Follow Philippine Investment Immigration and Philippine Economy: The outsourcing industry in the Philippines only took off eight years ago, but it has now become a sector that many young people are entering. Over 1 million Filipinos are employed in call centers and related outsourcing companies, most of which provide services to American businesses.
Low labor costs combined with professional skills have led more and more American companies to consider the Philippine workforce highly valuable, utilizing this labor to respond to customer complaints, develop potential clients, perform data entry, format documents, read medical scans, and summarize litigation.
The rapid growth of the Philippine outsourcing industry has now allowed the country to surpass India as the global capital of call centers. While India still dominates the information technology outsourcing sector, most other business process outsourcing (BPO) tasks are now the domain of Philippine university graduates.
Experts estimate that the Philippine BPO industry will generate $25 billion in revenue by next year, accounting for approximately 10% of the country's economic output.
