According to House Deputy Majority Leader Roman Romulo, employees of the country’s business process outsourcing (BPO) sector will earn P247 billion in total this year. He added that normally, BPO companies allocate 40 to 45 percent of revenues to pay off salaries, especially since the sector provides high-value labor services.
Based on the sector’s projected revenue of $13 billion this year, $5.85 billion will be allotted for salaries. Furthermore, he said P247 billion worth of revenues will contribute to consumption spending which will help businesses all over the country as it will fuel demand for goods and services.
The BPO sector is also anticipated to contribute $27 billion and provide 1.3 million direct jobs by 2016, whereas it employed 638,000 and contributed $11 billion in revenues last year.
The Business Processing Association of the Philippines (BPAP), on the other hand, is hoping that the sector will create 126,000 jobs and produce an additional $2 billion income this year.
The services offered by the BPO sector range from voice-based processes to high-value ones like back office functions, medical, legal and data transcription, animation, software development, engineering design, and digital content.