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PH BPO Revenues Predicted to Reach $25B by 2016

by: Sarah Joson

Wednesday, February 1, 2012 | Outsourcing News |

During the press conference "Strategies and Prospects of the IT/BPO Industry in the Philippines”, government officials and industry leaders stated that they strongly believe in the potential of the information technology-business process outsourcing (IT-BPO) industry. In fact, the industry is expected to provide 1.3 million jobs and contribute approximately $25 billion in revenues by 2016, even though an anti-outsourcing regulation is being petitioned in the US.

Department of Science and Technology-Information & Communication Technology Office (DOST-ICTO) Secretary Mario G. Montejo said there’s a great possibility that the Philippines can lead worldwide, while Deputy Executive Director Alejandro P. Melchor III said the BPO industry is resilient against challenges in the economy - whether it is recession or politics. Furthermore, he highlighted that the industry grew 26% in 2008 and 17% in 2009, even during the global economic downturn.

In 2011, the industry was valued at $10.9 billion and employed 640,000.

Business Processing Association of the Philippines (BPAP) Chairman Fred Ayala is optimistic that the BPO industry will reach its goals this year. He added that it is important to stay competitive since there are other destinations that are poised to make a mark in the outsourcing arena.

The Philippines is already the top provider for voice-based processes, but it is believed that tapping other mainstream niches such as healthcare information management, finance and accounting, human resources, and creative process will greatly contribute to the growth of the industry.

Meanwhile, programs such as the ICT Workforce Capability Development Program, Next Wave Cities Program, and the Domestic ICT Industry Development Program were created by DOST-ICTO to address talent issues and further improve the industry.


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

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