Cagayan de Oro City and the IT-BPO Industry
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Why CDO Is the Next IT-BPO Hub in the Philippines
A large number of foreign businesses choose the Philippines as their primary destination for business process outsourcing (BPO). This is not surprising since the country has been a BPO hub way back in the late 1990s.
In the past decade, other Philippine cities outside Manila and the National Capital Region (NCR) have proven to be viable locations for IT-related business process outsourcing. Cebu, Davao, and Cagayan de Oro are among the fastest growing cities in the country outside of NCR. To date, a number of contact centers and digital marketing agencies have started to emerge in these major cities, making significant contributions to the economy.
The IT-BPO Industry in the Philippines
Before we delve further into what makes Cagayan de Oro the next IT hub worth investing in, let us figure out first why the Philippines is such a popular BPO destination. Why are foreign businesses choosing the Philippines as their primary BPO destination?
Here are several key reasons why the IT-BPO industry is thriving in the Philippines:
- Low labor cost – Foreign companies pay less in exchange for high-quality service.
- High literacy rate – Compared to other countries in Asia, the Philippines has one of the highest literacy rates at 97.5 percent, making business and communication a lot easier for foreign companies.
- A highly skilled workforce that has extensive experience – From software developers to SEO specialists, the talent pool is quite deep and vast.
There are plenty of reasons why the Philippines have become one of the top IT-BPO destinations in Asia, but these three (3) are the most common. Now, why should you invest in Cagayan de Oro?
IT-BPO in the City of Golden Friendship
As the IT-BPO industry continues to grow, it’s not surprising to see other major cities tapping into this great revenue resource. In the recent years, Cagayan de Oro has emerged as one of the fastest growing population centers in the country, bringing in all kinds of investors both local and international.
Moreover, CDO has one of the highest employment rates in the country at 94.4 percent, higher than Manila and the national average. This is mostly due to the new businesses that started popping up in the city.
As far as the population is concerned, the city boasts a unique demographic with the average Kagay-anon being young and having sufficient college education. This is perfect for businesses looking to invest in the city and looking for a skilled workforce.
The city is home to a number of call centers and digital marketing agencies that employ some of the most talented and highly skilled workers. IT companies looking to start a business in Cagayan de Oro will definitely find it easy to find the right employees that are competent and highly experienced.
One Providence as the Perfect IT-BPO Business Location
Located in Northern Mindanao, Cagayan de Oro itself is the ideal location for business as it is the gateway to the rest of the huge island. Now, if you do decide to invest here, there are a few locations in the city ideal for putting up your business headquarters. And one of them is One Providence in Lifestyle District, located at the heart of the city.
Why is One Providence the ideal IT business location?
To better understand how prime this location is, you need to get a better picture of the layout of the district.
The Lifestyle District is a commercial and business complex that is located along Corrales Extension, one of the major streets in the city occupied by a wide array of business establishments, from restaurants and convenience stores to motorcycle shops and hotels.
The Lifestyle District itself is home to various restaurants and other businesses. This is where One Providence is located. A 5-minute motorela ride north is the Port of CDO, a few kilometers south is Divisoria, one of the oldest commercial districts in the city.
If you use Google Maps to see exactly where One Providence is located, you can clearly see why it is a prime location for your IT business.
So if you’re thinking of investing or starting a IT or BPO business in Cagayan de Oro, you should consider One Providence as a potential home for your business. The building has great architecture and is primarily designed to cater to IT-BPO businesses.