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usource.me/7-facts-and-forecasts-the-bpo-industry-in-the-philippines/
The Philippines Business Process Outsourcing (BPO) industry has edged out India* as the call center leader of the
world. BPO is now the biggest contributor to the Philippines gross domestic product. We give you fast facts and
numbers about it here.
Also called the IT-BPM (Information Technology and Business Process Management) sector composed of customer
relationship, support and KPO (knowledge process outsourcing including software development and nancial
backroom services), its the countrys fastest growing industry. More and more investments are made and sealed
every year.
Millions of Filipinos work in the Middle Easts petroleum-exporting nations, but remittances and work has decelerated
since the steep decline in fuel prices. Now Filipinos need only upgrade their skills and nd work in the local
outsourcing sector instead of doing menial labor abroad.
US-based and European companies, in the current uctuating economy, largely outsource to the Philippines to cut
costs AND remain competitive.
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1. In the worlds oshoring destinations, the Philippines is second only to Indias pioneering BPO industry.
But in the voice or call center sub-sector, we have already surpassed India as global leader since 2010.
2. 2014s $18.4 billion revenue was at 18.7-percent growth compared to 2013.
3. Industry experts predict the industry revenue to reach $25 billion by 2016, and $55 billion by 2020. The IT
and Business Process Association of the Philippines (IBPAP) has a more modest projection of $21.3 billion revenue
for 2016.
4. Over a million are already employed in the BPO industry, and 1.18 million more jobs are expected to be
generated by next year.
5. BPO revenue is almost equal to the revenue from remittances coming from overseas Filipino workers. The
local BPO industry is now the biggest contributor to the Philippines gross domestic product. The Philippine Stock
Exchange and the Bangko Sentral ng Pilipinas (BSP) have stated on record that outsourcing will soon overtake the
value of remittances from overseas Filipino workers (OFWs) currently estimated at 10% of annual GDP.
6. The Philippines has become the top destination for IT-BPO rms, and remains that way.
Several factors for the countrys success in BPO are:
scalable, educated talent pool
cost competitiveness
excellent infrastructure
a proven track record
adequate government support for the industry
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