The Philippines offshore outsourcing statistics

The Philippines is another leading outsourcing destination. The country, though considered a late bloomer, has held the title “The BPO Capital of the World” since 2010.

Being a former colony of Spain and the US gained them the advantage of cultural compatibility with more developed countries.

The country specializes in outsourcing customer service roles (voice and non-voice-related) and back-office services. Traditionally, multinational companies from various countries outsource call centers in the Philippines.

Besides cost reduction businesses that outsource call centers in the country are able to fully leverage service quality. In turn, these companies are able to boost their core business.

Highlights?

• 2021 population: 111.4 million
• Literacy rate: 98.18
• English proficiency: #27 in the world and #2 in Asia
• Employment rate (2021): 93.13
• Real GDP (in USD) : 361.49 billion
• Government support in outsourcing: full support to develop the IT industry
• Industry body: IT & Business Process Association of the Philippines (IBPAP)

Fast facts

• Gross Domestic Product (GDP). “The Philippine Gross Domestic Product recorded a growth of 11.8% on the second quarter of 2021, the highest since its 12% recorded growth in 1988.” – Philippine Statistics Authority (PSA)
• “In 2015, the BPO sector generated over $22 billion in revenue, accounting for 7.3% of the Philippine economy.” – World Trade Organization
• “The income in the BPO industry was seen to ‘fill up remittance dip’ amid the onset of the pandemic in 2020.” – BusinessMirror
• Contribution of BPO to employment. “In the same year, the industry generated 1.2 million full-time employees.” – World Trade Organization
• Government support. As an encouragement to develop the IT sector in the Philippines, PEZA supports foreign investors to set up BPO companies in the country by giving them incentives such as tax holidays, tax-free importation of equipment, and visa assistance.

Source: https://www.outsourceaccelerator.com/articles/outsourcing-statistics/