5 Major Reasons for BPO Industry Growth in Philippines

The BPO or the IT BPO sector is one of the highest developing industries in Philippines presently. It has actually transformed the geo-political atmosphere of this country, making it exceedingly a profitable venture for the first-class well-paying jobs it offers to more than a few Filipinos and promoting investments and various cost-effective business activities across the country.

The accomplishment of the country as a BPO refuge has witnessed its rise as a leader in offering value-added business process outsourcing services globally. Philippines were ranked second in the list of top 100 outsourcing countries in the world in 2015.

Reasons behind the Success of the Philippines in BPO Development

Why BPO service is growing fast in the Philippines is because the program has actually received the support of the Philippines Development Plan led by the government of the country. This initiative guaranteed incentivized local and international investments as well as other tax advantages.

Other key factors that have actually contributed to the development of the BPO sector in Philippines are:

1. Free Microsoft Apps Licenses

At the growing stages of the BPO industry in the Philippines, there was a free donation of free Microsoft Apps Licenses to the PCPS program by Bill Gates. This is to ensure that the government of the country hits the ground running with its idea for quick and efficient BPO industry development in the country, and avoid enormous capital expenditures.

2. Incentives

The investors in Philippine BPO business are provided with a considerable number of incentives such as autonomy to hire foreign nationals, easy import procedures, tax exemptions on imported equipment, and tax holidays.

3. Filipino Employees Contribution

The Filipino workers also contributed immensely to the success and growth of the BPO industry in the Philippines. They are more patient; a useful trait when dealing with infuriated customers. They are also fluent in Western-accented English just like their Indian counterparts. They are also exceptional and stand out from other similarly skilled workers when it comes to problem solving and close affinity to Western culture.

4. Government Contribution

The Filipino government is always quick when it comes to passing major legislative changes which support international organizations looking to outsource to Philippines. The Data Privacy Act is a good example. This particular Act puts strict global quality data privacy standards into place to make sure sensitive information handled everyday remain secure.

5. Growing Industries

Another secret to the successful growth of BPO industry in the Philippines is due to the fact that the government focuses more on growing industries in voice and non-voice sectors, including animation, healthcare information management, and global in-house centers (GICs). Gaming also guaranteed future BPO development in the country.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! inspires entrepreneurs build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.