Top 3 Outsourcing Countries in 2017
In recent decades, business process outsourcing (BPO) has become a common practice around the globe. Not only does outsourcing help businesses reduce expenses, but it also helps enterprises stay competitive. For those who are just now considering outsourcing, we have put together a short report of the best locations to find your outsourcing partner.
Top 3 Countries for Outsourcing
Without a doubt, the Philippines among the top-rated destinations for outsourcing. It is a highly educated nation with a wealth of skilled individuals who work with dedication and excellence. The Philippines’s colorful colonial history has been turned to advantage, making its people resilient, English-proficient, familiar with western business practices, and culturally open and diverse. All great ingredients for a booming outsourcing industry.
To top it all, the affordable labor and living costs make the country a very lucrative outsourcing hub. The national and local governments also offer great support in terms of providing the necessary framework, legal and tax incentives for international investors.
Poland is among the top outsourcing destinations of the world, and specifically in Europe. With its fast growing economy that has opened to the world, it is no longer a stagnant communist country. With high rates of literacy, the workforce of Poland is multi-talented and culturally enough to work in an international environment. The Polish people have a strong work ethic and have high regard for corporate values. The country offers a variety of outsourcing services, with the largest percentage being technology.
India is among the best places for outsourcing your business activities, owing in part to it being the second most populous (1.4 billion) and highly literate country worldwide. This enormous pool of human capital has allowed the county to offer highly affordable labor costs. A well-developed telecommunications infrastructure and strong government support has allowed the software and computer programming outsourcing industry to shine.
Elements of a Great Outsourcing Destination
Below are some of the key reasons the Philippines has grown to become one of the best outsourcing countries worldwide:
While the Philippines is located in the Southeast Asian region, it has very few cultural similarities with neighboring countries. This is because of the country’s occupation by the Spain and the United States for a combined total of almost half a century. As a result, English is the official language in businesses, government, media, and academe, along with the native Filipino tongue. Likewise, business practices and lifestyle are similar to that of western organizations.
Language Is an Advantage
Because English is officially used in schools from elementary to the higher learning institutions, a large percentage of Filipinos are well-versed in the language. Many professionals can claim that English is a second language, making this proficiency an advantage in attracting global companies to outsource to the country. As a result, the Philippines is a top destinations for both voice and non-voice outsourcing.
Filipinos are ranked among top most literate nations in the entire world, with about 98% of the population having basic literacy. Adding other skills such as comprehension and numeracy, the functional literacy rate is about 95%.
In recent decades, the Philippine economy has been elevated to that of an emerging ‘tiger’ nation. Through wise investments in technology and infrastructure, the Philippines has been able to create a favorable business environment for local and foreign investors. However, the true wealth of the Philippines is its people. Filipinos are excelling overseas as professionals and skilled workers in the medical, engineering, and hospitality industries. Locally, workers are finding stability in technology and outsourcing jobs. The rise in employment and dollar remittances has spurred local consumption and construction, huge dollar reserves in the central bank, and overall a growing gross national product.
Affordable Human Capital
The low cost of living in the Philippines has pegged labor costs at a lower rate than other countries. In addition, the workforce consists of educated, adept, and excellence-oriented professionals. These factors comprise value-for-money benefits for companies that are considering to outsource to the Philippines.
If you are a a small or medium-sized business looking to augment your lean team through outsourcing, Yempo can provide you with the best possible outsourcing experience. To learn more, contact us today!