According to a study done by World Bank consultant Raja Mitra, improvements in the information technology outsourcing (ITO) industry could help increase export revenues, from $30 billion to $55 billion by 2020, and relatively surpass the $9 billion it measured in medium-term export revenues during 2010.
Mitra also estimated that the low-end medium-term export revenue could amount to $30 billion, the medium-end at $45 billion and lastly, the high-end could be valued at $55 billion.
“While not a panacea...expanding the scale and scope of exports of IT-BPO services as well as domestic industry development and use of ICT [information and communication technology] will offer new avenues that can help the economy to be more productive and accelerate efforts to achieve inclusive growth within the country and to interface and catch up with the rest of the world,” Mitra said.
In 2010, the IT-BPO industry contributed five percent to the country’s gross domestic product (GDP), but Mitra predicts that it could reach as much as 11 percent in 2020. Mitra likewise predicted that the number of employees in the sector will reach 6.8 million by 2020. However, he said that these are only estimates and that there are more areas to work on like the lack of infrastructure in most IT-BPO services.
In terms of voice-based outsourcing services, Mitra said the Philippines had surpassed India and that Metro Manila is currently the city that has the most number of employees in the BPO industry.