Call center among the Philippines’ tickets to 8% GDP

Call center among the Philippines’ tickets to 8% GDP

OABPO Blog Team Published on February 11, 2014

Call-center-Philippines
Businesses under industries such as manufacturing, construction, and call centers give the Philippines a promise of 8% GDP growth.

More manufacturing investmentsIn 2013, nothing stopped the Philippines from attaining its 7.2% gross domestic product (GDP). This year, analysts are equally positive about an upward GDP turn through the help of these sects: manufacturing, construction, and call center—the Philippines’ top growth drivers.

Businesses are even positive about an increase of as much as 8%, a possibility that isn’t far happening, considering that the Philippines is last year’s second fastest growing Asian economy after China. What led analysts to have this optimistic forecast is the rise in investments by three local industries.

Call-center-Philippines--

The manufacturing segment of the industrial sector expanded by 12.3% in 2013, pushing the whole sector to grow by 9.5%. And this is only the beginning of the manufacturing segment’s upsurge in the next decade.

Local manufacturers thank foreign investments for this progress, particularly Japanese and Korean companies that have been setting up factories within Philippine shores. Philippine Export Zone Authority (PEZA) Director-General Lilia de Lima even expects more Japanese investments to pour in, as Japan is short on manpower, and many of its nuclear plants are still non-operating after the 2011 tsunami. Japan resolved its labor issues by sending work to China, but as Chinese relocation is becoming costlier as the years go by, the labor shift went to Southeast Asia. And fortunately for the Philippines, labor unrest in its neighbor countries made it a far better investment choice.

Continuous construction projects

The Department of Public Works and Highways (DPWH) claimed to be spending its budget on real infrastructure projects after clearing the department’s name from the ghost project allegations tagged with its development assistance program.The construction sector is also expecting a close to 10% annual growth after the government continuously increased the budget allocation for this sect and implemented legitimate public works projects.

Call-center-Philippines---

In addition to the honest efforts, four multi-billion-peso construction projects by the Public Partnership Program (PPP) are underway, and even more constructions for call centers in the Philippines will commence in the next two years.
Aside from contributing to the country’s overall GDP growth, these projects promise employment to thousands of Filipino workers, especially in the provinces.

Outsourcing to outgrow foreign remittances

Opposing the Philippine peso’s depreciation, remittances from overseas Filipino workers (OFW) along with the earnings generated by the knowledge process outsourcing (KPO) and business process outsourcing (BPO) industries are bolstering the country’s foreign exchange reserves.
The outsourcing sector continues to expand every year. In the last half decade, BPO gradually branched out from an industry that dominantly offers voice service, to a sect with higher-value knowledge process services such as engineering, accounting, research, architecture, and medical transcription.At the rate this sector is growing, outsourcing will most likely overthrow OFW remittances as the Philippines’ main source of income.

At the end of the day, the anticipated GDP growth will only be achieved if the government spearheads economic campaigns and not entirely rely on industries such as manufacturing, construction, and call center. The Philippines may owe its robust financial performance to these three sects, but they wouldn’t have attained their growth driver status without the aid of various components of the business world.

Open Access BPO grew from a telemarketing startup to an all-around outsourcing firm that provides its clients voice and non-voice solutions including web development and rich media development. 

Leave a Reply

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO5 hours ago
Open Access BPO's Las Vegas office is moving to new location as it starts to expand its operations with on-site managed #onshoring programs, a support campaign for a healthcare provider. https://buff.ly/3b1jK1e

Experience the Open Access BPO Difference with high-quality #CustomerSupport and #ContentModeration in over 30 languages. https://buff.ly/3ps8VNV

#WeSpeakYourLanguage #MultilingualCallCenter #outsourcing
Open Access BPO
Open Access BPO9 hours ago
Aligning your business goals with the vendor’s objectives goes beyond enumerating the results you want to achieve for your business. Read more: https://buff.ly/3CeySUI

Contact us to partner with our Makati and Davao sites: https://buff.ly/3pmC0dL

#WeSpeakYourLanguage #outsourcing
Open Access BPO
Open Access BPO22 hours ago
Did you know that Makati City, Philippines houses most of the country's top companies? Open Access BPO’s flagship centers in Makati leverage world-class infrastructure and the country’s most expansive, multilingual talent pool. Learn more about our Makati sites here: https://buff.ly/2Z2YEwF

#WeSpeakYourLanguage #callcenter #outsourcing
Open Access BPO
Open Access BPO1 day ago
How you communicate with your outsourced #callcenter in the Philippines can make or break your #CX success. We'll walk you through how to effectively manage your outsourced team: https://buff.ly/2ZeT6zE

Message us today for worry-free outsourcing: https://buff.ly/3E2rCMs

#WeSpeakYourLanguage #outsourcing
Open Access BPO
Open Access BPO2 days ago
Achieve great heights for your business with 24/7 customer support, back office, and content management solutions trusted by some of the world's BIGGEST brands. Open Access BPO speaks your customers' language. Choose from any of our prime locations in the Philippines, the US, China, and Taiwan.

Where would you like to bring your brand? Get in touch with us to get started: https://buff.ly/3vu0Edk

#WeSpeakYourLanguage #callcenter #outsourcing #multilingual
Open Access BPO
Open Access BPO2 days ago
As customer expectations keep growing, should you underpromise and underdeliver? Find out if it's worth the effort: https://buff.ly/3ncUiLF

Contact us TODAY for 24/7 #CX that exceeds expectations: ttps://buff.ly/3b08WjH

#WeSpeakYourLanguage #outsourcing
Do NOT follow this link or you will be banned from the site!