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Country Highlights

Philippine: Business opportunities in Outsourcing Industry

The outsourcing industry has become a major driver of the Philippine economy in recent decades. The country’s young, English-proficient workforce has made it highly attractive for global companies looking to outsource customer support, back-office functions and IT services. Industry revenues have grown over 20% annually to reach over $25 billion in 2019. Business process outsourcing (BPO) and IT services are forecast to continue expanding rapidly as more companies digitalize operations and seek lower costs.

Within the BPO sector, the biggest opportunities lie in customer service outsourcing. The Philippines is now the world’s leading location for voice-based support, with over 1.3 million Filipinos employed. However, non-voice segments like content moderation, social media assistance and back-office support are growing fast as well. New areas emerging include healthcare services outsourcing as more countries look to leverage remote nursing call centers and medical transcription. For IT services, demand is surging for capabilities in software development, cybersecurity, and digital transformation projects. Startups and scaleups are also driving new outsourcing contracts, joining traditional sectors like telecoms, banking and e-commerce.

The outsourcing landscape has become more diverse beyond the major hubs of Metro Manila and Cebu. Regional centers are attracting new investments with competitive incentives and infrastructure. Areas transforming include Clark, Subic and Batangas near Manila, as well as Bacolod, Iloilo and Cagayan de Oro. New special economic zones catering to BPO/ITes are fueling job creation outside urban hubs. Smaller towns are also entering the sector through work-from-home arrangements enabled during the pandemic. This is opening new opportunities for local entrepreneurs to establish outsourcing operations in their communities.

With its large talent pool, competitive costs and experience serving global clients, the Philippines is well-positioned to capture more high-value, specialized outsourcing work as well. Niche capabilities in sectors like healthcare, legal process outsourcing and animation/visual effects have significant room for expansion. The country has invested heavily in developing world-class training programs to continuously upgrade the skills of its outsourcing workforce. Continued investments in digital infrastructure such as 5G networks and undersea cables will further strengthen the country’s value proposition for global business services. New startup hub programs are also nurturing local tech enterprises and facilitating collaborations with global innovators. With a young, skilled population and a proven track record of delivering outsourced services, the Philippines offers vast opportunities for new market entrants. Both domestic conglomerates as well as foreign investors are actively expanding their outsourcing footprints across the country to tap its business-friendly environment and talented workforce. The sector will remain a bright spot in the Philippine economy, driving sustainable growth and jobs.

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

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