I read this article today about IT outsourcing and how it is affected by the war in Ukraine. Ukraine is one of the top, if not the top destination for IT outsourcing, so this is a long-term issue.
The global market for IT services has exploded in line with the overall growth of tech, which has become a $4 trillion dollar industry. Finding the talent to meet the growing demand for technical services is more difficult than ever, which has driven companies to hire IT employees across the globe, outsourcing to countries like the Philippines, India and, increasingly in recent years, Ukraine, Poland, Bulgaria and other Eastern European countries.
There are some key points I would like to point out. First, it is humbling to mention Philippines as one of the preferred and key destinations for outsourcing IT services and software.
Demand for that talent has not slowed: It’s no secret that companies across the board are having difficulty finding the right people.
Demand has not slowed. Made me glad that I am working in this field.
Now almost every company has a base in India or the Philippines, he said, noting that companies like Accenture and IBM have just as many employees in India as Infosys does.
Ahh Accenture and IBM, no thanks.
Pakistan and India are illustrative examples of that. Although the two countries have similar talent pools, “Pakistan has not done as well as India or Philippines has done just because [of] the political uncertainity, the political as well as the terrorism part of it, the security,” he said.
This has been my point before and after the election, the software industry in the Philippines benefits largely from political stability. I just hope for the next 6 years there will be enough stability that won’t affect the IT industry worldwide. Also, the war in Ukraine should hopefully stop.