5 per cent English-proficiency rate, has drawn Fortune 500 companies such as Citibank, JP Morgan Chase, HP, Oracle, Cisco into the Filipino fray.

Also supporting the Philippines’ rise against the entrenched Indian industry is a flexible education system built upon meritocracy. Above and beyond carving a niche in healthcare and nursing, the Philippines is now expanding on technical education, grooming future animators, software developers, health IT service providers, CPAs and more.

What’s more, the 100-million nation of 7,000 islands is now experiencing record-high GDP growth of 7.1 per cent, a property boom and low inflation, all leading analysts to give the country stable to sanguine outlooks.

Maintaining outlooks

The Philippines was recently ranked 87 out of 141 countries in Forbes’ Best Countries for Business survey, maintaining the same positions it had last year.

This ranking places the Philippines ahead of China and India, both infamous for their challenging business environments, but behind many Southeast Asian nations, including Malaysia, Thailand, Indonesia and Singapore.

The ranking is determined by 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.

While the Philippines moved up in rankings for monetary freedom, investor protection and innovation, the country still suffers from red tape with starting up businesses, poor property rights and corruption.

While the Aquino administration has lowered the crime rate and entered a monumental ceasefire agreement with southern Muslim rebels, the Philippine’s still suffers from outbreaks of civil violence, which will continue to trouble the young economy.

The Philippines has a long way to go to become a versatile economy, with analysts pointing to the country’s dependence on energy imports as a salient worry. With human capital on the way, production bases need to be constructed to house the future Filipino dream.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Click to enlarge

The Philippines is predicted to overtake India’s business process outsourcing (BPO) industry by 2015, building steam off of its favourable demographics and an English-proficient graduate population.

Reading Time: 2 minutes

bpo graph
Click to enlarge

The Philippines is predicted to overtake India’s business process outsourcing (BPO) industry by 2015, building steam off of its favourable demographics and an English-proficient graduate population.

It is estimated that the Philippines – already declared the call center capital of the world – graduates 470,000 English-speaking college students every year – adding to the country’s inexpensive labour pool of 39 million. That the cost of labour in the Philippines is a staggering quarter the price of the US, combined with the country’s 92.5 per cent English-proficiency rate, has drawn Fortune 500 companies such as Citibank, JP Morgan Chase, HP, Oracle, Cisco into the Filipino fray.

Also supporting the Philippines’ rise against the entrenched Indian industry is a flexible education system built upon meritocracy. Above and beyond carving a niche in healthcare and nursing, the Philippines is now expanding on technical education, grooming future animators, software developers, health IT service providers, CPAs and more.

What’s more, the 100-million nation of 7,000 islands is now experiencing record-high GDP growth of 7.1 per cent, a property boom and low inflation, all leading analysts to give the country stable to sanguine outlooks.

Maintaining outlooks

The Philippines was recently ranked 87 out of 141 countries in Forbes’ Best Countries for Business survey, maintaining the same positions it had last year.

This ranking places the Philippines ahead of China and India, both infamous for their challenging business environments, but behind many Southeast Asian nations, including Malaysia, Thailand, Indonesia and Singapore.

The ranking is determined by 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.

While the Philippines moved up in rankings for monetary freedom, investor protection and innovation, the country still suffers from red tape with starting up businesses, poor property rights and corruption.

While the Aquino administration has lowered the crime rate and entered a monumental ceasefire agreement with southern Muslim rebels, the Philippine’s still suffers from outbreaks of civil violence, which will continue to trouble the young economy.

The Philippines has a long way to go to become a versatile economy, with analysts pointing to the country’s dependence on energy imports as a salient worry. With human capital on the way, production bases need to be constructed to house the future Filipino dream.

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid