Archive for August, 2010

Legal Process Outsourcing Surges in the Philippines

Legal Process Outsourcing (LPO) is one of the fastest growing sectors in the Philippine BPO industry. This is mainly due to the financial difficulties currently experienced by many US, Australia, Canadian and British law firms, as a consequence of shrinking legal budgets. According to research conducted by knowledge process outsourcing firm Evalueserve, the global LPO industry employed over 5,200 professionals in the first quarter of 2010 with India and the Philippines leading the pack with an estimated annual profit of USD 300 million. Legal Offshoring services are expected to employ over 19,000 professionals and post an annual revenue of USD 960 million by December of 2015. Some LPO firms in India have even predicted an annual growth of as much as 200%, citing recession-related litigation in the U.S. However, their expectations have not yet been realized. This is because U.S. lawyers themselves are now looking at alternative options to address the legal recession, and cut down on job losses.

Rising Cost of U.S. Healthcare Boosts Medical Tourism in the Philippines

The Philippines is becoming a prime medical tourism destination for Americans and foreign nationals as healthcare costs in the U.S. and around the world continue to rise. ┬áThe Philippine Department of Tourism reports that the number of overseas patients visiting the Philippines is increasing by as much as 88%, from 60,000 clients in 2007 to 600,000 in 2009. The Philippine Medical Tourism industry has registered a gross revenue of $350 million since it’s establishment in 2006. Furthermore, the DOT expects a $3 billion profit by 2015, with as much as 1,000,000 foreign patients arriving annually.