Outsourcing to the Philippines: Bright outlook as country named SEA’s new economic leader

Outsourcing to the Philippines: Bright outlook as country named SEA’s new economic leader

August 8, 2013

The country is now leading the economic race in Southeast Asia, an international debt watcher reported last Monday. This poses a positive outlook for the outsourcing industry in the Philippines, shown to be a main contributing factor to the overall progress of the economy, and other sectors.

According to news reports, Standard and Poor’s Rating Services chief economist Paul Gruenwald said that, “The Philippines, which Standard & Poor’s recently upgraded to investment grade, has taken over the ASEAN growth leadership role from Indonesia. We project Philippine GDP to expand by almost 7% this year, moderating to 6% to 6.5% in 2014 and 2015.”

Earlier this year, the country has also secured its second investment grade rating, vouching for the sustainability of the Philippine economy particularly for interested investors and global companies seeking to outsource various services in the country.

The report also predicted the country’s economic growth to grow 6.9% this year, outperforming other countries such as Indonesia (6.1%), Vietnam (5.3%), and Malaysia (5.3%). The BPO sector, meanwhile, shows continuous impressive growth, with predicted overall revenue of $16 billion for 2013.

Photo credit: Allan Donque, Trishhhh on Flickr

Leave a Reply

Open Access BPO
Open Access BPO15 hours ago
Open Access BPO ensures uninterrupted service for your business during COVID-19 and beyond while prioritizing the health and safety of our OABPO family.

Learn more about our #COVID19 response: https://zcu.io/dRYx.

Open Access BPO
Open Access BPO2 days ago
Check out these #CustomerRetention tips that your outsourced #CallCenter agents can apply: https://zcu.io/VFa9

#WeSpeakYourLanguage #CustServ
Open Access BPO
Open Access BPO3 days ago
If your business is in one of these industries, collaborating with a #multilingual outsourcing firm is a must to serve your customers in languages they speak and expand market reach: https://zcu.io/Zdls

#WeSpeakYourLanguage #Outsourcing #CX
Open Access BPO
Open Access BPO4 days ago
Photo moderation is done as a way to maintain quality and order in your online community. Keep your online properties free from inappropriate images that may damage your reputation: https://zcu.io/zClT

#WeSpeakYourLanguage #ContentModeration #Outsourcing
Open Access BPO
Open Access BPO5 days ago
Looking for a #ContentModeration solutions vendor? Look into different moderation options before tapping an expert to manage your website or community forum: https://zcu.io/hoRO.

#WeSpeakYourLanguage #Outsourcing
Open Access BPO
Open Access BPO1 week ago
Wishing our colleagues, friends and family celebrating a happy #RoshHashanah. May you find joy, peace, and love in this new year.

#WeSpeakYourLanguage #OAHolidays #RoshHashanah5781