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Global Outsourcing Industry Posts Higher Revenues in 2014

by: Sarah Joson

Friday, January 30, 2015 | Outsourcing News |

Global outsourcing industry posts higher revenues

United Nations Conference on Trade and Development, and the World Trade Organization recently revealed their assessment on the performance of the global outsourcing industry. It was found that during the third quarter of last year, revenues amounted to $7.1 billion, which is 11.8 percent higher than the amount posted during the same period in 2013. The growth seen in Q3 2014 is also higher than the $4.7 billion posted during the first quarter, and $6.1 billion in the second quarter.

According to Jose Mari P. Mercado, CEO and President of the IT & Business Process Association of the Philippines (IBPAP), the country is on track in achieving the $25-billion revenue target indicated in the 2016 IT-BPO Road Map. Factors such as the number of new locators and expansion of existing outsourcing firms are believed to be the growth drivers.

On the other hand, Senen M. Perlada, Director of the Department of Trade and Industry Export Marketing Bureau, believes that the overall service exports, which cover non-commercial services, will not reach the 2014 government revenue target of 12-12.2 percent or $24.4 billion to $24.81 billion. However, the increasing number of road shows, favorable exchange rate, and sustained interest from potential investors contributed to the positive outlook for service exports in 2015.


Source:
http://www.bworldonline.com/

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