When it comes to the BPO industry in the Philippines, the biggest players are still dominantly American companies. But because of the current downturn of events in the US, American investors lessen and revenues saw a rapid decrease.
Also, last May 4th, newly elected president Pres. Barack Obama stated that it will strenghten intra-business atmosphere and will do things to increase employment in his own country. He said he aims to save about $210 billion in the next ten years for the American people and generate more jobs for hs people by ending tax breaks to companies and firms extending their arms overseas.
These companies who extend their arms abroad, went mostly to Asia because of the lower cost of competitive labor. These companies, especially those in the outsourcing sector are seeking cheaper, faster and better ways to earn and the Asian workforce is the perfect for them.
Because of the new president's statements, outsourcing firms in the US are now on halt extending overseas especially in the Philippines. Seeing this, the Philippines is now targeting European investors who are still open in extending their firms to Asia and to the country.
In the last four years, European firms increased their outsourcing demands to tremendous rate and this is what the Philippines is targeting to get showered with. UK, Germany and France are the biggest contributors to Europe's outsourcing demand and Philippine delegates are currently on talk with these countries' companies to invest in the Philippines.
