The Department of Trade and Industry (DTI) predicts that by 2014, there will be a million workers who will be employed in the business process outsourcing (BPO) sector, and by 2016, it could reach 1.5 million.
According to Trade Secretary Gregory L. Domingo, the robust outsourcing sector of the Philippines, which he said posted strong growth of 15-20 percent annually, could help the industry reach the 2016 jobs target.
Last year, the local BPO sector employed 750,000 Filipinos and by the end of this year, it is predicted to reach 920,000. Moreover, the sector is anticipated to post revenues that can reach $27.2 billion this year, which is nearly $10 billion more than last year's $17.77 billion.
Meanwhile, Cebu, which ranked 8th in Tholons Inc.'s top outsourcing destinations, is seen to provide more jobs as well, tipping the 100,000 mark this year.