Bright economic prospects in 2011

MANILA, Philippines – Information Technology (IT) and business process outsourcing (BPO) industries such as call centers, as well as the tourism sector, are seen, in a projection by the National Economic and Development Authority, as continuing to offer bright financial prospects to the national economy in the year 2011, especially in job generation and in the effort to widen private services. Each year, the billion-dollar call center business gives jobs to millions of new graduates and the unemployed. Along with the remittances of overseas Filipino workers (OFWs), it is often cited as a factor that keeps the economy afloat, sparing it from the downturn effects of the global recession.

There are 788 call centers in 20 key locations in the country, including Muslim Mindanao, employing 350,000 young Filipinos this year, up from 300,000 in 2009. The Philippines, along with India, holds a major portion of the global outsourcing market, due in large part to the English proficiency of Filipinos. Thus, for several years now, the country has become a hub where Western companies set up call centers and software development outlets to cut costs. Today, the country’s call centers count among their clientele giant multinationals from the United States, Europe, Middle East, and Asia. Pharmaceutical firms also outsource their medical transcriptions from the country.

Young Filipinos prefer to start their career in the call center business. Apart from this, call center agents are subjected to intensive training that helps improve their English skill as well as equip them with discipline, self-esteem, and the “corporate attitude” to survive in any business environment. The training may be difficult at the start, but workers find out that it’s all worth it as the job boosts their self-confidence and communication skills.

Development in the BPO and tourism industries enjoys government support. This year, more infrastructures such as railway and airports are envisioned to be upgraded, under the public-private partnership (PPP) program, to attract more visitors and investors, as well as provide more jobs for Filipinos.

The country remains a favorite destination because of its world-class facilities and services – good hotels, fine restaurants, beautiful beaches and resorts, modern shopping centers and communication services, efficient event and exhibition organizers, and professional tour operators – but more importantly, the warmth and hospitality of Filipinos. –Manila Bulletin