The Business Process Outsourcing industry in the Philippines contributes significantly to the economic growth of the country. It generates nearly $25 billion as revenue, offering employment to about 1.3 million people.
In the last fifteen years, the BPO industry has turned into a major source of income for the Filipino population. Numerous foreign companies have proliferated into the country for outsourcing various kinds of processes. This has helped minimize the need for locals to go overseas and look for high-paying jobs. The result is an expansion of the Philippines’ middle class.
The BPO industry has been successful in creating a financially stable middle class. They now have greater purchasing power which is evident from the hike in auto and property sales in the country. Last year, there was a 24.5 percent hike in auto sales in the Philippines even when neighboring nations like Malaysia were experiencing a drop in auto sales in their economy.
You will find several thousand success stories of people working in the outsourcing industry in the Philippines. A lot of these people are from the rural areas and are now employed as call center agents in the main city. They have been able to purchase properties and construct homes for their loved ones.