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Follow on Google News | Sourcing Destination Snapshot - The Emerging Philippine Value Proposition“The Philippines offers many opportunities as an offshore sourcing destination as well as being well positioned as a regional hub for Asia Pacific.” - Ralph Schonenbach (CEO, Trestle Group)
By: Daniel Rivette From a sourcing perspective, the Philippines is one of the global titans. Ranked 2nd after India as a business process offshoring market by destination, the Philippines has emerged as a power-player that has aggressively taken advantage of the outsourcing trends over the past decade. In 2010, IT and BPO revenues totaled $9 billion in the Philippines and its global share of the offshore services market rose from 7% to 8%. Clearly, with a large pool of English-speaking talent and 92.6% literacy rate, the scale and skills required for both voice and non-voice BPO are present. Currently, the nation has over 600 IT & BPO companies present with labor force totaling approximately 530,000. In regards to growth, the Philippines IT-BPO industry as a percentage of GDP has nearly doubled to 4.8% in 2010 from its base at 2.7% in 2006. This expansion has not stopped. During the financial crisis alone, the Philippines bucked the negative global trend and demonstrated a 19% growth rate in IT / BPO revenues. With this level of operational tempo and expansion, not only is talent available across the Philippines, it is also now proven. Industry and Government Support The Business Processing Association of the Philippines (BPAP) clearly plays a leading role in supporting the local offshoring industry and has together with relevant stakeholders developed and acted on a comprehensive action plan designed to grow and improve the Philippines’ Detailed information about this article and more publications on: http://www.trestlegroup.com/ # # # Trestle Group is an international firm providing services solely focused on global sourcing. Through our diverse and complementary set of services, clients benefit from support ranging from strategy through to implementation. Whether you are interested in setting up operations in Eastern Europe, outsourcing to India or ready to make the world a better place through our Foundation (www.trestlegroupfoundation.org) End
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