Effects of Global Recession to the Call Center Industry in the Philippines

Before it attained the highest recognition in the world market, the call center industry had also gone through several economic downturns. And one event that heavily affected the industry was global recession.

The call center industry of the Philippines is today’s largest provider of call center services in the Philippines, marking the Philippines as the call center capital of the world. However, before it attained the highest recognition in the world market, the call center industry had also gone through several economic downturns. And one event that heavily affected the industry was global recession.

Effects of Global Recession to the Call Center Industry in the Philippines

Before Crisis
Before global was already known as one of the largest contributor of call center services in the world market. Because of its massive expansion in the Philippine market due to its diverse collection of Outsource Call Center recession had hit the market, the call center industry services, as well as its lesser expensive operational and labor costs, many foreign investors, particularly from the US, chose the Philippines as their main source for call center services.

Because of this, the industry quickly grew in the world market placing the Philippines as the 2nd largest contributor of professional call center services in the world, from simple call center services such as Order taking services, to business-to-business solutions. However, when global recession had hit the market, the industry was also one of the many which was heavily affected by this crisis.

During Crisis
Because most of the industry’s revenues are coming from foreign investors, majority of which are from the US which was also heavily affected by global recession, the industry faced a major downturn which affected not only the many call center companies and agencies that makes up the whole industry, but also the economic growth of the Philippines.

Because of the many call center companies and agencies that closed down during the crisis, many Filipinos were left unemployed which had also heavily affected the country’s economy. Though there are still a number of call center companies and agencies that stand in the market during global recession, most of these have significantly changed their recruitment process that only hired skillful Filipinos, while others with lesser experience had had a hard time getting the job.

After Crisis
As global recession gradually receded, the call center industry of the Philippines quickly rose up again in the world market due to the number of new and old foreign investors returning to the Philippines. Eventually, the Philippines was recognized as the call center capital of the world due to its massive growth in the world market as well as its continuous evolution to provide the best call center service in the market from simple call center services such as Outsource Call Center, to other popular services. For more information visit to our site http://www.magellancallcenter.com/