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The Business Process Outsourcing (BPO) industry here in the Philippines is like a Hollywood blockbuster film. It’s called the “sunshine industry” due to the arrival of BPO companies investing in the Philippines, which doubled over the last couple of years and will look to further increase in the coming years makes it one of the fastest rising sectors of our economy. Majority of these investments came from call center giants, which comprises 70% of the whole BPO industry in the country. Now, the BPO industry in the country is valued at more than $200 billion and will only look to grow in the coming years with new companies staking their claim. The Philippines has become a a paradise not only for call center companies but also for the rest of the BPO industry all over the world.

Research shows, the Philippines has catapulted over India in terms of BPO service. Right now, figures say that there are 1164 call center and Voice Over Internet Protocol (VOIP) companies spread over 24 key locations around the country. This translates into a strong workforce of over 600,000, a big percentage belongs to the call center industry. In 2010 alone, Philippine call centers posted revenue of more than $6 billion. By 2015, the BPO industry would have made a staggering $15 billion worth of revenue and increased it’s workforce to 1.3 million.

BPO companies around the world favor the Philippines over other countries are of the following reasons:

Cheap operational and labor costs are one of the main reasons why BPO companies choose to operate their business in the Philippines as supposed to other countries such as India. BPO companies are given tax holidays on top of the tax incentive given to them by the Philippine government if they choose to invest their respective companies here in the Philippines. The Philippines is also home to a wide range of skilled workers, willing to be part of the BPO industry. Being the third-largest English speaking population in the world, Filipinos have become proficient speakers. This is ideal for BPO companies as Filipinos could send messages with the so-called American accent, which the callers are accustomed to and thus would give them a great experience. English speakers are steadily improving with constant training and seminars to keep them in pace with other BPO agents around the world. Labor wise, when compared to Indian BPO Practitioners, Filipino agents get half as much as their Indian counterparts, which would mean to a huge savings for the BPO companies.

Second, the Philippines is heavily influenced by the west, stemming from the years Philippines had been a colony of America. We learned to like any “stateside” and it wouldn’t be problem building relationship with the callers coming from the states as Filipinos are not foreign to their habits and likes, and would easily get along with them. The availability of western resources is key in maintaining a prosperous and harmonious relationship with both callers and clients.

The Philippines is ready to be the BPO capital of the world!