IT-BPO Seen to Drive PH Economic Growth
by: Sarah Joson
Tuesday, July 24, 2012
He added that the IT-BPO industry’s robust state was able to go beyond the previous predictions based on the public-private partnership [PPP].
Furthermore, the senator shared information from the Business Processing Association of the Philippines (BPAP) which stated that the IT-BPO industry of the country was able to grow 24 percent from 2010, posted $11 billion in revenue in 2011, and provided 638,000 or 22 percent more jobs.
BPAP also anticipates that the industry will contribute $25 billion until 2016, and account for nine percent of the country’s gross domestic product (GDP). It will also represent 10 percent of the global IT-BPO market and provide 1.3 million jobs to Filipinos.
Angara noted that the IT-BPO sector rapidly grew in terms of work force and revenues over the past decade and has become one of the leading sources of jobs. He recommended that the government should exert extra effort to maximize the industry to its full potential.