Investment prospects in the Philippines for business-minded folks continue to exist and evolve in spite of the country's political and socio-economic woes. What are some of these money-making opportunities?
Booming niche markets for potential investors
- Business Process Outsourcing (BPO)
Thanks to the advent of internet communications technology (ICT), BPO capitalists sowed the Philippine business landscape with call/contact centers, medical transcription firms, and computer animation companies. Current BPO enterprises are also involved in software development, human resource management functions, accountancy, online content writing, website development, and graphic designing, among others.
Based on a 1985 study by Rene Soriano, university professor Jorge Sibal, in his "Strengthening Offshoring in the Philippines: Issues and Concerns" (2006), notes that the move or establishment of these operations in the country "was to minimize production cost and maximize profits. Salaries in developing countries are 50% to 80% less than in the US."
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