by: Sarah Joson
Friday, September 26, 2014 | Outsourcing News |
The Philippines is known as the second strongest business process outsourcing (BPO) destination next to India. It is anticipated to earn $18 billion this year and the executive noted that they are still eyeing to hit 1.3 million employees in 2016.
He also recounted that during the early 1990s, the industry started from nothing, then emerged as the shining star of the Philippine economy with revenues amounting to $1.5 billion and employee count of 103,500 in 2004, and is now poised to increase earnings to $25 billion by 2016.
The industry also paved the way to improve the living conditions of a lot of Filipino people by providing well-paying opportunities. This has also presented an opportunity for a huge number of overseas Filipino workers to seek employment locally.
The industry body also pointed out that for every person directly hired by the industry, 2.5 support jobs are created.
The Philippines has been identified as the global leader for call center operations - even surpassing India. The country is also moving towards complex processes since Western organizations are also looking at the Philippines as an option for back office outsourcing.
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