Of the many outsourcing destinations around the world, one country truly stands out: the Philippines. For many years, the Philippines has been the home for many multi-national BPO companies, catering to all kinds and size of businesses globally. But why?
To answer that, here are the main points from the infographic below from Global Outsourcing, which detail the six strongest selling points of the Philippines when it comes to offshore outsourcing.
- Cheap Labour and Overhead Cost
This country’s main selling point is its cost advantage, which not only also applies to salaries but to other business expenses as well such as office rental, utilities, supplies, and third-party services.
- Excellent Communication Skills
The English language is a fundamental part of their basic education curriculum, which means many of them have been speaking the English language since they were children.
- Quality Talent Pool
According to the Philippine Statistics Authority, the Philippines has an amazing 97.5% literacy rate in 2013, which puts it on the same level as USA, UK, and Canada. The country also produces about 450,000 college graduates every year, which has the third largest talent pool among major BPO hubs in the world like India and China
- Culturally Compatible with Western Countries
After being a Spanish colony for more than three centuries, the Philippines was then governed by the United States for almost 50 years, transforming the country into a culturally compatible and adaptable country for western economies.
- Exceptional Work Ethic
Filipinos take pride in having one with the best work ethics in the world. Their impeccable work ethic is the reason Filipinos are very suitable for jobs like customer service and outbound marketing which requires a lot of interaction and coordination.
- Strong Government Support
The BPO industry has contributed significantly to the rigorous economic growth of the Philippines in the past years. Creating 10% of the country’s GDP, the industry has become the country’s largest source of private employment and the second-largest contributor of foreign exchange earnings after remittances.
To learn more check the infographic below.