Effects Of Global Recession To The Call Center Industry Of The Philippines

The call center industry of the Philippines is known today as the leading provider of live answering service to the global market

. It was until recently that the Philippines have finally overtaken India as the call center capital of the world after more than a decade. And many industry experts have said that the industry will remain strong for many years to come.

However, before the call center industry had reached the highest recognition the global market can provide, the industry had also suffered a downfall when Global Recession had with the world, particularly when it affected the US economy which caused the number of call center companies and agencies in the Philippines to drop.

Effects of Global Recession

Before global recession, the call center industry of the Philippines had steadily grown within the country, particularly when new call center services and Business Answering Service were introduced from simple Order taking services and reservation services, to a more business-to-business oriented services.

Due to the continuous growth of the call center industry, the industry had soon entered the global market, in which India was still considered as the leading provider of call center services in the global market. However, because of the varied services that the Philippine call center industry can offer, as well as the skills of Filipinos in using the English language, many foreign investors had decided to outsource their Live Answering Service to companies in the Philippines.

Eventually, the number of foreign investors had grown that the majority of new call center companies in the Philippines were established for the sole purpose of providing their services to foreign investors. This caused a rapid and massive growth of the call center industry of the Philippines until it was placed as the second largest provider of call center services in the world.

However, when Global Recession had hit the world, particularly the US, the call center industry of the Philippines had dramatically declined. This is due to the fact that most its revenues are coming from the US, many call center companies in the Philippines had closed down due to bankruptcy.

It also affected its contribution to combat unemployment, particularly when many call center companies had required their applicants to be extremely fluent and possess above par IT skills.

After Global Recession

Although the signs of global recession are still present, it had slowly receded over the years. Today, the call center industry had grown significantly since before global recession, which is now considered as the leading provider of call center services in the world.

by: Nancy David

POST COMMENT

Review About Hot Tools Straightening Iron Chris Gibson Banish Bad Breath - Get Rid of Bad Breath Permanently Review Mark Freeman Natural Lung Detoxification Review Technological Callaway FT Irons Review Review of A8 pad with Android 2.2 How to Look Good When You Don't Have Much Time or Money Saw 3D Horror Movie Review Buffett's succession plan: Todd Combs joins Berkshire Job Consulting Company Reviews Reviewing The Challenge Ijog Paper Jogger Call Center Industry: Effects In Global Recession A Review Of The Challenge Handy-jog Paper Jogger With Check Tray Reputed Vacuum Cleaner Brands And The Water Purifier