In the face of record-high unemployment and uncertainty for new graduates who will soon enter the labor force, the Philippine government says that the call center industry poses great opportunities for Filipino workers—especially amid the global crisis when firms turn to outsourcing more to save costs. But is the industry indeed a sunshine sector for Filipinos seeking employment?
First, the country’s business process outsourcing (BPO) sector is closely tied to the US economy, which is facing its worst recession in history. According to a study made by the Bangko Sentral ng Pilipinas, the US was the largest market for IT-enabled services (composed of call centers, medical and legal transcription, animation, software development and other BPOs). The US accounted for 90% of total exports revenue, most of this generated by call centers. The US was also one of the largest sources of foreign investments in call centers, along with Australia and Europe, accounting for over 2/3 of total foreign equity.
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Friday, March 13, 2009
Is the Call Center Industry a Bright Spot for New Graduates?
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