Many countries are now starting to develop their ITES and business process outsourcing (BPO) industries. The market leaders in supplying services at present are India and Canada. However, 2003 witnessed significant growth in services exports in other developing countries such as China, Russia, and the Philippines.
The rapidly globalizing economy has opened a huge door of opportunity for the Philippines in the form of outsourcing. The once laid-back country when it comes to technology is now fast becoming technology-driven and competing side by side with other Asian giants and to the rest of the world. Transactions and money have been pouring into the country like never before and prospects currently look very promising as more and more businesses all over the world embrace the concept of turning over non-core businesses to be more competitive.
Thanks to its strategic location, rich pool of qualified English-speaking professionals, low cost of labor, availability of good telecommunications infrastructure, and boom in e-services, the Philippines is now one of the biggest and bankable names in the business process outsourcing market, particularly in the customer service arena. In fact, the Philippines was voted by IT Executives around the world as one of the Top Four (4) Leaders in the Offshore Outsourcing Market in 2005. The Philippine ITES industry is now a key Service Sector, fuelling investments and new job creation. Anchoring the Philippine economy�s growth, the ITES industry has become one of the country�s sunrise industries.
Indeed, the ITES industry has an opportunity to play a profound role in the Philippine�s economic development directly and indirectly through spillovers. However, with competition on both ends (India and China), the industry needs a very comprehensive strategic mindset and strategy in upgrading its capabilities. To sustain its competitive advantage in the global market, there is a need for the Philippines to develop a group of firms that are strong both in internal capabilities and their external linkages.
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