The Philippines Department of Trade and Industry (DTI) defines BPO as the “delegation of service-type business processed to a third-party service provider.” The industry is generally divided into the following sectors: Contact centers, back office services, data transcription, animation, software development, engineering development and game development.
BPO in the Philippines is becoming a key developing industry, primarily due to the relatively low cost of living, and a workforce which composed mainly of young and educated Filipinos with good spoken English language skills. The majority of international research and data companies have placed the Philippines as the no 1 trending country as the top outsourcing destination.
In 2015, the Philippines replaced Mumbai as the 2nd ranking BPO destination and will in all likelihood continue to maintain a high position in the Top 10 worldwide outsourcing destinations (dominated mostly by Indian cities) in 2017.
In 2016, BPO in the Philippines continued to experience a positive growth rate. Activity in the industry appears to be robust enough such that the industry’s projected total income range would reach US$ 40 to 55 billion by 2020. The Industry, currently employing about 1 million Filipinos, is also projected to increase employment by providing a total of about 1.3 to 1.5 million new jobs in the next three years, both in terms of employees directly and indirectly employed.
The BPO industry is regarded as a priority by the Philippines Development Plan as essential to the country’s ten high priority development areas. To further entice investors, existing government programs include incentives such as tax holidays, tax exemptions, and simplified export and import procedures. Additionally, there are University training programs available for would-be BPO employees
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