The BPO Industry:
BPO, which stands for Business Process Outsourcing is a system of delegating different business-related operations of your company to a third party organization that offers services such as human resources, payroll or call center services.
In 1992, Frank Holz under his company, built the first contact center in the Philippines. Three years afterwards, the Philippine Congress passed the Special Economic Zone Act, lowering area requirements for development and offering tax incentives to attract more foreign investors which brought various telemarketing companies to the country. By the year 2005, the Philippines gained 3% of the Global BPO market and the BPO industry represented for 2.4% of the country’s gross domestic product. In due time, the Philippines was professed to be the world’s BPO capital and leading call center destination beating India.
According to Tholons survey, eight cities in the Philippines are on the Top 100 business process outsourcing destinations in the world for 2015. Metro Manila and Cebu City remained on the 2nd and 8th spots respectively in comparison to their ranking last year.
Presently, Philippines continues to become an attractive location for foreign investors. With a revenue income that soars beyond $15.5B, it is anticipated that the industry would produce more than a million new jobs this 2016
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