In one of the sessions at the World Economic Forum on East Asia held in Makati City, Marife Zamora, Chairperson at Convergys Philippines, said the IT-BPO sector of the country is experiencing sustainable growth, thanks to foreign investments. She added that the growth in the sector is being driven by investments from medium to large businesses abroad and well-known companies that are looking to expand operations.
IT-BPO sector growth factors
Zamora also credited the growth to other factors such as additional support from the government, school institutions, and the business sector. Moreover, she said human capital development, improvement in infrastructure, and educational programs focused on improving the country’s poverty rate are key contributors as well.
The executive noted that the local BPO sector employed 900,000 Filipinos, and posted revenues worth $15.5 billion in 2013. She said they are targeting to employ more than one million Filipinos and post $18 billion in revenues by the end of this year. The revenue target for 2016 is $25 billion.