by: Ronald Escanlar
Friday, April 29, 2011 | Outsourcing News |
In the midst of a global economic slowdown, the Philippine outsourcing industry was able to maintain its steady pace of growth, the country’s central bank reported yesterday.
The Bangko Sentral ng Pilipinas (Central Bank of the Philippines) presented the results of the 2009 Survey of Information Technology-Business Process Outsourcing (IT-BPO) Services, which surveyed 736 companies involved with the outsourcing industry’s subsectors of contact centers, transcription, animation, software development, and “other BPOs.”
Total revenues in 2009 rose to USD 8.3 billion, up by 30.6% from USD 6.3 billion earned in 2008. All IT-BPO subsectors earned double-digit growth in revenues, according to the BSP. Voice-based services made up half of industry earnings, growing with an annual rate of 48.2% to post USD 4.207 billion in revenues. Software development sales increased by 18.4% to earn USD 1.672 billion, while transcription sales posted the highest growth at 66.8% to earn USD 57 million.
According to the BSP report, the US stays on top of the local outsourcing industry’s clients, followed by Japan, Europe, Australia and New Zealand. The total workforce employed by the industry grew by 25.3% for a total of 444,811 workers in 2009, the BSP report showed.
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