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But as the BPO industry in the Philippines continues to grow, more complex processes are being outsourced to the country. According to a 2015 research by the Everest Group, the FAO market is now reaching its maturity with its growth rate declining to approximately 6% unlike to the industry’s double-digit growth from the previous years.
One of the main factors is the lower cost of doing business in the Philippines. Bustos said the country’s laborcost is only 25 percent of China’s laborcost, and it is cheaper to operate a business here than in Singapore or Hong Kong due to lower living expenses and office space/residential rent.
The global knowledge process outsourcing (KPO) market is expected to grow at a compound annual growth rate (CAGR) of about 23 percent from 2015 to 2019, according to study published by Technavio. Philippine IT BPO Revenues to Reach $3B in 2016. Reference: – [link]. Reference: – [link]. Outsource Bookkeeping Philippines.
percent CAGR ) from 2015 to 2020. . India and the Philippines , in particular, are known for their mature business process outsourcing (BPO) environments and consistent attractiveness ratings due to a large population of highly skilled workers, lower laborcosts and efficient technology infrastructure.
But as the BPO industry in the Philippines continues to grow, more complex processes are being outsourced to the country. According to a 2015 research by the Everest Group, the FAO market is now reaching its maturity with its growth rate declining to approximately 6% unlike to the industry’s double-digit growth from the previous years.
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