Philippines IT-BPO’s Promising Outlook for 2012

On May 10, 2012, in Outsourcing, by Business Development Group
According to data from the Board of Investments, the country’s BPO industry showed a growth of 24 percent, recording roughly $11 billion in revenues last year and employing 638,000 employees. The Business Process Association of the Philippines (BPAP) has projected $25 billion in revenues by 2016 and industry leaders are confident in reaching this.

According to data from the Board of Investments, the country’s BPO industry showed a growth of 24 percent, recording roughly $11 billion in revenues last year and employing 638,000 employees. The Business Process Association of the Philippines (BPAP) has projected $25 billion in revenues by 2016 and industry leaders are confident in reaching this.

Industry leaders have described 2011 as a “banner year” for the Philippine IT-BPO industry; and it seems 2012 may yet become another good year for growth as industry leaders express optimism that the industry would surpass its growth this year.

According to data from the Board of Investments, the country’s BPO industry showed a growth of 24 percent, recording roughly $11 billion in revenues last year and employing 638,000 employees. The Business Process Association of the Philippines (BPAP) has projected $25 billion in revenues by 2016 and industry leaders are confident in reaching this.

Related Article: Banner year seen for IT-BPO

In working towards this goal, the government has made it a priority to sustain the performance and growth of the IT-BPO industry, and has taken steps to strengthen the academe and industry linkage to produce the desired workforce and help sustain its growth momentum.

In partnership with Microsoft Philippines and National ICT Council of the Philippines, a Microsoft Training Caravan will be held in the various BPO city hubs of the country; Iloilo and Davao City this month and Cebu in June.

Related Article: DOST Works With IBM on Lab

Giant information technology and business solutions provider IBM has partnered with the country’s Department of Science and Technology (DOST) to establish the first Philippines Systems and Technology Research and Development (R&D) Laboratory aimed to promote strategic growth in business process outsourcing (BPO), knowledge process outsourcing (KPO) and other critical areas identified by the government.

Related Article: IBM Expanding Business In Philippines

In addition, the Philippine government’s partnership with the Asian Development Bank (ADB) aims to set up at least three “knowledge hubs” in select schools and universities throughout the country— one each in Luzon, Visayas, and Mindanao— to help support the continued growth of the IT-BPO industry. A memorandum of understanding (MoU) was signed by the government through the Finance Department and the ADB outlining a technical assistance fund to the IT-BPO sector worth $ 650,000.

Related Article: Phl, ADB Set Up ‘Knowledge Hubs’ to Boost IT-BPO Sector

 

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