Freelancing is taking center stage this 2020 as it becomes more popular among Filipinos, especially online freelancing. It may be because of the lifestyle choices that are now available to you. Or the money you can get.
But what does freelancing actually look like in the Philippines? Here is the state of freelancing in the Philippines, and what we know so far.
6th Fastest-Growing Market in the World
In the 2019 Global Gig Economy Index by Payoneer, it listed the Philippines as the 6th fastest growing market for freelancers in the world in terms of revenue. We are at 35% growth in freelancing just next to India, another large outsourcing hub, with 29%.
This means that the demand for Filipino talents abroad is rising. The global market recognized what the Filipinos could offer, and we should maximize it.
Higher Income Opportunities and Work-Life Balance
Professionals in the Philippines are paid less compared to our international counterparts. In that regard, foreign companies outsource some of their operations online to cut some costs but still hiring competent talent.
But even with the relatively lower pay, the salaries are still higher compared to what you can get in the Philippines. And the costs associated with working like transportation and food costs are saved when you work-from-home.
More than the money, freelancers can have much needed time with their loved ones or time for their passion projects (or both). The match made freelancing a viable option not only for the jobless but also for high calibre professionals seeking more income and work-life balance.
1.5 Million Filipinos are Currently Freelancing
And this number is growing by the minute. In an editorial by Senator Sonny Angara, he states that 1.5 million Filipinos are currently freelancing, and we have one of the highest freelancers per capita.
It is not only exclusive to the cities but also rural and poverty-stricken areas like Marawi. It can help those without access to the same opportunities in the Metro to live a better life without going abroad.
If other Filipinos can take advantage, why can’t you as well?
The Government Pushes Programs for Freelancing
The government recognizes the potential of freelancing. The Department of Information and Communications Technology (DICT) launched programs and training modules for aspiring freelancers in the Philippines.
Under the initiative Digital Jobs PH, the DICT spearheaded the rural impact sourcing technical training to help our fellow Filipinos get employed in the freelancing industry.
They are also trying to boost the slow internet speed in the Philippines, which will greatly help the community.
75% of Filipino Freelancers are aged 24 to 39 Years Old
According to a Paypal study, 75% of Filipino freelancers are aged 24 to 39 years old. It means that the current workforce now in their prime years are already embracing freelancing. The landscape of work will definitely be a lot different in the decades to come.
Job Instability is a Major Concern for Freelancers
Even with job flexibility, the major concern for freelancers is job flexibility. According to a Paypal survey, 92% of Filipino freelancers feel it’s a significant drawback. You might have contracted clients now, but there are months where you can’t get a client.
But the same survey suggests that having one more client is vital to hedge that uncertainty. And the best way is to build good relationships with different clients because loyal clients will be the lifeblood of your freelancing business.
58% of Filipino Freelancers Use a Freelancer Platform
58% of the Filipino freelancing community uses a freelancing platform to get job orders. It might be for convenience because the marketplace streamlines the process of acquiring clients.
The advantage here is that people haven’t ventured out in directly finding clients in different channels like LinkedIn, which may provide higher income. It’s a room for growth for both aspiring and veteran freelancers.
There you have it! The stats are mostly to our advantage. And it is expected to grow more for the coming months. If you are on the fence, try out remote working and see how it can help you. You’ll never know, it might be that big break you were looking for.