by: Karen Cayamanda
Monday, April 11, 2011 | Outsourcing News |
With a 26 percent revenue growth rate in 2010, which translated to almost $9 billion, the Business Processing Association of the Philippines (BPAP) sees stronger growth, reaching 25 percent a year, for the industry. In the roadmap created for 2010-2016, it is estimated that the outsourcing industry of the country will reach a growth rate of 15 percent.
Last year, BPAP and associations reported that 525,000 individuals comprised the IT/BPO workforce, and $8.9 billion in revenues were generated. With a faster growth rate, BPAP Chairman Alfredo Ayala said the industry can post $25 billion in revenues by 2016 and employ 1.3 million direct jobs and 3.2 million indirect jobs. When it comes to the projected growth rate of 15 percent, the industry is capable of employing 900,000 direct jobs, 1.7 million jobs, and posting revenues reaching $20 billion.
The Philippines had already taken the lead in providing voice-based or call center services. This sector alone grew by more than 20 percent last year. On the other hand, the non-voice sector, which includes back office functions and knowledge process outsourcing (KPO), posted a 30 percent growth rate in 2010.
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