State of Gig Economy in the Philippines Today
In today’s globalised economy, it’s fairly common for companies to hire freelancers or independent contractors on short notice, particularly for lower-skilled tasks. These days, it’s not uncommon for clients and service providers to meet on an online platform. The COVID-19 pandemic has resulted in the displacement of a large number of workers; nevertheless, a significant proportion of these individuals have opted to become ‘giggers,’ which means that they provide their services on a task-based, contractual, and brief period of time.
The advancement of technology, business practices, and kinds of occupations, among other factors, all driven to reforms in the nature of employment, perhaps one of the most exciting advances is the emergence of the so-called “gig economy” and employees in the labor force. Even before the pandemic, the Philippines ranked first among the countries with the fastest booming gig economy industry (annual growth of over 200%). As per JobStreet report, the country has more than 1.5 million people working remotely.
Because of the outstanding English language abilities, along with adequate training, and an appealing cost structure that the Filipino workforce has, more and more foreign organisations are turning to Filipino gig workers. It is estimated that at least two percent of the population in the Philippines are freelancers, as stated in PayPal’s 2018 Global Freelancer Insights Report. Customer care (8 %), data entry and internet research (34 %), and virtual assistance (13 %) are just some of the diverse types of jobs that Filipino freelancers are involved in. The findings of the study conducted by PayPal also showed that digital platforms make it simpler and more convenient for freelancers to accept payments from customers located in other countries.
Freelancing allows you to set your own schedule, make your own decisions, and go in whatever direction you like. When a person works as a freelancer, it is much simpler for them to pick the kind of job that best suits their interests and brings them the most financial reward.
