The Philippines’ business processing outsourcing (BPO) sector now employs 1 million people, increasing nearly tenfold from the 103,500 figure in 2004. According to the IT and Business Process Association of the Philippines (IBPAP), the country’s BPO sector is expected to reach $18 billion in revenue in 2014 and employ about 1.3 million people by 2016. IBPAP president Jose Mari Mercado also said in a statement that they expect the sector to hit $25 billion in revenue on the same year.
The booming BPO industry helps provide well-paying jobs not only for direct hires but also for support positions. According to the industry group, one direct hire also generates about 2.5 additional support jobs. Some companies are setting up sites in tier 2 or New Wave cities beyond Metro Manila to lower attrition rates and give employees a better work-life balance.
The Philippines continues to expand beyond its traditional strength in call centers, offering higher value-added and niche services to compete with outsourcing giant India. The services include finance and accounting services, medical and legal transcription, software design and animation.
