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PH ITO Market Seen to Grow Two-fold by 2016

by: Sarah Joson

Friday, March 30, 2012 | Outsourcing News |

The Philippines is Third Largest Supplier of IT Talent

Industry Development of the Information and Communications Technology Office of the Department of Science and Technology (DOST-ICTO) Deputy Executive Director Alejandro Melchor III announced during a meeting with the Philippine Software Industry Association (PSIA) that the country’s information technology outsourcing (ITO) industry can grow two-fold and get a bigger share in the global ITO market by 2016.

He then compared the ITO sector to BPO, saying that it bares similar benefits to the economy. He also noted that ITO has a rapid growth rate propelled by emerging trends that are considered as game changers. Some of which are the developments in technology and evolution of knowledge economy.

Melchor said the Philippines is the third largest supply of IT talent in the Asia Pacific Region (lagging behind India and China). The country has a talent pool equipped with diverse IT skills and is one of the most economical IT outsourcing destinations in the world.

On the other hand, DOST Secretary Mario Montejo said the ITO industry robustly grew last year at 37 percent and contributed about $1 billion in revenues, employing 50,000 workers.

DOST-ICTO Undersecretary Louis Casambre believes in the country’s potential to become a premier ITO destination as they are developing programs like ICT Public Private Partnerships (iPPP) with the help of PSIA. Nora Terrado, PSIA’s President said it is possible for the Philippines to become a leader in the ITO segment because it is already equipped with skilled and talented Filipino IT workers. 


Source:
http://www.philstar.com/

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