The outsourcing industry of the Philippines is anticipated to surpass revenue and employment targets this year. According to the Information Technology and Business Process Association of the Philippines (IBPAP), this is likely to happen since foreign businesses see the country as an ideal outsourcing hub.
In the 5th International Outsourcing Summit, IBPAP President Jose Mari Mercado predicted that outsourcing revenues this year will reach $16 billion, which is 21 percent higher than last yearís $13.2 billion, and higher than their initial projection which was $15.7 billion.
Employment projections are also higher from last yearís 777,000 to 925,000. By the end of the year, the organization expects the workforce to reach 960,000 for the entire information technology business process management (IT-BPM) sector.
The voice industry is the key contributor for this growth, but interest for non-voice processes is on the rise as well.
Meanwhile, IBPAP Chairman Danilo Sebastian Reyes said more and more foreign investors are specifically requesting for Filipino outsourcing companies not only for voice processes but non-voice operations as well on account of the organizationís great efforts in marketing the country as an end-to-end service destination.