The Philippines was ranked 50th out of 63 countries in the 2018 World Competitiveness Yearbook (WCY), falling nine points from last year’s ranking. The WCY is published by the International Institute of Management Development with the Manila-based Asian Institute of Management as a partner in the Philippines. Trade and Industry Secretary Ramon Lopez expressed disbelief about the country’s poor performance in the ranking, especially on economic growth, infrastructure growth and business efficiencies. He said the Philippines has one of the fastest economic growth rates in the world, and infrastructure improvements have been ongoing. The WCY claims that the Philippines’ Economic Performance ranking dropped from 26th in 2017 to 50th in 2018. Among the sub-categories listed under “Economic Performance”, “Domestic Economy” allegedly had declined from 12th to 24th, “International Trade” from 44th to 52nd, “Employment” from 4th to 32nd, and “International Investment” from 47th to 48th. Only the “Prices” sub-category had improved, up from 52nd to 45th.
Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)
The #1 outsourcing authority
Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.
The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.
About Derek Gallimore
Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.
Outsource Accelerator In The MediaSee all media mentions
- Outsourcing industry “absolutely booming”
- Outsourcing industry recovery could be starting, survey indicates
- Doom or boom faces the IT-BPM industry (part 2)
- Bright future for outsourcing
- The Chinese Antidote to a Covid-battered Philippines
- The Philippine IT BPM Industry: Your Tool for Business Recovery and Continuity
- BPO industry in Philippines seen benefitting as firms abroad cut costs due to pandemic