I read a post in Singapore eFinancial Careers about Singaporeans and people from Hong Kong (http://news.efinancialcareers.sg/formhandler.cfm#viewAllComments) 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.
Showing posts with label outsourcing. Show all posts
Showing posts with label outsourcing. Show all posts
Sunday, February 8, 2009
The Bubble Story
I once have read something about the bubble story. I can't remember when or who wrote that but all I can remember is that, when a bubble is pressed on one of its side, the other part would enlarge. With that in mind, I was thinking of the world today as a bubble. The financial crunch have weighed down the west part of the bubble makes me wonder if the east part would enlarge?
Thousands of jobs have been lost since the start of the financial crisis. You can read it anywhere. And I've read some articles that some of these "lost jobs" in the west are flying to the east. And they're eyeing for the Philippines. In order to cut cost, giants are going to operate in the Philippines where talents and business operation is cheap. Business activities would soon fuel the economy. Entrepreneurs will have new vision for opportunities. Seems like there is really a bubble story happening right now. Somehow, the crisis have brought blessings to the small players in this big world. Maybe its time for us to take this chance to help ourselves.
Thousands of jobs have been lost since the start of the financial crisis. You can read it anywhere. And I've read some articles that some of these "lost jobs" in the west are flying to the east. And they're eyeing for the Philippines. In order to cut cost, giants are going to operate in the Philippines where talents and business operation is cheap. Business activities would soon fuel the economy. Entrepreneurs will have new vision for opportunities. Seems like there is really a bubble story happening right now. Somehow, the crisis have brought blessings to the small players in this big world. Maybe its time for us to take this chance to help ourselves.
Monday, February 2, 2009
Philippines On Geo Arbitrage
"RP a cheap place to live, but purchasing power low" This was a headline on Philippine Star on their last year issue. What does it tell us? Is it an advantage or a disadvantage?
Philippines being a cheap place to live is certainly an advantage for us Filipinos but with a catch like "low purchasing power" puts the advantage at par with the disadvantage (sad to say).
But are we going to be just sad on that news? No, not necessarily because it is something that we have full control. A news like "Philippines is an expensive place to live" will really give us trouble because this situation is peg on the entire economy on which we have no control whatsoever being a nobody isn't it? Good thing "low purchasing power" is in our hands :) Do you know what this news means? This is an opportunity for people who are smart enough to recognize our now borderless world.
We are now on the 21st century and things have really changed since 2000. One of the best gifts this period has given us is the world wide web. And with the ongoing global financial crisis there's a big possibility that more and more companies overseas will resort to outsourcing talents to save on cost thus, keeping their businesses alive. Companies are getting smarter to look for cheaper labor to do the same work quality they need. What does it have to do with our purchasing power?
With the internet, you can choose to earn dollars or euros and spend in pesos without having to leave Philippines. That would be a huge surplus with the existing dollar exchange rate. This is like having a forex business without you being aware of it ;) Sounds perfect? Yes, you can earn dollars too. And the good news is, this opportunity is open to everybody as long as you have a computer and easy access on the internet. We can find a lot of freelance work in the internet that are paying in dollars. (elance.com, getafreelancer.com
As for entrepreneurs at heart. Business is getting easier with the advent of the internet. You can even be in a business without a product. Amazing eh? Yes, you can by being an infopreneur where you sell your knowledge and expertise thru blog. When you have something to say that is of value, you can market it in the net and find readers that will appreciate your work and build your traffic. This requires a lot of link building efforts. And when you have traffic and regular readers, monetization can follow. Though this one requires a lot of work but it can really be done if you're determined. The best part is, you can earn passive income from this as long as you keep on updating your work and always have first hand information on the trend. Remain observant and updated and you won't get lost. You can even use other people's time and expertise in your freelance job. Once you have established your name and have regular clients, it's time to expand it into outsourcing business. Cool isn't it? :)
With these things available today, it is becoming more easy to earn money as you can find a way to monetize your talent and skills not just in your place but around the world. All you have to do is to keep on learning. And if you love travelling and lazying in an island, you can now imagine what this means ;) The world is getting better in that aspect. It is less restrictive and more accepting but very fast and you can always anticipate and hope for the best.
In our time today, information is king. And when you have the ability to make use of that information, you will always be at an advantage as you will be able to make yourself in pace with the changing time.
Philippines being a cheap place to live is certainly an advantage for us Filipinos but with a catch like "low purchasing power" puts the advantage at par with the disadvantage (sad to say).
But are we going to be just sad on that news? No, not necessarily because it is something that we have full control. A news like "Philippines is an expensive place to live" will really give us trouble because this situation is peg on the entire economy on which we have no control whatsoever being a nobody isn't it? Good thing "low purchasing power" is in our hands :) Do you know what this news means? This is an opportunity for people who are smart enough to recognize our now borderless world.
We are now on the 21st century and things have really changed since 2000. One of the best gifts this period has given us is the world wide web. And with the ongoing global financial crisis there's a big possibility that more and more companies overseas will resort to outsourcing talents to save on cost thus, keeping their businesses alive. Companies are getting smarter to look for cheaper labor to do the same work quality they need. What does it have to do with our purchasing power?
With the internet, you can choose to earn dollars or euros and spend in pesos without having to leave Philippines. That would be a huge surplus with the existing dollar exchange rate. This is like having a forex business without you being aware of it ;) Sounds perfect? Yes, you can earn dollars too. And the good news is, this opportunity is open to everybody as long as you have a computer and easy access on the internet. We can find a lot of freelance work in the internet that are paying in dollars. (elance.com, getafreelancer.com
As for entrepreneurs at heart. Business is getting easier with the advent of the internet. You can even be in a business without a product. Amazing eh? Yes, you can by being an infopreneur where you sell your knowledge and expertise thru blog. When you have something to say that is of value, you can market it in the net and find readers that will appreciate your work and build your traffic. This requires a lot of link building efforts. And when you have traffic and regular readers, monetization can follow. Though this one requires a lot of work but it can really be done if you're determined. The best part is, you can earn passive income from this as long as you keep on updating your work and always have first hand information on the trend. Remain observant and updated and you won't get lost. You can even use other people's time and expertise in your freelance job. Once you have established your name and have regular clients, it's time to expand it into outsourcing business. Cool isn't it? :)
With these things available today, it is becoming more easy to earn money as you can find a way to monetize your talent and skills not just in your place but around the world. All you have to do is to keep on learning. And if you love travelling and lazying in an island, you can now imagine what this means ;) The world is getting better in that aspect. It is less restrictive and more accepting but very fast and you can always anticipate and hope for the best.
In our time today, information is king. And when you have the ability to make use of that information, you will always be at an advantage as you will be able to make yourself in pace with the changing time.
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