Final answer:
The Philippines is recognized as the ICT Hub of Asia because of the substantial growth in ICT-related jobs, notably in Business Process Outsourcing (BPO). Major corporations are moving their operations to the Philippines to benefit from lower BPO wages compared to the United States.
Explanation:
Philippines is known as the ICT Hub of Asia due to the significant growth of ICT-related jobs, particularly in Business Process Outsourcing (BPO). Companies like America Online, Citibank, and Hewlett Packard have shifted their operations to the Philippines to take advantage of the lower BPO wages compared to the United States. This trend highlights the country's attractiveness as an outsourcing destination.
Learn more about Business Process Outsourcing (BPO) here:
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