Sunday, February 8, 2009

Will You Pack Your Bags For The Philippines?

I read a post in Singapore eFinancial Careers about Singaporeans and people from Hong Kong ( working in finance losing jobs in their country with the ongoing financial crisis to pack their bags for the Philippines. I was somehow realizing that jobs from the west will soon come in the Philippines. In order for the financial institutions in US to save on cost and save their business they will probably operate their business and go on outsourcing from the call center hub Philippines and this time in finance and accounting where business and talent is cheap.

Big financial institutions are hiring financial professionals to work in the country. This may be great for the professionals for our neighbors in Singapore and Hong Kong but also great for the locals who may benefit of the expanding business and greater opportunities. As Filipinos have done good in call center industry there would be no reason that they can't do it in the financial industry. Many Filipino talents are already at par with the rest of the world in the financial industry. The Philippine financial market may not be that complex in bigger and richer countries but given the same set of brains and hard work there can be no reason that Filipinos can't do well in Wall Street.

As for our neighbors whose considering our country, welcome! :) We also have a lot to offer. Salary may be lower in here but luxuries are cheaper and very cheap to live an average life. Philippines is still a work in progress. And with business activity growing and relocating of giant companies in here will surely help to improve Philippines.

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