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BPO Revenues, Remittances Predicted to be on Same Level by 2017

by: Sarah Joson

Monday, March 26, 2012 | Outsourcing News |

Philippine BPO Earnings Could Match OFW Remittances by 2017

In a recent seminar of the Economic Journalists Association of the Philippines (EJAP) sponsored by the San Miguel Corporation (SMC), Jonas Ravelas, Market Strategist at BDO, said if the country’s business process outsourcing (BPO) industry continues to grow at 20 percent, its revenues will be at the same level with OFW remittances by 2017 and will make room for more economic development.  

 The BPO industry accounts for 5.4 percent of the domestic economy’s growth, seen in last year’s gross domestic product (GDP). The government aims an 8.6 percent GDP contribution by 2016.

Ravelas noted that as the call center sector grows, more jobs will be created even in the local services sector. For instance, establishments that cater to BPO employees will set up shop in call center areas. He added that working for BPO companies is an option that people nowadays are taking since the salary is better than the minimum wage and they would no longer have to leave their families to work abroad.


Source:
http://www.zambotimes.com/

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