Business Outsourcing Sector in Philippines Exceeds 2015 Targets

As business outsourcing continues to grow, the significant changes that this growth presented dominated 2015, particularly within the Philippines. It’s common knowledge that BPO services have become almost an unofficial trademark of the Philippines, with more and more global brands turning to employing Philippine offshore work staff, resulting in over a million employees and generating revenues of $22 billion.

“The BPO industry continues to be the forefront of our economy,” Danilo Sebastian Reyes, chairman of IT & Business Process Association of the Philippines (IBPAP), stated at a conference in Manila earlier this year in February.

“In 2015, we breached our target revenue of $21 billion. We registered almost $22 million in revenue and almost 1.1 million direct employment.”

This successful business outsourcing explosion has come from a number a different factors, from a large supply of English-speaking college graduates, to the strong US dollar to Pesos rates and an overwhelming support from the government. This has ultimately helped the Philippines overtake India within this industry, who are well known for their consistent dominance within the  business process outsourcing  (BPO) sector. According to Reyes, Philippines is determined to allow their rise in ranks to only continue to grow, with a new revision of the 2022 revenue and employment projection underway.

“We’re already close to reaching our 2016 revenue target of $25 billion and employment of 1.3 million workers. Given this, we’re now setting new and bigger targets for 2022, to be announced sometime this August.”

It’s currently the hope of Reyes and the Philippines government to shape the country and provide more opportunities for citizens to enter into the IT outsourcing  sector. Addressing hindrances to its future growth targets such as education, power supply and infrastructure is said to be part of their plan to help both the citizens of the Philippines and the goal to be a leading BPO provider.

“Being able to get that quality talent is still the challenge – as demand increases, we also need to match that will skilled and unique talents. To address this, we have partnered with CHED (Commission on Higher Education) to provide a service management program being offered in 17 state universities,” he said.

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