1、PHILIPPINES REPORT 2024STATE OF THE SHAREDSERVICES AND OUTSOURCINGINDUSTRYSTATE OF THE SHARED SERVICES AND OUTSOURCING INDUSTRY:PHILIPPINES REPORT 2024INTRODUCTIONPhilippines&The BPO Industry The Philippines is only predicted to grow as a leader in the BPO sector,with a 7%projected growth for 2024.T

2、his would raise the countrys revenue from$37.4 billion to$37.87 billion.Beyond contributing massively to the countrys economy,the BPO industrygenerates many job opportunities.In fact,the Information Technology-Business ProcessManagement Association of the Philippines(IBPAP)expects an additional 1.1

3、millionBPO employees between 2022 and 2028.The island country is an attractive location for BPO centers partly due to the Filipinogovernment facilitating the industrys growth through hybrid work policies.The countryboasts financing programs and schemes to assist smaller-scale businesses.Thisfavorabl

4、e governance landscape then prompts foreign investment,which allows thesector to grow further.Beyond government initiatives,the Philippines possesses a high-quality talent pool and a strong infrastructure,which this report will explore.1The Philippines has firmly established itself within the shared

5、 services industry as a keybusiness process outsourcing(BPO)location.Data collected by SSON Research&Analytics reveals that of the 746 recorded Filipino shared service centers(SSCs),over52%are BPO centers(390).The Shared Services&BPO Atlas ranks the country secondfor the number of BPO centers,only b

6、ehind India(571).Interestingly,despite thePhilippines being approximately 33 times smaller,at almost 116,000 square miles,thanthe United States(3,800,000 square miles)and possessing just under 35%of itspopulation,the two countries have a virtually identical amount of BPO centers,as the UShas 383.STA