The BPO industry in the Philippines has seen a 40% dramatic year on year increase since 2004 and even grew by 20% in 2009 despite the global financial crisis. It is now the 2nd largest offshore destination trailing India. Several companies that offshore/outsource work in the Philippines are Fortune 100 companies across different industries i.e. banking and finance, energy services, consumer goods and electronics, insurance, and market research. Metro Manila has majority of the locations but more and more cities outside of Manila are emerging.
The Philippines has been awarded as Offshoring Destination of the Year for 2007,2009 and 2010 by the UK National Outsourcing Council.
Key factors that have made it ideal include: