The Philippines is synonymous with back-office outsourcing and is considered the hub of the global outsourcing market. The largest BPO population resides in Metro Manila, the capital of the Philippines. With a trained workforce, English language fluency, and attractive hiring rates, the archipelago is a top destination that meets all your back-office support services outsourcing requirements. It commands an impressive 10-15% of the global BPO market and is one of the three top contributing economies to the APAC for IT outsourcing. Its revenue is expected to grow immensely at an annual growth rate (CAGR 2024-2029) of 9.04%, which will increase the market volume to US$ 1.11 bn by 2029, signaling a promising future for the industry.
Top Reasons to outsource back-office support services to the Philippines
The archipelago boasts a qualified and trained workforce equipped to provide high-quality services. Fluency in English, technological innovation, diversification of outsourcing roles, and significant government support via skill development and tax incentives make the Philippines a global favorite for diverse outsourcing requirements. With Filipinos boasting a 90% literacy rate, the region has plenty of talent and a qualified workforce. From IT support services and virtual healthcare to data entry, the Philippine workforce can handle all kinds of back-office outsourcing requirements. The BPO outsourcing market is estimated to reach US $ 0.72 billion in 2024, employing 1.7 million workers. But fast catching up is the healthcare industry, which now makes up for an impressive 12% of the outsourced work.
Popular Outsourcing Services in the Philippines
Today, businesses are hiring registered nurses for online health consultation services, trained employees for data management, and even virtual assistants from the Philippines in the restaurant industry to offer a novel experience to customers. Indeed, the Philippines is progressing by leaps and bounds with continuous innovation and strategic support from the local government. It’s no surprise that businesses from worldwide flock to the Philippines to meet their diverse outsourcing requirements. The North American market, Australia, and New Zealand- all these countries prefer the Philippines for back-office support. The presence of reputed back-office service providers helps companies to get quality support at attractive prices.
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