BPO sector seen to generate up to $13-B revenues in 2010
MANILA, Philippines - The Philippine business process outsourcing (BPO) industry is expected to attain $11 billion to $13 billion in revenues this year as the lingering economic crisis forces companies to continue cutting costs.
The Department of Trade and Industry (DTI) said the BPO industry, particularly the information and communication techonology (ICT) sector, would continue to expand this year.
It noted that this expansion would entail hiring up to 900,000 workers, up from 400,000 in 2009.
BPO stakeholders said companies in the US, Latin America and Eastern Europe continue to outsource their operations to English-speaking countries like India and the Philippines, where labor is cheap.
The DTI is now laying out its Investment Priority Plan for 2010.
DTI Undersecretary Elmer Hernandez said the ICT/BPO sector will be top priority, followed by the infrastructure, food production, tourism and mining sectors.