MANILA – The Philippines received one of the highest numbers of inquiries on outsourcing, according to the 2022 Outsourcing Performance Report of Outsource Accelerator (OA), a marketplace for the business process outsourcing (BPO) industry.
The country ranked fifth with the most number of inbound inquiries, sharing 3.81 percent of the total inquiries last year, signaling the interest of global businesses to establish their back offices in the Philippines.
The Philippines is behind the United States getting the highest share in inquiries at 43.09 percent, followed by Australia at 18.11 percent, Canada at 10.78 percent, and United Kingdom at 9.09 percent.
The country surpassed inbound inquiries in New Zealand, India and Ireland. OA said inbound inquiries include a request for quotes, downloading of a free outsourcing toolkit, and booking a call to inquire about BPO in a particular country.
In 2022, inbound inquiries at OA increased by 125 percent to 14,663 inquiries, with an estimated value of USD857.1 million (PHP42 billion).
The report said these inquiries came from companies from 146 countries that want to outsource 28,570 full-time roles.
“We expect the strong trend towards remote and outsourcing services to continue into 2023, and will reflect in web traffic and inquiries,” OA founder and chief executive officer Derek Gallimore said.
The outsourcing marketplace said a big chunk of requests for full-time roles came from financial services (11.19 percent), followed by digital marketing (11 percent), real estate (10.08 percent), healthcare (7 percent) and software, tech, and information technology (6.96 percent).
Other sectors that are looking into outsourcing roles include construction and renovation, e-commerce, education, advertising and public relations, retail, hardware, tech, and IT, transportation, manufacturing, food and beverage, recruiting and staffing, legal, entertainment, energy, hospitality, telecommunications, travel, media and publishing, non-profit organization, pharmaceutical, government, public utilities and game development and support.
The IT and Business Process Association of the Philippines is targeting to hit USD59 billion in revenues by 2028.