The Personality of the Successful Entrepreneur
On the 24th of February 2022 Russian president Vladimir Putin launched a full-scale invasion of its neighbour Ukraine which was a full-blown explosion of an already simmering tension that has been brewing for eight years between the two nations. In the words of CBS News, Russian separatists and Ukrainian frontlines have been at war with each other in the regions that are breakaway from Ukraine and Russia, which President Putin declares as independent republics. In the Donbas region is the center of gravity for the ongoing conflict. It is the final resting place to thousands of courageous soldiers who fight to defend their cause. The ferocious clash between resistance and occupation might occur within a 6-200-square mile of territory however the entire world is suffering from the impact. That's the nature of the war.
"To anyone thinking of intervening from the outside In the event that you do you'll be facing worst consequences you've ever faced in the past," says the Russian President in a stark warning to all other nations.
The effects of the conflict between Russia and Ukraine continue to intensify the world's negative effects. The price of oil continues to increase at an unprecedented speed as Russia as the sole oil supplier worldwide capable of competing with those of United Arab Emirates, received prohibitions on imports from several nations. The aim is to decrease dependence not just on Russian oil but also other commodities. In the end, the supply chain of the world is affected. All aspects of financial sanctions, as well as Ukraine's contribution towards the economy globally were impacted. Offshoring is one of those who suffered in the current international conflict.
The War Between Ukraine and Russia Caused Offshoring Disruption
The effects of the war between Russia and Ukraine shown as a zoomed-in map that shows the effects of both countries
Ukraine is one of the top countries for offshoring around the world that focuses on tech and software. Based on DAXX, Ukraine is an outsourcing powerhouse within the European region, claiming the top position on the list of IT development offshoring, with more than 5.57 billion dollars in revenues in 2020. With over 1,600 tech firms and 4,000 IT-related companies that are located in Ukraine, it's among the top in the world and continues to depend on digitalization more and more in the coming years.
It's not difficult to do a bit of analysis to realize the effects of the war between Russia and Ukraine could affect the strength of Ukraine as an offshoring player in development. A lot of able Ukrainian citizens from all kinds of backgrounds take up arms to defend their country and their country, as per the government. This has led to the offshore facilities in Ukraine have seen a drop in support and personnel. Other countries with offshore outsourcing, such as Belarus are also experiencing the impact.
Companies are gradually leaving agreements with offshoring companies in Eastern Europe for continuity, even it's a temporary arrangement. In the end, thousands of offshoring ventures are shifting to other parts of the world amid the Russia-Ukraine tussle. Southeast Asia is among the numerous places that offer the opportunity to businesses who have discounted offshoring initiatives.
The Philippines, Southeast Asia among Areas that are a source of Offshoring Migration
The dominance of Eastern Europe in tech and offshoring IT has been undisputed, particularly with Ukraine being the leader. While businesses look for alternatives, they're looking across the globe to find offshoring partners who share the same enthusiasm to IT and technological development. In the aftermath of Russian-Ukraine conflict have led to the discovery of Southeast Asian offshoring powerhouses making advancements in the field of technology.
The Philippines is already a leading offshoring destination, is one of the numerous Southeast Asian countries capable of managing the change brought on by the conflict between Russia and Ukraine. The advances in IT and technology offshoring in the Philippines is already at levels with the top of the line as well as Ukraine.
A Growing Hub to IT Development
It is believed that the Philippine BPO industry commits itself to research and development in IT and technology development, with a focus on STEM and digitalization. This is why the country that offshoring produces more than 90,000 IT graduates each year. With a large workforce of more than 200,000 people in the IT and technology development field and more, the Philippines is a reliable supplier of offshore services. The top IT services of the Philippines are focused on fintech, healthcare artificial intelligence, robotic process automation.
English Fluency
The Philippines has 92 percent English level of literacy, which is the second position across the Asian continent, and the 27th position for the whole world. With English integrated into every educational curriculum and recognized as a second language The Philippine workforce is able to develop communication skills at a similar level to its Eastern European counterpart.
Cost-efficient Labor
The best advantage of outsourcing to the Philippines is the fact that businesses can reduce expenses by as much as 70 percent. In the Philippines, an average IT annual pay in the country is about 9,900 USD. In comparison to that of the United States' 52,000 USD annual salary and the cost-efficiency of workers in the competitive market is impressive.
Strong Support Service
The benefits of having IT experts and programs are not the only benefit you can get when you offshoring to the Philippines. The majority of offshoring companies provide 24 hours of support in payroll, human resources facilities, IT support.
Conclusion
The effects of the Russian-Ukraine conflict continue to impact the world in a variety of ways. So long as the raging tension continues in place, it will be a challenge for entrepreneurs and business owners to keep seeking out a quality services for offshoring. This is why offshoring destinations like the Philippines along with Southeast Asian offshoring destinations accommodate the largest number of clients to aid in their business operations during the conflict.
iSupport Worldwide is among the leading offshoring companies in the Philippines offering top-quality people and services that help companies develop their IT and development department. If you're looking for an alternative location for offshoring do not hesitate to schedule an appointment with us.
The war always creates chaos and chaos, and it's not just the countries who are affected. So long as the war does not reach a diplomatic resolution and the waters continue to change with uncertainty.
