Manila took over Mumbai’s spot as world’s 2nd outsourcing city in 2014. IT-BPO industry is growing as second largest source of income and is bound to soon overtake overseas Filipino workers remittances by 2017.
BPO Industry also drives demand for office space which is good for real estate market and infrastructure.
Though there are a lot of existing and growing companies in the Philippines, the foreign investors are still fond of establishing outsourcing companies because of the employ-ability of Filipinos and the ease of English language.
However, the overall population of Philippines is fas less than that of other large outsourcing countries like India and China. So, Philippines is in the outsourcing race but let’s see how far it will go. Rebuilding of the country as the sidelines is a plus.