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As the top call center country of the world , the Philippines continuously impress global leaders because of its educated workforce, efficient labor practices, industry expertise, low laborcost, and strategic location. 2012 : The revenue of the BPO industry comprised 5.4% to the country’s total GDP.
Inflows of FDI have risen every year since 2012 , and they more than doubled from 2015 to 2019, up to USD983 million. However, it’s notable that Senegal’s laborcosts are not as low as some may assume. Still, laborcosts in Senegal are quite reasonable on a global scale.
Also, it’s known for its educated workforce, efficient labor practices, industry expertise, low laborcost, and strategic location. Furthermore, the Philippines’ data privacy law ‘ Data Privacy Act of 2012 ’ has significantly increased the position of its IT-BPO sector in the market.
trillion to the global GDP in 2012. Some of the most obvious advantages of offshore software development include: Reduced Costs Since offshore software developers are located in different countries, they don’t have to worry about dealing with local labor laws or the local labor market.
However, you will need to consider both direct and indirect costs when your company budgets for new hires. Laborcosts of reviewing and interviewing job candidates. These are some of the expenses you’ll want to keep in mind: Job postings. Allowances. Bonuses, if applicable.
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