With the kind of progress the Business Process Outsourcing (BPO) industry in the Philippines has, it is expected that it will continue with its lucrative economic growth annually.
The focus on knowledge process outsourcing of the Outsourcing Services in the Philippines brought a good year in 2012 until this year (2013).
The year 2014 for Outsourcing Services in the Philippines is expected to be more fruitful than this year.
Here are some reasons:
MORE JOB OPPORTUNITIES
According to the Department of Trade and Industry (DTI), there will be one million Filipinos to be employed by the BPO industry by mid-2014 and the number could possibly reach to 1.5 million by 2016.
In fact, according to DTI Secretary Gregory L. Domingo, he expects that the said projection of employment for the industry of BPO in the Philippines will take place ahead of the said schedule due to the industry’s healthy growth: 15 to 20 percent per year.
The number of employees for BPO Philippines is expected to reach 920,000 by the end of this year, based on 2012’s employment growth which reached 750,000.
BIGGER THAN EXPECTED GROWTH OF CALL CENTER REVENUES
Call Centers have been the base of the success of the Philippine outsourcing industry. The establishment of call centers brought a drastic development to the economy of the country, wherein employment rates steadily rose year after year.
As the number of employees grew, so did the revenues of call centers. Call center revenues play an important role not only in the economic progress of the country but also in the development of the nation’s call center industry.
The Philippine call center industry would reach $11.4 billion, according to the projection of the Contact Center Association of the Philippines (CCAP). The projection, which was formerly $11.1 billion, was revised due to how promising the industry is.The whole projection from 2014 to 2016 is adjusted upward based on last year’s fast growth.
Furthermore, 2015’s projection is being adjusted to $13.1 billion, which was formerly $12.8 billion; 2016’s to $15 billion, which was formerly $14.7 billion.
SUSTAINING INVESTORS’ CONFIDENCE
Cebu Investment and Promotions Center (CIPC) Managing Director Joel Mari Yu projected that this year (2013) will be livelier compared to the previous year (2012).
According to him, one of the reasons is because of the reforms of President Aquino’s government policy and his determination to stop graft and corruption, which made a favorable situation for the Philippine and US markets.
As a result of the president’s reforms, investors maintain and increase their confidence to do business with the country.
The Philippine economic condition is expected to continue to be stronger even past year 2016, which is the last term of the president.
These reasons make it evident that the Philippine BPO industry has more great opportunities to take advantage of, not only in the year 2014 but also in the following years.
About the Author
Publish on 05/02/13
is a self-employed blogger and copywriter from the Philippines who loves writing and is always happy to share her passion for blogging.
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