Global Downfall, Not To Affect Bpo Growth
The Business Processing Association of the Philippines (BPAP), in a briefing, said revenues could surpass targets next year because of this development. This year’s goal of 35-40% growth in revenues to $7 billion remains on track, officials said, even as a global crisis rages. “We are part of the solution, not part of the problem,” BPAP Chief Executive Officer Oscar R. Sañez said in an interview.
The group’s Roadmap 2010, which it launched late last year, targets annual growth of 40% with revenues hitting $12 billion in 2010 and a workforce of close to a million people, from less than $5 billion in revenues and 300,000 employees last year. Revenues for 2009 were projected to grow to around $9.6 billion “but we may pass it,” Mr. Sañez said. By 2010, outsourcing is expected to grow to a $130-billion global industry. The BPAP expects to service around 10% of this market by that time, with the Philippines as the world’s second largest outsourcing destination next to India.
“This is an industry that is bringing good news to the Philippines as a destination for [foreign] investments,” Mr. Sañez said. Canadian research firm XMG, Inc. recently slashed its growth outlook for the global outsourcing sector to 24.2% from 34.7% annually until 2010 as a result of the global economic slowdown. The growth projection for the Philippines’ BPO industry was also downsized to 25.6% from 31.2% . Full News