An Overview of the Outsourcing Statistics for the Year 2022

The global outsourcing market was worth $92.5 billion in 2019. According to Grand View Research, the business process outsourcing market is expected to reach $525.2 billion by 2030, registering a CAGR of 9.1% from 2022 to 2030. The benefits of outsourcing, such as cost reduction and flexibility, have contributed to the growing demand for outsourcing services across different industries and sectors. In fact, the outsourcing industry is regarded as one of the biggest benefactors to the global economy.

It is reported that 59% of companies outsource mainly to cut costs. More and more businesses turn to outsource as it not only reduces costs but also increases efficiency, enables focus on core competencies, provides access to expert skills, promotes flexibility, and improves customer satisfaction to name a few.

The Global Services Location Index (GSLI) is a tool for measuring a country’s attractiveness for outsourcing business services. It helps companies make key location decisions about where to offshore operations. It factors in financial attractiveness, talent skills and availability, business environment, and digital resonance. The Philippines has been included in the top 10 countries with the highest GSLI scores in 2021 alongside India, China, Malaysia, Indonesia, Vietnam, and Thailand.?

The Philippines has 9% GDP that comes from business process outsourcing alone, making up almost a tenth of the country’s economy and worth $27 million. A highly capable workforce, low labor costs, and compatibility with western culture are just some of the factors that contributed to the country’s attractiveness to international companies. They leverage the fact that outsourcing in the Philippines saves them 70% to 90% of wage payouts while still receiving top-notch skills and services.?

Offshore Business Processing is one of the leading business processing outsourcing providers in the Philippines that caters to businesses from different industries worldwide - ranging from freight forwarding, finance and accounting, IT, and so much more. OBP provides excellent, reliable offshore business solutions presented by a team of experts specializing in industry standards.?

We help our clients scale up their businesses at a fraction of the cost. Talk to us now to know more about what we can do for your business as we enter the year ahead.?

We are?Offshore Business Processing (OBP), an independent firm with Australian roots and a global reach. We deliver business process?outsourcing services?and?solutions?to clients worldwide, ranging from industries such as?freight forwarding,?finance & accounting,?real estate,?IT?and?so much more.

If you're interested to discuss the services we offer to help you achieve your business goals,?talk to us.