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PH BPO Posts 24% Growth in 2011

by: Sarah Joson

Friday, April 13, 2012 | Outsourcing News |

Bullish Philippine BPO Industry is on Track

The business process outsourcing (BPO) sector of the Philippines is right on track when it comes to meeting its 2016 goals as it posted a 24% ($11 billion) increase in revenues from 2010 to 2011.

Benedict Hernandez, President and CEO of the Business Processing Association of the Philippines (BPAP), said the figures posted by the sector last year were higher compared to the 20% yearly projection, and bested the 10% to 15% predicted global figures. A 22% increase in jobs was also seen last year, with a total of 638,000.
 
For the five-year target, Hernandez said the industry is eyeing to reach $25 billion or 9% of the country’s GDP. Meanwhile, the BPO sector’s largest segment, call center operations, contributed 65% of the industry’s total revenues and grew 21% in 2011.

According to Hernandez, one of the key growth drivers for the segment is the strong support from the local government, specifically the P450 million budget for BPO-specific training programs by the Technical Education and Skills Development Authority (TESDA), as well as the support from the Department of Science and Technology (DOST) and Commission on Higher Education.


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

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