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  November 19, 2013: Booming Business Process Outsourcing Industry

The Philippine Business Process Outsourcing (BPO) industry, also referred to as offshoring industry, continues to expand. BPO is a major dollar earner, next to the remittances of Overseas Filipino Workers (OFWs).
BPO revenues are projected to grow by 20% in the next five years. The sector is projected to generate $16 billion in revenues this year, up from last year’s $13 billion, and employ 926,000 people, up from 777,000. The goal is to increase BPO revenues to $25 billion and employ 1.3 million Filipinos by 2016. The World Bank sees BPO to contribute to Philippine Gross Domestic Product (GDP), as it sees employment to grow to two million in 2020, or 11% of GDP.
The sector, dominated by call centers, has grown to be an economic bright spot for the Philippines. It is not just Metro Manila that has BPO facilities; second-tier cities such as Dumaguete, Davao, Iloilo, Bacolod, and Iligan, now have a flourishing offshore industry of call centers providing voice and non-voice services.
The BPO industry has expanded its coverage to include knowledge process outsourcing in accounting, bookkeeping, animation, software development, payroll processing, legal and medical services. The Philippines is tapping the American market for healthcare information technology (IT). Healthcare IT and information management are areas where Filipinos excel because of the country’s wealth of Doctors, Nurses, and Medical Technologists.
We congratulate the Information Technology and Business Process Association of the Philippines, headed by President and Chief Executive Officer Jose Mari P. Mercado and Chairman of the Executive Committee Benedict C. Hernandez, its Board of Trustees and Officers, for their initiatives to boost the further expansion of the business process outsourcing industry as a key factor to keep the momentum of economic growth in our Republic of the Philippines..

Source: Manila Bulletin - November 19, 2013

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