Krebsbach, Karen
June 2005
Bank Technology News;Jun2005, Vol. 18 Issue 6, p38
Trade Publication
This article reports that the Philippines is becoming a global hub for outsourcing for the U.S. banks and credit card companies. According to Eugene Reyes, trade representative at the Philippines Trade and Investment Center at the Philippines Consulate in New York, the Asian nation has made great strides politically and economically in the last five years in remaking itself as an attractive alternative to outsourcing powerhouse India. Though few firms did outsourcing there in 2000, today the industry provides 80,000 direct jobs and more than 100, 000 ancillary jobs, and supports 250 multinational companies.


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