MANILA — Business process outsourcing (BPO) is growing at double-digit rates, hoping to achieve its goal of hitting $25 billion in yearly revenue and 1.3 million in direct jobs by 2016.
“The industry continues to be strong and vibrant as we have seen 15 percent to 18 percent (compounded annual growth rate in the past 10 years),” Information Technology and Business Process Association of the Philippines (IBPAP) chair Dan Reyes said in a press briefing.
The continuous growth of the industry makes the goal “very much achievable.”
IBAP also noted the industry’s performance is also on pace to overtaking remittances sent by overseas Filipino workers.
“There remains tremendous growth potential particularly in contact centers, gaming, software development and health information services.”
IBPAP vice chair Lito Tayag, meanwhile, urged political leaders to attend the IT-BPM Summit.
“We are inviting key political leaders to this year’s International IT-BPM Summit to understand their views,” Tayag said.
“Our success is partly due to the close collaboration between the government and the private sector and we want to have more of that,” Tayag added.