These are the same reasons why foreign investors choose to stay in the Philippines.
For the past years, the Philippines has been sitting on the leading ranks of the most preferred outsourcing destinations of foreign business owners. Why? It is because of the following benefits that their companies can enjoy:
- Cost-efficiency. The daily minimum wage in the Philippines is just around $9 or £6.45 per day. It also has a low Consumer Price Index (CPI) for food, transportation, and utilities in comparison to other Asian countries.
- Highly-skilled workforce. The Philippine labor force welcomes approximately 500, 000 college graduates yearly. Filipinos also have a high literacy rate of 97.5% according to a 2010 national census of the National Statistics Office.
- English proficiency. In the Philippines, English is used as the primary medium for instruction in the education sector and the primary language used in the business sector. This enabled the Filipinos to be highly proficient in using the English Language.
- Strong government support. With the BPO sector being a strong contributor to the Gross Domestic Product (GDP) growth of the country, the Philippine government has become very supportive of it. This is why foreign businesses are able to enjoy various tax incentives.
Despite these aforementioned benefits, a lot of investors from various parts of the world such as the United Kingdom, Australia, and United States are still complaining about staying in the Philippines primarily because they are unable to fulfill their original vacation plans in the country. According to them, here’s what’s happening:
- They eat more than they should. With the wide variety of scrumptious dishes such as the famous chicken or pork adobo and lechon to select from, foreign investors often complain how they always gain weight during their stay in the Philippines. Besides these dishes, they are also challenged to give exotic delicacies such as balut and isaw a shot, with Filipinos often joking that they cannot leave the country without trying them.
- They rest more than they should. One of the greatest assets of the Philippines is its 7, 000 islands that are known for their white sand and clear waters. Besides the ever-popular Boracay in Aklan, other famous Philippine islands include El Nido in Palawan and Caramoan in Camarines Sur. With the marvel of these islands and the hospitality of Filipinos, foreign business owners complain how they can’t help but to relax more and extend their stay.
- They enjoy more than they should. One of our startup clients has shared with us that he and his partners have spent more than they should because of the awesome nightlife in the Philippines. With the wide array of pubs, bars, parties, cinemas, and restaurants to go to in the Philippines, they were able to relax and get the much-deserved fun they need.
- They socialize more than they should. Filipinos are known for their warmth and hospitality. They have always been welcoming to foreigners and always offer a helping hand to those in need. They can converse well with foreigners because of their proficiency in using the English language and ability to somewhat have a similar understanding with them given that they are rich with Southeast Asian and Western influences. As a result, business owners often lose track of time when talking to Filipinos.
Based on the testimonies of our foreign clients, these are the reasons why they hate staying in the Philippines. Ironically, these are the same reasons why they choose to stay and come back to the country.
How about you? Why do you “hate” staying in the Philippines? Comment them below!