The Philippines was a US colony from 1898 to 1946, which gives the country a heritage of being an English-speaking country. The privatization in the country has led to a wave of investments. The Philippines government has undertaken various initiatives and enhanced the investment competitiveness and taxation conditions in country. There are number of preferential regimes that have been introduced by the government such as tax and custom benefits and the creation of a special economic zone, PEZA, which gives investment opportunities to foreign investors. In addition, efforts to simplify regulations and reduce administrative barriers offer fast development opportunities for foreign companies. The country’s affinity with Western culture and developed telecommunications infrastructure makes it a favorable location for outsourcing.
Analysts forecast the Outsourcing market in the Philippines will grow at a CAGR of 13.97 percent over the period 2013-2018.
The Report recognizes the following companies as the key players in Outsourcing Market in the Philippines: Accenture plc, Convergys Corp., JP Morgan Chase & Co., Teleperformance SA, Aegis Ltd., Blast Asia Inc., BPO International Inc., Computer Professional Inc., EACOMM Corp., IBM Corp., Point West TechnologiesCorp., ScopeWorks Asia Inc., Sencor, Sitel Corp., SPI Global, Stream Global Services Inc., Sykes Asia Inc., TeleTech Holdings Inc.
With the maturity of the contact center outsourcing service, the Philippines is focusing on industry-specific outsourcing services to help in the growth of the Outsourcing industry. The demand for knowledge-based outsourcing services is growing worldwide. Industry-specific outsourcing services involve sector-specific language. Countries such as India and the Philippines have a vast talent pool graduated in mathematics and science. Companies are outsourcing their F&A, and HR activities to low-cost destinations. This trend in the Global Outsourcing market has increased the revenue margins for the Philippine Outsourcing industry as the country is orienting its outsourcing services specific to industries such as Engineering and Healthcare.
Covered in this Report
The Outsourcing market in the Philippines can be divided into three segments based on the type of service into Voice BPO, Non-voice BPO, and IT Outsourcing and ESO.
Outsourcing Market in the Philippines 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report focuses on the Outsourcing market in the Philippines landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, several factors drive the growth of the Outsourcing market in the Philippines, one of which is cost-effectiveness. High-quality service at low cost is the main criteria for outsourcing services. The low cost of labor in the country is driving the Outsourcing market in the Philippines.
Further, the report states that the acquisition and retention of the talent pool is one such challenge. Globalization and the availability of high pay scales in other countries predispose the workforce of countries such as the Philippines to work abroad.
