MANILA, Philippines — Increased inflows from overseas Filipino workers (OFWs), the business process outsourcing (BPO)…
In terms of BPO queries, the Philippines comes in fifth.
According to the 2022 Outsourcing Performance Report of Outsourcing Accelerator (OA), a platform for the business process outsourcing (BPO) industry, the Philippines had one of the greatest inquiries about outsourcing.
In terms of inbound inquiries, the Philippines came in fifth place last year, accounting for 3.81 percent of all inquiries, indicating that foreign companies are interested in setting up back offices there.
The Philippines, which receives the second-highest percentage of inquiries after the United States (43.19%), is followed by Australia (18.11%), Canada (10.78%), and the United Kingdom (9.09%).
Inbound queries from this nation outnumbered those from New Zealand, India, and Ireland. According to OA, inbound queries include requesting bids, receiving a free toolkit for outsourcing, and scheduling a call to learn more about BPO in a specific nation.
A total of 14,663 inbound inquiries at OA in 2022 with an estimated value of USD857.1 million grew by 125%. (PHP42 billion).
According to the research, these inquiries originated from businesses looking to outsource 28,570 full-time positions in 146 different nations.
OA founder and CEO Derek Gallimore said, “We expect the strong trend towards remote and outsourced services to continue until 2023, and will reflect in online traffic and queries.”
According to the outsourcing market, a significant portion of requests for full-time positions came from the financial services sector (11.19%), followed by demands for digital marketing (11%), real estate (10.08%), healthcare (7%) and software, tech, and information technology (7%). (6.96 percent).
Construction and renovation, e-commerce, education, public relations, advertising, retail, hardware, technology, and IT, transportation, manufacturing, food and beverage, hiring and staffing, legal, entertainment, energy, hospitality, telecommunications, travel, media and publishing, non-profit organization, pharmaceutical, government, public utilities, and game development and support are additional industries that are considering outsourcing roles.
By 2028, the Philippines’ IT and Business Process Association hopes to generate USD59 billion in income.
With a 13% rise in revenue per full-time employee, it wants to increase the number of high-skill category jobs.
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