by: Sarah Joson
Monday, February 17, 2014 | Outsourcing News |
According to Information Technology and Business Process Association of the Philippines (IBPAP), a 17- percent growth in revenues was posted by the information technology and business process outsourcing (IT-BPO) sector of the Philippines last year. It was found that the country is still a preferred destination for foreign companies that are looking to expand operations.
Jose Mari Mercado, IBPAP’s President and Chief Executive Officer, said the IT-BPO sector earned $15.5 billion last year, 17 percent higher than $13.2 billion posted in 2012.
Meanwhile, the sector was seen employing 900,000 last year. In 2012, it employed 777,000.
The executive pointed out that clients have been gradually increasing work sent to the Philippines based on the performance of Filipino workers. Moreover, he noted that the country is the top choice for companies looking for voice services, and is the second outsourcing destination for non-voice services.
For this year, he anticipates that revenues from local IT-BPO sector will be 17-percent strong and will continue to grow. Their target for the number of individuals employed in the sector this year is 1.4 million.
It is anticipated that healthcare is one of the segments that will fuel the growth of the sector.
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