Thanks to its thriving business process outsourcing industry, the Philippines is the second-best globalization destination in the world this year, rising from third spot in a list run by global strategic advisory firm Tholons.
Tholons said the 2018 Services Globalization Index saw the Philippines just behind India in the “Top 50 Digital Nations” with Brazil at third place.
The United States, Mexico, Canada, Russia, Vietnam, Colombia, and South Africa make up the rest of the top 10, Tholons added.
The index evaluates and ranks countries and cities based on availability and quality of talent in the area, business catalyst or the level of industry-related activity and organizational support, cost of doing business, infrastructure, innovation, and risk and quality of life, among others.
Six Philippine cities also made it to the report’s “Top 100 Super Cities,” with Manila rising to second from fourth in 2017.
Two Indian cities—Bengaluru and Mumbai —sandwich the capital city in the top 3. Other Philippine cities on the list are Cebu (11th from 12th in 2017), Davao (75th from 85th), Santa Rosa in Laguna (87th from 100th), Bacolod (89th from 97th), and Iloilo (new to the list at 92nd).
“Most of the services will get commoditized for the biggest leaders in services globalization like US, UK, Canada, Europe, India, Philippines, East Europe, and Latin America,” the index report said, according to ABS-CBN News.
BPO services has propped up the Philippines with over 1.15 million Filipinos working in it. Along with remittances from overseas workers, the sector is one of the top earners of foreign exchange for the country.