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PH BPO Revenues to Match OFW Remittances by 2016

by: Sarah Joson

Saturday, January 21, 2012 | Outsourcing News |

BPO Revenues Catching up with Remittances

Department of Transportation and Communication (DOTC) Undersecretary Rene Limcaoco said the business process outsourcing (BPO) industry closely lags behind OFW remittances in terms of earnings for the Philippine economy, but will continue to grow and match revenues from Filipino workers who are working overseas. This is likewise stated in the 2011 report from the industry body Business Processing Association of the Philippines (BPAP).

The report also states that the BPO industry contributed around $9 billion or 4.8 percent of the country’s gross domestic product, and it is predicted that it will be on the same level with the remittances of OFWs reaching nearly $25 billion in 2016.

The targeted revenue for the BPO sector this year is $11 billion.

The Philippines is now considered as the top global outsourcing location of choice in terms of voice-based services.


Source:
http://www.sunstar.com.ph/

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