MANILA, Philippines - The Philippine economy will continue to get a big boost from the business process outsourcing (BPO) industry this year as more companies in the world turn to Manila for their outsourcing needs.
Manila is the world's 3rd most preferred BPO destination, improving by a notch in investment advisory firm Tholons' 2013 ranking of 100 leading BPO cities across the globe. The Philippine capital overtakes Delhi, India, which now occupies the 4th spot.
Six other Philippine cities are in the list. Cebu City rises to 8th from 9th, pushing Dublin, Ireland down in the list. Sta. Rosa in Laguna climbs two spots to No. 84, while Iloilo is steady at No. 93. Baguio City is new in the list, ranking 99th, while Bacolod City re-enters at No. 94.
The Philippines, according to Tholons, enjoys a more vibrant IT-BPO industry than either Indonesia or Malaysia. In 2012, these 3 countries were considered the most promising Southeast Asian destinations because of their "maturing outsourcing brands, improving macroeconomic environment, and expanding domestic markets."
"The Philippines IT-BPO industry [has been] fueled by increased new investments from large and mid-sized foreign providers, as well as greater expansions of established locators and captives across many of the country’s established delivery locations," Tholons says.
Benedict Hernandez, President and CEO of the Business Processing Association of the Philippines, notes the Tholons' report "reaffirms the Philippines' position as a destination of choice for outsourcing services."
"In 2012, we saw impressive growth across all sectors of the Philippine IT-BPO and GIC industry. The year 2013 promises to be even greater as we expect revenues to increase to US$16 billion to provide employment to 926,000 Filipinos."
Tholons says the Philippines continues to be a global leader in voice services while it expands into other sectors like software development, IT, animation and game development, and heath care information management. - Rappler.com