Business Process Outsourcing in the Philippines 2020

The Philippines BPO industry has strongly increased and will continue during the next years. In the news report, President Benigno Aquino III expects the business process outsourcing sector to produce as much as $100 billion in profits in 2020. This is based on the Gross Domestic Product growth wherein the BPO sector has already contributed 3.2 percent to GDP growth in the second quarter of 2010. The government also predicts around $12 billion to $13 billion in revenues by 2011. By 2020, its profits are expected to rise to as much as $100 billion, comprising 20 percent of the market share in the global industry. The Philippine business process outsourcing sector truly has become a sunshine industry, generating more than $9 billion in revenues, and employing close to 550,000 in 2009 alone. We all know that the Philippines is the world’s second-biggest offshore call center after India but there may be a possibility that the Philippines will replace India by 2020.

It only shows how competitive our country is in the global market. There are many factors that contribute to this vast expansion such as the availability of well-trained labor at low cost which enticed companies to operate specifically in the Philippines. Another factor is the high-skilled labor wherein the Philippines offer a large labor pool of college graduates with a very good command of English. Furthermore, especially the call centres stated that the Filipino accent is neutral as compared to the Indian workforce who possesses a stronger accent. Finally, the cultural attributes constitute another asset, which Filipinos possess. Filipino workers remained to be hardworking, responsible and customer-oriented which are the most important.