Trade and Industry Secretary Gregory L. Domingo expects the BPO (business Process Outsourcing) sector to reach one million workers ahead of schedule, at the earliest of middle 2014, because of the strong growth of 15 to 20 percent per year.
Domingo said the BPO sector is bound to hit 1.0 million jobs in 2014 and 1.5 million by 2016.
"The 1.5 million jobs (number) is a stretch target but it is achievable because by mid 2014 we are already at 1 million," Domingo told reporters. BPO jobs already hit 750,000 in 2012. By end 2013, the industry expects jobs at 920,000 already.
"There is a slight opportunity that we can hit 1 million jobs by mid 2014," said Domingo.
Based on is development roadmap, by 2016 the BPO industry is expected to generate $25 billion in terms of revenue and 1.3 million direct employment and 3.2 million indirect employment.
It is well on track on the targets. For 2013, the industry is expected to hit $16 billion in revenues with direct employment of 926,000 workers.
In the latest annual ranking by Tholons, a services globalization and investment advisory firm, Manila has overtaken Indian cities Bangalore and Mumbai in the top 100 global outsourcing destinations while Cebu has edged out Dublin due to significant investments and expansions in the country's IT-BPO space.
Tholons 2013 Top 100 Outsourcing Destinations report showed that Manila (NCR) claimed the number three slot, following Indian cities Bangalore and Mumbai. Manila, ranked No. 4 in 2012, has overtaken Delhi (NCR), India.
Cebu City, formerly at No. 9, also went up one rank and pushed Dublin, Ireland from the eighth spot. The Tholons ranking said that more Philippine IT-BPO hubs were also included in this year's ranking.
Although Davao slipped one rank to No. 70, Sta. Rosa City in Laguna climbed two spots to No. 84 while Iloilo is No. 93. Bacolod City re-enters the list at No. 94 and Baguio City is a new entrant at No. 99.
According to Tholons, the Philippines enjoys a more vibrant IT-BPO industry than either Indonesia or Malaysia. These three countries are considered the most promising Southeast Asian destinations in 2012.
The region's "maturing outsourcing brand, improving macro-economic environment, and expanding domestic markets" were cited as the reasons large service providers prefer Southeast Asian markets, hence their upward movement in this year's ranking.
Tholons reported that in 2012, "the Philippines IT-BPO industry was fueled by increased new investments from large and mid-sized foreign providers, as well as greater expansions of established locators and captives across many of the country's established delivery locations."

Source: Manila Bulletin- February 5, 2013