Thanks to the country’s thriving business process outsourcing (BPO) industry, the Philippines has ranked 2nd on the list of world’s top globalization destination for 2018, according to 2018 Services Globalization Index by global strategic advisory firm Tholons.
The country climbed a notch higher from the third spot last year.
India continues to get a foothold in the list while Brazil is behind the Philippines at third place.
Other countries comprising the top 10 are the United States, Mexico, Canada, Russia, Vietnam, Colombia, and South Africa.
Globalization destination refers to the countries where the biggest leaders in the services globalization flocked based on availability and quality of potential employees in the area, business catalyst or the level of industry-related activity and organizational support, cost of doing business, infrastructure, innovation, and risk and quality of life, among others.
Business process outsourcing (BPO) sustained the economic link in the Philippines with over 1.15 million Filipinos currently employed in the industry, and remains as one of the top two earners of foreign exchange in the country.
The index report stated, “most of the services will get commoditized for the biggest leaders in services globalization like US, UK, Canada, Europe, India, Philippines, East Europe, and Latin America.”
Meanwhile, six cities in the Philippines landed in the “Top 100 Super Cities,” with the country’s capital, Manila, placing second from being fourth last year. included in the list are Cebu City (11th), Davao City (75th), Sta. Rosa City in Laguna (87th), Bacolod City (89th), and a newcomer Iloilo City (92nd).
