Philippines BPO Performance to Outpace Economy in 2020

The Philippines BPO (business process outsourcing) industry is expected to perform better than the Philippine economy this year although the sector will not see revenue growth, according to a study commissioned by the IT and Business Process Association of the Philippines (IBPAP) to revise industry forecasts up to 2022.

Philippines BPO Companies to Lose Zero Jobs Despite Pandemic

Despite the pandemic, the BPO industry is expected to lose zero jobs even though hiring growth will flatten. Benedict Hernandez of the Contact Center Association of the Philippines (CCAP) explained that COVID-19 has been challenging but has opened doors to new opportunities. For one, work from home arrangements have significantly boosted productivity for some companies.

According to Hernandez, by April, closely following the March 17 lockdown, contact centers were 80 percent up and running. Hundreds of thousands of people figured out a way to help their clients, doing it at home. Now contact centers are close to 100 percent.

Growth Boost in Other Philippine BPO Sectors

Hernandez added that 40 percent of services providers said they were growing, another 40 percent see a decline, while 20 percent were not moving. He isn’t surprised that growth forecast is flat this year, but also mentioned some companies that have a problem recruiting people fast enough.

Game development is one of the BPO sub-segments that received a growth boost from the pandemic. Game Developers Association of the Philippines president Alvin Juban said that inquiries poured in when the lockdown began. The gaming industry was projected to hit $150 billion worldwide Pre-COVID, and an extra $15 billion was added to the forecast for 2020.

Sourcefit Philippines Outsourcing News: Philippines BPO Performance to Outpace Economy in 2020



Is outsourcing right for your business? Contact Sourcefit today and get a free consultation from an outsourcing expert.