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London, October 19, 2007 -- The Philippines was awarded “Best Offshoring Destination of the Year” by the National Outsourcing Association (NOA) of the United Kingdom during its fourth annual award ceremony in London.
According to the NOA "the Philippines is truly developing as a global player in the offshoring marketplace. Its attractiveness as a destination of stems from a combination of important offshoring fundamentals alongside some highly valuable offshoring extras."
The Philippines' ITO/BPO industry has grown from € 1.1 to € 2.6 million over the past three years. Recent studies of the Business Processing Association of the Philippines (BPA/P) expect further increase up to € 9 million by 2010. Key sectors are contact centers, back office operations, animation, engineering design and software development.
Already housing global players such as HSBC, LogicaCMG, Shell and Mysis the Philippines has become increasingly attractive for smaller and medium sized companies. For the NOA judges "the significant improvements in the infrastructure and attractive trade incentives made it a clear winner."
The application was submitted by Team Europe - Promoting the Philippines as the Offshoring and Outsourcing Destination of Choice. Team Europe is an initiative of the Business Processing Association of the Philippines, the European Chamber of Commerce of the Philippines, the British Chamber of Commerce, Board of Investments, Center for International Trade Expositions and Missions, and the European IT-Service Center Foundation.
The NOA is the UK’s only outsourcing trade association. Advocating best practice, the NOA represents outsourcing end users, vendors and other companies which support outsourcing, such as legal firms, consultancies and HR. The NOA is involved in research, events, education and public affairs. Over the last four years, the NOA Awards have become a landmark in the acceptance of outsourcing as a legitimate business practice and recognise the efforts of companies or people who have shown excellence in the field of outsourcing.
About Team Europe
Team Europe - Promoting the Philippines as the Offshoring and Outsourcing Destination of Choice. Team Europe is an initiative of the Business Processing Association of the Philippines, the European Chamber of Commerce of the Philippines, the British Chamber of Commerce, Board of Investments, Center for International Trade Expositions and Missions, and the European IT-Service Center Foundation. It promotes the Philippines especially in Europe to increase the awareness of the Philippine IT/BPO-industry in the European market. Its members also support European companies interested in investing in the Philippines.
