By Beatriz Marie D. Cruz, A reporter
PHILIPPINES tops world for foreign talent, wins points for strong English professionalfiand competitive labor costs, according to Ataraxis, a US recruitment platform.
The company’s Global Outsourcing Talent Index, which surveyed 193 countries, ranked the Philippines as a “top sourcing hub” and described the country as “the most attractive location for companies to hire remote talent from around the world.”
Rounding out the top ten were Malaysia, India, Chile, South Africa, Nigeria, Peru, Indonesia, Argentina, and Romania.
The index examines countries across the board fiand key factors influencing global employment: labor costs (52.5%), English proficiency (20%), talent availability (17.5%), digital infrastructure (5%), and business, legal, and political stability (5%).
According to the report, the Philippines received 96 in labor costs; 90 for knowledge of English; 90 talent depth; and 70 digital infrastructure. Its lowest rating (60) was for business stability, where it was described as “moderate risk.”
Jack Madrid, president and CEO of the IT & Business Process Association of the Philippines, said the standard represents the industry’s value proposition for global firms.
“The talent base of the Philippines’ 1.9 million digital workers, proven worldwide, indicates that the country can support both complex and sophisticated work, making it an attractive destination for companies looking to expand or diversify their operations,” he said in an email.
To maintain its position, the industry must focus on developing capabilities to move up the value chain of information technology-business process management.
“This requires continued investment and strong communication between government and industry to keep policies, education, and training in line with global demand,” said Mr.
Meanwhile, the Philippines’ low stability score reflects concerns about policy inflexibility and exposure to external shocks, according to Philippine Institute for Development Studies Senior Research Associate John Paolo R. Rivera.
“The government needs to strengthen policy predictability and regulatory clarity as investors value stable regulations, speedy approvals, and less bureaucratic friction,” he said of Viber.
Mr. Rivera also highlighted the need to improve energy reliability, internet, transportation infrastructure, and cybersecurity.
Managing inflation, a stable currency, and a credible monetary policy can also help reduce perceived risks, he said.
“Strengthening governance and ease of doing business, including contract compliance and institutional coordination, can greatly improve investor confidence and increase the stability of the country’s business,” said Mr. Rivera.
