Philippines Is the New Market Darling in Asia

With the major economic players in Asia such as China and India experiencing an outsourcing slumped, business analysts are now starting to look at the Philippines as a fast-growing customer service-driven economy in Asia
 
Sept. 11, 2012 - PRLog -- With the major economic players in Asia such as China and India experiencing an outsourcing slumped, business analysts are now starting to look at the Philippines as a fast-growing customer service-driven economy in Asia that has been delivering high quality, cost-effective business process outsourcing services to businesses worldwide.

Prominent business experts and economists, as recently reported in CNBC, are amazed at the country’s much-better-than-expected economic growth in the first half of 2012, prompting them to dub the Philippines as the “new market darling” and “rising economic star” in Asia.

Number One Hotline in the World

In 2011, the Philippines has become the world’s biggest contact center hub, a huge responsibility that was once held by India for years. Now the country recorded a total amount of $7.6 billion in voice-based business process services alone, with only $7 billion recorded by India.
This 2012, the country shows no sign of declining on its pace to hold the top spot as the number 1 offshore outsourcing destination in the world.

Here are a few of the main factors that make the Philippines very appealing to foreign investors:

•   Superior workforce
•   Structural improvements
•   Rising political stability
•   Low-cost customer service solutions
•   Advanced telecommunication networks

All of these major factors have greatly contributed to the increasing numbers of business owners and multi-national companies to invest in the country, solidifying the position of the country as the top option for the outsourcing industry.

The Philippines boasted a deeper pool of qualified workforce that are well-educated and highly skilled in the customer service industry, IT services, financial, and healthcare. The Filipino professionals are known also for their affinity to the Western culture, making them easily acclimated to the demands of their US and UK clients. In addition, they are also very comfortable to speak the English language.

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