Philippines is world's second top globalization destination: index

Arianne Merez, ABS-CBN News

Posted at Oct 20 2018 12:05 PM

Business process outsourcing is an economic lifeline in the Philippines with over 1.15 million Filipinos working in the industry. File photo

MANILA - The Philippines is the second top globalization destination in the world this year, according to global strategic advisory firm Tholons. 

The 2018 Services Globalization Index saw the Philippines rising to the second spot of the "Top 50 Digital Nations" after placing third last year. 

India continues to dominate the list while Brazil follows the Philippines at third place.

Other countries in the top 10 are the United States, Mexico, Canada, Russia, Vietnam, Colombia, and South Africa.

"Most of the services will get commoditized for the biggest leaders in services globalization like US, UK, Canada, Europe, India, Philippines, East Europe, and Latin America," the index report stated.

Business process outsourcing is an economic lifeline in the Philippines with over 1.15 million Filipinos working in the industry.

The industry, along with remittances from overseas workers, remains one of the top 2 earners of foreign exchange for the Philippines.

SUPER CITIES

Six cities from the Philippines, meanwhile, made it to the "Top 100 Super Cities," with Manila placing second to Bengaluru in India. 

The Philippine capital, which ranked fourth in 2017, is followed by the Indian city of Mumbai, which ranked third.

The rest of the Philippine cities included in the list all saw an improvement in their respective rankings.

Close to the top 10 is Cebu City, which ranked 11th from 12th last year, while President Rodrigo Duterte's hometown Davao City went 10 notches higher to the 75th spot from 85th last year.

Santa Rosa City in Laguna rose to the 87th spot from 100th last year while Bacolod City climbed to the 89th spot from 97th in 2017.

The Visayan city of Iloilo, meanwhile, is a newcomer to the list, landing at the 92nd spot.

The index evaluates and ranks countries and cities based on availability and quality of talent in the area, business catalyst or the level of industry-related activity and organizational support, cost of doing business, infrastructure, innovation, and risk and quality of life among others.