The Business Process Outsourcing (BPO) industry produced one million jobs in 2014 and generated $18 billion (P805.5 billion) earnings, which could grow to $25 billion (P1.118 Trillion) in 2016, an association official said on Wednesday.
Danilo Reyes, Chairman of the Information Technology and Business Process Association of the Philippines (IBPAP), said the BPO industry aims to create 12.3 million jobs in the Philippines by 2016.
“BPO industry reached one million BPO jobs in 2014. This is significant, especially when the BPO industry began in the Philippines with only 2,000 employees 16 years ago,” Reyes said during 2015 Asia BPO Summit.
Reyes said the industry was optimistic it would continue to grow given the diversification of the services offered and their contribution to the overall performance of the IT-BPO sector.
According to Reyes, the contact center sector is still the biggest revenue contributor, but new sectors are stepping up. These include the healthcare information management, which was the fastest-growing segment last year.
In the meantime, the group is targeting to begin this year the crafting of a new road map for the industry beyond 2016 to set new targets and strategies that will secure the leadership of the Philippine IT-BPO industry in the global offshoring space.
According to Reyes, the new road map is likely to cover six years up to 2022.
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