Effects of Global Recession in the Call Center Industry

The call center industry is considered today as one of the largest industries in the Philippines. However, other than its continuous success both in the Philippine and global market, the industry had also faced its many trials when global recession had hit the Philippine economy.

Effects of Global Recession in the Call Center Industry
According to industry experts, it was global recession that caused the call center industry of the Philippines to fall from the market. It caused a lot of problems not only to the industry itself, but also to the economy of the Philippines, which also caused a widespread unemployment due to the many call center agencies and companies closing down.

However, there are also a number of call center companies and agencies in the Philippines that survived global recession. One of those was Magellan Call Center, which is considered today as one of leading provider of small business answer service in the Philippines.

Cause of the Industry’s Downturn
The cause why the call center industry had been devastated by global recession is because most call center companies and agencies in the Philippines were established for the sole purpose of providing Live Answering Service to foreign investors, mostly coming from the US.

Because the US was heavily affected by global recession, and that the majority of revenues of the industry come from their foreign investors, many of the industry’s foreign clients had decided to pull back their investments to save it from bankruptcy, which led to many call center companies in the Philippines to close down.

Today’s Call Center Industry
Today, the call center industry of the Philippines had already picked up its pace in the market, particularly now that many foreign investors had returned in the Philippines to outsource their call center service or to start their own call center businesses in the Philippines.

Many of those that survived global recession, such as Magellan Call Center and their Small Business Answering service, are now considered as some of the largest and most successful call center companies in the Philippines.