MANILA -- The offshore outsourcing industry loves the Philippines. English is widely used there, the population is generally well-educated and wages are low -- all reasons why the country is a magnet for overseas companies looking to farm out administrative and other tasks.
The booming industry raked in $13.34 billion in the Philippines last year, up 15% on the year, according to the country's central bank. A survey by global outsourcing consultancy Tholons found that Manila has overtaken Mumbai as the world's No. 2 business process outsourcing (BPO) destination. Call centers account for most of the country's outsourcing activity, but the industry is diversifying. New types of startups are popping up to capitalize on the various opportunities arising in this growth sector.