The Philippines is one of the best outsourcing destination in Asia, this is the most cost-effective outsourcing destination, this is base to the leading real estate advisory firm CB Richard Ellis or CBRE Philippines stated in a recent interview. The CBRE compared 15 business districts across Asia sch as Tokyo, Hongkong, Singapore, Mumbai, Beijing, Seoul, Shanghai, Taipei, Ho Chi Minh, Hanoi, Kuala Lumpur, Guangzhou, Bangkok, Manila and Jakarta.
The Philippines ranked as the second cheapest with lease rates at US$19.1 psf/annum, next to Jakarta’s US$ 16.3. In 2011, this is despite increasing office lease rates in Metro Manila and declining vacancy rates. The Philippines has one of the highest office rental yields in Asia at 10 percent for the third quarter of 2011 ranking as second to India’s 11 percent.
In Metro Manila, the existing Business Process Outsourcing office supply has reached about 3.6 million square meters of leasable area with Makati as the biggest office space provider with a supply of almost 1 million square meters, then Quezon City about 784,308 square meters, followed by Taguig City of almost 499,464 square meters, then followed by Pasig City about 440,588 square meters, Mandaluyong City ranging 326,972 square meters, Pasay City about 259,494 square meters and Muntinlupa abut 209,823 square meters.
By the study of the Business Processing Association of the Philippines or BPAP, in the Business Process Outsourcing industry is expected to hit US$11 billion in revenues for 2011. The 20 percent increase from 2010’s revenue of US$8.9 billion. In 2010, the projected employees is 525,000 and in 2011 are 640,000.
The Philippines is one of the most-cost effective real estate markets in Asia, this is said by the CEO of CBRE Philippines Rick Santos. For example, it is significantly less expensive than HongKong and Singapore which is around 12 times more expensive. This is why the demand in office services sector in terms of Business Process Outsourcing and Knowledge Process Outsourcing growth has been growing in the country. In Manila, this year’s projected take up of office space, it is anywhere between 330,000 and 360,000 square meters of a new takeup, this is quite large when compared to Singapore’s 150,000 square meters a year. In the Philippines real estate market, they see continued expansionary demand from multinational companies as there is good value.
The outsourcing in the Philippines is very wide. People take advantage to work on outsourcing companies, this is the best nowadays. Some people did not know the word outsourcing, outsourcing is an arrangement in which one company provides services for another company that could also be. It is usually have been provided in-house, this is also a trend that is becoming more common in Information Technology. The Business Process Outsourcing is the best way to solve the problems and other things that needs to improve.
Outsourcing makes the industry stable, most of the countries outsource in different places wherein they outsource their products and present their products. It helps also to communicating to your love ones and this is also a one way to ask for some very important matter which things can be more faster and better.
REFERENCE:
http://www.abs-cbnnews.com/business/11/09/11/ph-best-outsourcing-destination-asia-cbre
http://inagist.com/ABSCBNNews/134189870561239040/
http://www.cbre.com.ph/news-center.aspx?Id=61
