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PH BPO Industry Growth to Reach 30% this Year

by: Karen Cayamanda

Monday, January 24, 2011 | Outsourcing News |

Global BPO is Growing Faster than other Industries

SPi Global president and CEO Malik Parekh predicts that the Philippine business process outsourcing (BPO) industry will grow by 30 percent this year. Figures also reveal that the industry shows a faster growth rate compared to others around the world.

More than 500,000 workers are currently employed in the country’s BPO industry. Parekh predicts that the workforce will stand at 1.3 million employees by 2016. This can be attributed to the emergence of new markets in the Asia-Pacific region and Western Europe.

BPO companies in the Philippines reported that more than half (58 percent) of their revenues come from non-voice services, and 42 percent come from voice-based work.

The industry is continuously growing, but Parekh said Filipinos should work on further improving their skills to meet client requirements, especially those in the non-voice sector.

Parekh also predicted that global BPO revenues will reach US$124 billion by 2016.




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