Southeast Asia: Why is BPO industry booming in the Philippines?

I have a reasonable belief that Business Process Outsourcing is the future of main street businesses to Fortune 500 companies. Brands hire these companies for 3 major reasons-agility, connectivity, and cost containment.

Did you know, the first-ever call center in the Philippines opened in 1992? Since then, the Philippine BPO industry has grown on a massive scale and today, there are around 700 BPOs operating in the country.

The growth of the Business Process Outsourcing industry in the Philippines was so fast that the country was hailed the “Call Center Capital of the World” in just less than two decades. According to some experts, Filipino is the most accent-neutral language, which is the reason why this country in Southeast Asia has replaced India as the “Call Center Capital” of the world.

Today, the island of The Philippines, a developing nation is still leading in BPO race among the ASEAN members. The industry of BPO in the Philippines has its boom for the last several years and consistently gaining grounds as one of the most reputable industries so far.

Different countries around the globe have seen their business process outsourcing capital steadily increase over the past few decades. Philippines is an island nation where BPO has experienced tremendous expansion in recent years contributing significantly to the country's GDP development and progress in other economic areas. More and more global investors are drawn to the country to outsource their services. In fact, the BPO industry has expanded to the point where it is now regarded as one of the Philippines' major economic foundation, and it continues to boom even in this time of global health crisis.

Thanks also to its cost-effectiveness, outsourcing to the Philippines has been one of the game changing methods used by multinational companies in Australia, United States, the United Kingdom, and other European countries. Moreover, as a result of recently reduced trade obstacles globally, demand for BPO services have massively increased. Ultimately, a number of different organizations are seeking vendors from different countries in order to lower their operational expenses while maintaining the quality of their services.

So what types of changes do you think can happen for the BPO sector in Southeast Asia in 2022? How will emerging technologies reshape economies in Southeast Asia and how can ASEAN leaders prepare for the changes that lie ahead?

Some top predictions are:

- Remote & Cloud-Based Call Centers
- Near shore BPO boom
- Increased Demand For Bilingual Virtual Assistants

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