By Erwin Oliva
www.INQUIRER.netAn analyst has identified the Philippines as one of several countries that would continue to benefit from the “globalization market†in 2008.
According to neoIT’s Global Services Insights Research Report, the awareness of other alternative locations for investments besides India has increased.
The Philippines was among the countries identified as an ideal location for investments due to increasing investments in infrastructure, such as telecommunications.
The neoIT report noted that the joint investments of government and industry to create business parks, offer tax incentives and fund startup ventures have boosted awareness among potential investors from the US and Europe.
The report said that India’s dominance for the past five years has been affected by higher turnovers and inflation.
“The globalization market will be understood as ‘global’ rather than ‘India,’†the report said.
Other countries identified as alternative locations are Canada, Brazil and Mexico.
In the same report, neoIT said many companies are frustrated with the turnover and inflation in key cities like Bangalore in India.
The cost of operating global facilities in Bangalore could equal that of those run in the US in five to six years, the report added.
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