Research firm Everest and the Business Processing Association of the Philippines (BPAP) said the Philippines will likely overtake India as the world’s capital for voice-based work.
This year, the Philippine BPO industry will post voice-based revenues that will reach almost $5.70 billion. This is higher compared to India’s $5.58 billion. Also, companies like Cisco, HSBC, and BT PLC outsource voice-based work to the Philippines and establish an alternate support hub to avoid the impact of high staff turnover rate in India. “In standalone voice business, the Philippines will undoubtedly beat India this year to become the call centre capital of the world,” said Nikhil Rajpal, partner, Everest Research India.
Firms choose the Philippines for their call center work because of the country’s better cultural compatibility with the US, higher tax incentives, and the absence of competing industries for skilled workers.
Experts added that if this pace continues, the country can beat India’s BPO industry worth $12.4 billion in five years.