Last month, President Benigno Aquino of the Philippines gave a speech in New York highlighting key elements of his vision for economic growth in the Philippines. Fundamental to his vision is fostering an environment that is friendly to Business Process Outsourcing (BPO) providers. President Aquino recognizes the huge potential for growth in the BPO industry in the Philippines, even though the BPO market in the Philippines is already the second largest in the world. Why is BPO flourishing so well in the Philippines? And how is the Philippine government working to help it grow even more?

Several key factors have contributed to the growth of BPO in the Philippines. One of the foremost reasons for the success of BPO in the Philippines is the large English-speaking workforce that is well-equipped to provide quality customer support and other services to American companies and consumers. Not only is the Philippine accent very easy to understand, but also these workers, many of whom are college graduates, are dedicated to a career in customer service. Other factors that have contributed to BPO’s growth in the Philippines include competitive labor costs, reliable telecommunication infrastructure, and strong partnerships between the public and private sectors.

This positive relationship between the public and private sector is one reason that the Philippine BPO industry is projected to grow from about $11 billion of revenues in 2011 to $25 billion in 2016. President Aquino has worked to make Business Process Outsourcing a priority in his administration. His efforts have been noted by top executives of major outsourcing providers, who have publically thanked the Philippine government for its efforts in supporting the BPO industry. Some of President Aquino’s initiatives include increasing the opportunities for Filipino workers to receive training that will provide the necessary skills for BPO and aggressively pursuing charges of corruption within the government while advocating for stronger democracy in the Philippines. His efforts in the latter area are paying off as the Philippines has jumped up 10 spots over the past year in the Global Competitiveness Report of the World Economic Forum.

As these governmental initiatives continue to improve the environment for Business Process Outsourcing, the Philippines will become an even more attractive destination for BPO providers, who are already flocking there to tap into the great potential of the Philippines.

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