According to the Business Processing Association of the Philippines (BPAP), the country’s BPO industry had already posted $4.7 billion in revenues for the first half of the year. This is half of the $9.4 billion revenue goal projected for 2010, so the industry is right on track towards achieving that revenue projection.
Oscar Sanez, president of BPAP, is confident that with the present revenue growth, outsourcing will be the biggest service export for the country. He said the Aquino administration needs to find ways to attract foreign investors for the continuous growth of the country’s economy. "Over the past years we have fallen behind Asean in FDIs [foreign direct investments]. We need to promote (ourselves more). FDIs will feed our future growth or else we have to rely on what we have," Sanez said.
Sanez added that in a survey conducted in the second quarter, more than half of BPAP members said they are expecting a growth rate of 6-50 percent in revenues and workforce.