BPO services remain a key driver of economic growth for the Philippines, despite the global economic downturn.

"We continue to be able to attract a lot of investors to the Philippines primarily because of the advantages that we have in the Philippines, related to cost structure as well as the talent availability," said Oscar Sanez, CEO of Business Processing Association of the Philippines. Global outsourcer Convergys believes the Philippines could overtake India as the world's leading offshoring destination in the next few years.

"We, Filipinos, are very fortunate to have a leadership in an industry that we can claim as our own. The contact center industry is the only industry in the world where the Philippines can say that, indeed, we are the leader," said Convergys country manager Marife Zamora. Rival outsourcer TeleTech plans to increase its local workforce to 25,000 by the end of the year. "The local market really aligns well with the culture of our customer base, which is largely North American," said TeleTech Asia CEO Richard Bledsoe.