The Philippines is a newly industrialized country fast becoming a regional and global hub for shared corporate backroom operations and hiring high-quality personnel at a reasonable cost. Its service-sector economy boasts of one of the most vibrant outsourcing industries in Asia, serving Fortune 500 companies. This growth is attributed to the many benefits offered by these islands, Philippines key advantages for virtual assistant services are the following:
- Skilled Workers
- Language Advantage
- Shared Lifestyle
- Low Cost of Doing Business
- Availability
- Location
Skilled Workers
The country shares a language and legal system with the U.S., and offer high skills and low costs. The Philippines is ranked #1 in the availability of knowledge-based jobs and workers worldwide, and ranked 4th among Asian nations in terms of labor quality, according to a survey conducted by the U.S. based Meta Group. The Philippines is the third largest English-speaking country in the world with a huge, productive, trainable and multi-skilled labor force. The country is dedicating $10 million for new trainees in the outsourcing industry and produces a selection of English- and IT-proficient business, accounting, HRM and engineering graduates who are skilled in customer service orientation and possess a superior work ethic, high degree of trainability, flexibility, multicultural adaptability, and loyalty.
Language Advantage
More than 180 languages and dialects are spoken in the Philippines, with Filipino and English both serving as official languages. Many Filipinos understand, write and speak English. English is used in education, churches, religious affairs, print and broadcast media and business and is the preferred medium for textbooks and instruction. Residents of the Philippines have an average literacy rate of 92.5% and English is the sole language of the law courts.
Shared Lifestyle
The Philippines ranks third - next only to Australia and the U.S. – for its cultural compatibility with expatriates, housing, sporting and recreational facilities, quality healthcare, and first-rate educational institutions. There is a wide influence of American pop cultural trends, such as the love of American television programs, fast-food, movies and sports like basketball and billiards.
Low cost of doing business
Wages are typically less than a fifth of that in the U.S. and communication, electricity and housing costs are 50% lower compared to the U.S. Companies that are now outsourcing programming and business processes to the Philippines estimate 30 to 40% business cost savings, 15 to 30% call center services, and 35 to 50% application systems and software development.
Availability
The Philippines offers state-of-the-art telecommunications facilities, and adequate and uninterrupted power supply. There are ready-to-occupy office and production facilities, computer security and building monitoring systems, as well as complete office services in specialized IT zones available to service customers 24/7.
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