Manila, Philippines (PRWEB) September 20, 2013
The Philippines is up by six places in the Global Competitiveness Report 2013-2014 of the World Economic Forum. From 65th last year, the country rose to 59th out of 148 economies.
According to the Global Competitiveness Report 2013-2014, the trends for the Philippines are positive across most dimensions of the index. The present government’s campaign against corruption has had some visible success and is thought to have significantly improved the outlook for investments in the country.
Philippine ranking in the categories of ethics, corruption, and government efficiency have jumped considerably. The report also noted that the labor market in the Philippines has “become more flexible and efficient over the years.” Specific industries, including the information technology and business process management (IT-BPM), are expected to benefit from these improved ratings.
The World Economic Forum report also cites affordability of financial services in the Philippines as one of the country’s competitive advantages. Data from the Philippine IT-BPM road map 2012–2016 showed that the country remains one of the most cost-competitive locations in the world for IT-BPM services. The Philippines is the number 1 destination for voice-driven IT-BPM services especially in customer relations management and in niche services such as IT help desk services and even game support.
The Philippines is also the second most-preferred for complex non-voice IT-BPM services such as in financial services, business intelligence, health care information management, IT and engineering services, human resource management, and creative processes.
“The country’s improved ranking only validates efforts of the Philippines to sustain its economic growth and continuously maintain its leadership in various sectors, including the IT-BPM industry,” says JosÉ Mari Mercado, president and CEO of the Information Technology and Business Process Association of the Philippines (IBPAP). “To support the IT-BPM industry, IBPAP will continue to work to ensure an enduring supply of high-quality labor, support service innovation, and provide country visibility as well as assist foreign investors and global clients in setting up operations in the Philippines.”
To provide IT-BPM players from all over the world with updates on industry issues and trends, IBPAP is organizing the 5th International Outsourcing Summit (IOS) on October 6 to 8 at the Makati Shangri-La in Metro Manila, Philippines. The IOS is the premier IT-BPM event in the Philippines that features global industry and domain experts, panel discussions with top industry executives from around the region, gala dinners, business-matching sessions, exclusive briefings, “unconferencing” sessions, and a supplier exhibit. This year’s summit will highlight the industry’s emergence as a powerful economic force and an agent of transformation.