WHY THE PHILIPPINES

Population: 114 million people, 25years old median age (2024).

Labor force: 49M and 60% are into services.

GDP: $471 billion, making it one of the largest economies in Southeast Asia (2024).

Cost of Living Index: 36.0 which is 55.5% lower than the US.

Official Languages: Filipino and English are the official languages of the Philippines.

Currency: Philippine Peso (PHP).

The Philippines, with a population exceeding 110 million, boasts a robust economy with a GDP growth 5.6% growth (2023) higher than major economies in Asia. Its strategic location, spanning over 7,000 islands, provides a diverse landscape for business and cultural exchange. With a highly educated workforce, proficiency in English, and a thriving BPO industry, the Philippines offers compelling advantages for building an offshore team. The government's support, coupled with the country's tech-savvy population and cultural affinity with Western nations, make it an ideal destination for startups and businesses looking to leverage offshore talent for sustainable growth and success.

  1. English Proficiency: The Philippines ranks 27th out of 100 countries in the EF English Proficiency Index, indicating a high level of English proficiency among its population. This makes communication easier for startups outsourcing talent in the country.

  2. Young Workforce: The median age in the Philippines is 25.7 years old, indicating a young and dynamic workforce that is adept at adopting new technologies and adapting to changing work environments.

  3. Large Talent Pool: With a population of over 110 million people, the Philippines offers a large talent pool across various industries, including IT, customer service, digital marketing, and more.

  4. Thriving BPO Industry: The Philippines is one of the world's top destinations for Business Process Outsourcing (BPO) services, with a thriving industry that employs millions of Filipinos in call centers, IT outsourcing, and back-office operations.

  5. Educational Attainment: The Philippines boasts a high literacy rate of over 97%, with a significant portion of the population completing tertiary education. Many universities in the Philippines offer courses in IT, engineering, business, and other relevant fields.

  6. Cost-Competitive Labor: Labor costs in the Philippines are lower compared to many Western countries, making it an attractive destination for startups looking to outsource talent without compromising on quality.

  7. Strong Cultural Affinity: The Philippines shares cultural similarities with Western countries, particularly the United States, due to its history of colonization. This cultural affinity facilitates seamless collaboration and communication between Filipino talent and international clients.

  8. Tech-Savvy Population: The Philippines has a high internet penetration rate, with over 73 million internet users as of 2021. Additionally, Filipinos are known for their proficiency in using digital tools and platforms, making them well-suited for remote work and virtual collaboration.

  9. Government Support for Outsourcing: The Philippine government actively supports the outsourcing industry through incentives, infrastructure development, and policies aimed at promoting investment and job creation.

  10. Time Zone Advantage: The Philippines is in a favorable time zone for many Western countries, such as the United States and Europe. This allows for overlapping working hours and real-time collaboration between offshore teams and clients.