IT-BPO sees $25B revenues this year

The Information Technology and Business Process Association of the Philippines (IBPAP) is confident revenues will reach $25 billion and direct hires 1.3 million this year, meeting the industry roadmap.

BPO output is 7.7 percent of the country’s gross domestic product.

Benedict Hernandez, chairman of the Executive Committee of IBPAP said last year revenues amounted to $22 billion and the number of workers, 1.1 million.

Hernandez said during the six-year roadmap, IT-BPO expanded the number of services it offered noting fast growth from the back-office and healthcare services.

“We have managed to broaden the type of services and capabilities the Philippines is known for and we’re able to actually deliver. Over the past year we’ve seen bigger play in back office and healthcare services,” he said.

The IT, animation, legal process outsourcing and marketing sectors also grew.

Hernandez said the country has also managed to diversify the BPO market.

“The interesting thing about the roadmap is we were able to diversify the industry portfolio. We have a lot of businesses from Asia, then Europe. US is still a majority market and it is still a growing market,” he said.

The IT-BPO was also able to branch out to other key cities in the country.

Currently, four non-Metro Manila cities are centers of excellence and matured locations: Bacolod, Clark, Davao and Cebu.

“We have been successful in driving growth in multiple locations across the country. That’s part of our journey which is inclusive growth – driving investment and job creation in multiple cities,” Hernandez said.

At present, the IT-BPO sector is finalizing the roadmap for 2017 to 2022 which will be launched on October 27, 2016.

Source: http://goo.gl/s7fsBp