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PH Recognized as One of the Leading Global Service Exporters

by: Sarah Joson

Tuesday, June 14, 2011 | Outsourcing News |

PH Services Exports Increased 3.6%

World Bank recently recognized the Philippines as one of the leading global service exporters, thanks to the business process outsourcing (BPO) industry. They also noted that for the country to progress, travel and tourism should also be developed.

According to World Bank senior trade economist Sebastian Saez, the factors that affect the services sector are infrastructure, manpower, and excellence of institutions. “The experience of exporting outsourced business services in the Philippines shows that by creating an enabling environment where the private sector can deploy its creativity, developing countries can reap the benefits that services exports opportunities are opening,” Saez said.

Services exports increased 3.6 percent per year, from nine percent in 1999 to 21 percent in 2009.

The Philippines holds 15 percent of the global BPO industry, with India (37%) at the top spot and followed by Canada (27%).

According to Business Processing Association Philippines (BPAP) chairman Fred Ayala, during 2010, the country’s BPO industry employed around 500,000 people and yielded $9 billion worth of services. The industry plans to reach $25 billion in revenue by 2016 and employ 1.3 million.

World Bank study also emphasized that the tourism sector should be cultivated and reforms outlined in the National Tourism Development Plan (NTDP) should be addressed to maximize the sector’s potential and in the long run, help resolve poverty issues in the country. 

Source:
http://www.abs-cbnnews.com/

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