The success of Philippines revenue and investor draw is its status among the world’s foremost providers of business process outsourcing (BPO). BPO in this context consists mainly of software development and call centers, which can be cultivated through a country’s investment in education (particularly English language skills).
A Global Nexus
The Philippines has become a global nexus of service activity and has used that business model to develop its economy. For instance, 60% of GDP generated in the Philippines is service sector-related, and this has a direct impact on individual income according to the country’s director of Trade Policy and Strategy. A post on Inquire.net notes that other growing economies like Thailand’s have taken stock of this success and are starting to adopt similar policies.
If other nations wish to emulate the Philippines growth model, they will need to prioritize their resources less on manufacturing, and more on the service sector, with a particular eye toward information management, logistics, call centers, and software development. It’s a telling sign that while much of the Asian economy stalled this year, imports to the Philippines grew.
Read the full article at: http://business.inquirer.net/178532/service-operators-urged-to-follow-philippines-example