So you have decided the time is right for your business to offshore, now for the big decision, where? Let me tell you why the Philippines should be your first choice.
The Philippines has fast become the Asian hub for the (BPO) Business Process Outsourcing industry. The BPO industry has enjoyed a growth rate of 46% over the past five years in the Philippines and doesn’t look like slowing down any time soon. One of the main reasons it comes down to is the talented, hard working and passionate nature of the Filipino people.
Here are my top 7 reasons you should choose the Philippines for your Offshore Office:
- English ProficientFilipinos are renowned for their innate ability to speak English, the Philippines is actually the third largest English-speaking country in the world and holds a 94% English literacy rate. American English is taught in all schools and they have a natural English accent that’s easily understood.
- Similarities in Western CultureThe country has had an American influence since the late 1800’s, which means Filipino’s not only have a strong grasp of the English language, but also of western culture and standards.
- Readily Available WorkforceThe educational system in the Philippines produces more than 400,000 new graduates a year. With access to an extensive range of degrees, graduates are talented, technically proficient and hold a sense of professionalism. Also, with the long presence of BPO’s in the Philippines, there is already a large number of the workforce that has experience working for foreign companies, making the hiring process much easier.
- Cost EffectiveLabour costs are easily one of the largest expenses to your business. Offshoring allows you to take advantage of the lower cost of living in the Philippines, while maintaining quality service. The average wages are considerably lower than western countries, but the workforce remains highly motivated and enjoys a more than competitive package within the industry.
- Telecommunications & InfrastructureOften maligned in previous times, this is one area that has improved dramatically over the past few years. There’s been significant development in power, water, roads and telecommunications, becoming highly sufficient within the business districts of Manila. Internet connectivity and speed is as good as it’s ever been, in particular with the installation of fiber optic cables built underground in the Bonifacio Global City.
- BPO industry support from governmentThe BPO industry’s growth rate of 46% over the past five years makes it the second largest GDP contribution in the country. The Government has set up special economic zones managed by the (PEZA) Philippine Economic Zone Authority, whereby accredited organizations receive tax incentives, holidays and other forms of government assistance to encourage foreign investment.
- Economic GrowthThe country has strong ties with the US and has seen its economy grow from strength to strength, which has had an average 5% growth since 2002. With a western style government and cultural influences, this emerging market makes for an ideal place to invest.
You should be looking no further than the Philippines to offshore. It’s not only close to home and cost effective, but the friendly, educated and passionate Filipino people will be sure to put a smile on your face each day.
To learn more about offshoring to the Philippines and the opportunities available for your business, please contact us at sales@technoglobalteam.com.
