Many people have heard of the tag line "It's more fun in the Philippines". This famous one liner is the country's tag line in its tourism campaign. It's definitely more fun in the Philippines when it comes to nature tripping. But, Philippines is more than just a tourist destination. Filipinos have proven to be valuable assets to offshore companies and organizations based outside the country. Needless to say, Filipinos are now becoming the employees of choice for business entities that thrive on outsourcing.
According to the Information Technology Business Processing Association of the Philippines (IBPAP), they are expecting a boost in revenue this year. IBPAP President Jose Mari Mercado said in a press conference that they are expecting the outsourcing sector to reach the $16 billion mark. That's 21% higher compared to the $13.2 billion last year.
He said this is beyond their target revenue for 2013, which is $15.7 billion or 19 percent growth.
Mercado also said that the workforce of the information technology business process management (IT-BPM) will boost to 960,000 by the end of 2013.
This projection, according to Mercado, is based on the growing confidence of many offshore companies to the Filipino talents. The country is still the preferred destination of many companies from the US, UK & Australia when it comes to IT and customer relations services. That is because Filipinos are more accustomed to foreign culture and are better English speakers compared to other nationalities that also provide outsourcing services such as India, Ukraine, Pakistan and even Russia. Moreover, outsourcing in the Philippines is less expensive compared to the other countries.
When ask if the homegrown talent of the country can supply these demands, IBPAP chairman Danilo Sebastian Reyes answered in confidence that we can now supply the demands and meet the requirements and expectations of foreign companies.
In March 2013, Philippines produced 500,000 ITand Arts and Sciences graduates. The outsourcing talent pool of the country will even grow and improve as these new graduates look for jobs and as the government and the industry continue to develop their skills and create more outsourcing agencies.
With the industry and the government teaming up to build a larger and better talent pool, it is no doubt that the country is up to greater heights in terms of outsourcing. Definitely, outsourcing is more fun in the Philippines.
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