If you’re an expat in the Philippines, you might be able to supplement your income by working in the fast-expanding outsourcing business. As an excellent way to generate an income stream on autopilot, outsourcing is a lucrative business opportunity that can also serve as a fun side hustle or even a productive hobby.
The Philippines, along with India, is a prominent location for outsourcing. It has been known as “The BPO Capital of the World” since 2010. Being a former Spanish and American colony gave them cultural compatibility with more developed countries. Expats in the Philippines are then at an advantage in building their side hustles in the outsourcing field as they have the resources and connections to do so.
With this list of details on the Philippines outsourcing industry for expats, you’ll be prepared to deal with potential employers and officially begin your side hustle journey:
- As an expat, you may already have established resources and connections with your home country who may want to outsource work to a cheaper but high quality labor market.
- Offshore services are well-established in the country, and it’s the largest market for contact center and technical outsourcing.
- Given that everything is accessible online, setting up is straightforward and not that costly and all you need is to reach out to those who have done it before.
- No need to worry about your full-time job as it can be done on a part-time basis
- There are less to no out-of-pocket expenses for you to be worried about.
- Different types of online side hustle that you can provide for your connections in your home country e.g. administrative tasks, customer service, coordination, animation, video editing, voice overs, content writing, digital marketing, reporting and bookkeeping, etc. Although customer service roles (voice and non-voice) and back-office services are the country’s specialties.
- PH is known for quality labor at very affordable costs as compared to rich economies as prices here are about 50%-60% lower. For example, an administrative assistant in the US costs 16 USD per hour, but in the Philippines, they can offer their services ranging from 2-3 USD. Expats can then pitch their services for 8 USD leaving them with an opex of 1-2 USD per hour; an easy way to earn 3-4 USD per seat/head.
In a Payoneer research from 2019, the Philippines was ranked as the world’s sixth-fastest-growing market for the gig economy sector, a.k.a homesourcing (small home based outsourcing outfits of 3-5 seats) with a 35% increase in freelance earnings. They get the benefits of job flexibility, higher pay, and greater autonomy, whether it’s due to the absence of micromanaging bosses or a desire to expand their enterprises. The shift to the new normal has sparked a quick increase in remote work as many businesses continue to view work-from-home homesourcing as a valuable business partner.