According to an article in Business Week, the Philippines is on target to grow its outsourcing revenues to $13 billion, and provide jobs for 650,000, by the end of 2010. So, what exactly are the advantages of outsourcing to the Philippines that have made it a first choice outsourcing solution for businesses from around the world?

- Language

First and foremost is the ability to speak English well and have no foreign sounding accent. To most businesses, this is the greatest advantage when outsourcing to the Philippines. In fact, India may have lost around 100,000 call center jobs to the Philippines due to its "high-quality voice skills" and status as the third-largest English-speaking nation in the world.

- A High Level of Literacy and Education

The Philippine government recognizes the importance of education and this is evident in the high 92.6 percent literacy rate (per CIA figures). The Philippines also produces over half a million college graduates every year. This means that there is a significant pool of highly educated and talented professionals for businesses to choose from.

- Available Skills Match Industry Needs

About a quarter of Filipino graduates are specifically qualified for business-related jobs like accounting and marketing. And, many of these professionals have had extra customer service training. This precisely matches the needs of many U.S. businesses.

- Lower Costs

Outsourcing to the Philippines can save a company as much as 30-40% in operational expenses. This is a huge amount for small and medium-sized companies especially. Here is something worth taking note of - the minimum wage rate in the U.S. is about $8 per hour; in the Philippines it is $8 a day!

- Good Work Attitudes

Countries give high preference to Filipino workers because they are honest, well disciplined, and hard working. Many countries hiring delegations to the Philippines on a regular basis to select workers for their local businesses. This shows that Filipinos are not only hard-working, but that they are trustworthy and can also be relied on to produce results in the business.