by: Karen Cayamanda
Monday, November 15, 2010 | Outsourcing News |
The Business Processing Association of the Philippines or BPAP forecasted that the BPO sector would end 2010 with $9 billion in revenues or a year-on-year growth rate of 26 percent. However, Canada-based XMG Global Inc. said revenues would only reach $8.85-billion. This accounts for only 23 percent growth rate, though it is faster compared to 20 percent seen in 2009.
On a global scale, outsourcing revenues would increase 13.9 percent this year - from $373.1 billion to $425 billion. XMG chief analyst Lauro Vives said the slower growth rate this year is “indicative of slow investment expansion in off shoring destinations and conservative increase in outsourcing demand from the US and European region.”
Vives added that India, China, and the Philippines still dominate the offshore outsourcing arena. For this year’s global revenues, India would get 43.7 percent share, China would have 28.7 percent, while the Philippines would get 7.1 percent.
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