The Philippines is known the all over the world for its stunning natural wonders. Foreigners travel thousands of miles just to experience the breathtaking beauty of the country. But as much as the places are worth visiting at least once in your lifetime, the real wealth of this gorgeous country lies not in its scenic tourist spots, but in its people.
Of the many countries around the world to outsource to, it’s not surprising that the Philippines is one of the top countries on the list. With its growing economy and wealth of highly skilled personnel, it’s one of the best destinations to find the right talent for whatever job that needs to be filled.
A favorable economic setting combined with a massive pool of talent has made it ideal to outsource to the Philippines. In fact, the top two earners of foreign currencies that helped boost the economy are overseas Filipino remittances and business process outsourcing revenues. Essentially, both still come from the country’s strong manpower.
Improvements in the Economy
The Philippines is on a steady economic climb over the years, with rapid development experienced for two years in a row. It reached the 9th spot of the United Nations Conference on Trade and Development Survey in 2016 and climbed up to reach 7th place in 2017. The World Bank even dubbed the Philippines as the fastest growing economy in the ASEAN region.
The World Bank’s gross domestic product growth forecast went even below actual, as the country scored a stronger-than-expected 6.9 percent growth in the third quarter of 2017. This growth is expected to be sustained over the next three years even if public investments are slowing down.
Talent Pool
The Philippines is said to be in the demographic sweet spot, as Filipinos are some of the youngest in the world with the median age of 23.1. This is equivalent to someone who just recently graduated from college, which translates to having young, competent, and reliable human resources.
The country has a rich talent pool, with the educational system producing approximately 640,000 college graduates each year across a wide range of key disciplines. This has built a highly trainable workforce with a fast learning curve.
They are highly educated and proficient in English, taking down the language barrier in one fell swoop. They are also made up of customer-oriented individuals who can easily adapt to different cultures. And with their high level of commitment and loyalty, you can’t go wrong with this remarkable people.
Infrastructure
The current government’s commitment to its Build, Build, Build program has given the country’s infrastructure projects a nice boost over the years. Newly built roads and bridges are now making travel time faster, with the construction of train rails and more modern airports fast-tracking the transportation system. The development of more special economic zones is also underway to speed up progress in the manufacturing industry.
A robust infrastructure is a great foundation for a wealthy economy. And with the government getting things done in this sector, outsourcing to the Philippines has never been more attractive.
If you’re looking to find the right talent needed for your firm, here are some of the ideal services to outsource to the Philippines:
Customer support
Customer support outsourcing is one of the biggest markets in the country. With the high literacy rate of the Filipino workforce and low cost to run operations in the country, it has become a goldmine for customer support outsourcing and shared services.
It is also notable that the high level of English proficiency and Filipino’s warm customer-centric attitude have placed the country on the map when it comes to delivering top-notch customer support.
IT
IT outsourcing is also quite popular in the country for similar reasons. The Filipino’s above-average customer service and impeccable English skills are brought to the fore.
Combined with their technical proficiency and high quality of work, you can’t go wrong with outsourcing IT in the Philippines.
Gaming/animation
Since the 80s, the Philippines has been a major player in the animation industry. The country has become a preferred destination for both US and European countries looking to outsource animation services.
Filipinos have both the talent and capabilities, having built a reputation of being artistic people. They have been world-renowned in various creative fields such as animation, fashion, music, web, and visual design.
Software development
Filipino software developers are already a trusted ‘brand’ to outsource software development and coding to. The Philippines will continue to dominate this sector in the coming years.
Besides their exemplary skills, what makes them stand out is how easy it is to work with them under any condition.
Coding/scripting
The same goes for the coders and scripters in the IT industry. Since Filipinos have already gained a reputation for being easy and pleasant to work with, writing code to create software has ever been more ideally outsourced to them.
Communication is key in outsourcing, particularly in coding and scripting, and the Philippines is where it’s at.
Accounting/financial
The well of professional expertise in the Philippines is deep and impressive with 7,000 accounting graduates produced each year. Not only do Filipinos have a high level of proficiency in the field of finance, but also have access to advanced technology to perform their jobs more efficiently and effectively, hence why global multinationals outsource accounting and finance to the Philippines.
Data entry/processing
Outsourcing data entry in the Philippines is going to be good for your business. This arduous and highly repetitive task is fit for Filipinos who can be trained easily to do the job on time, without errors, and within budget.
Conclusion
The outsourcing industry in the Philippines is flourishing, and there seems to be no end in sight. With the remarkable talent of the Filipino workforce in the spotlight, it’s not hard to understand why companies choose to outsource to the Philippines. Once you get the ball rolling, you will be hitting those business goals in no time.
With inexpensive yet highly capable labor and support from the government, the Philippines is the perfect country to build your dream startup. If you need help to make the first step and get your foot in the door, it’s best to seek advice from EnterPH, the experts in starting businesses for foreigners in the country.
References:
https://digitalmarketingphilippines.com/the-outsourcing-industry-in-the-philippines-2018-edition/
http://www.staffvirtual.com/blog/why-outsource-it-to-the-philippines
https://www.magellan-solutions.com/blog/why-it-is-a-smart-move-to-outsource-it-support-in-the-philippines/
http://globalsky.com/global-gaming-industry-is-eyeing-filipino-animators/
https://animationoutsourced.com/outsourcing-animation-to-the-philippines/
https://outsourceaccelerator.com/guide/comprehensive-guide-outsourcing-finance-and-accounting/
https://www.openaccessbpo.com/blog/how-the-philippine-finance-and-accounting-outsourcing-grows#
http://www.staffvirtual.com/data-entry-outsourcing-companies-in-the-philippines/
Rocky Chan is a lawyer and business consultant who excels in corporate formation, immigration procedures, and client relations. In the last 7 years, he honed his craft in the field of foreign investment consultancy.
