Rapid growth in BPO might slow down in 2016

Mar 23, 2016

Year 2016. A year of election in the Philippines can slow down the rapid growth of BPO industry, experts say.

IBPAP (IT BPO Association of the Philippines), Jomari Mercado mentioned to reporters that the industry has been meeting the targets for the 2010-2016 Roadmap for the industry.

The target is 1.3 Million job generation and $25B in total revenues by the end of this year. Current status is that the BPO industry is at 1.2 million, which gives a 100,000 remaining.

Last year, BPO industry generated a million of direct jobs reaching the $18.4 billion revenue, as per the IBPAP. And as of the moment, they are formulating a new road map for 2016-2022 with the help of the Everest Group and 3 other parties.

IBPAP eyes on completing the new road map in the middle of this year.

Given the rapid growth of the industry, IBPAP mentioned a collaboration with Commission on Higher Education (CHE) to concentrate on what language we can develop and offer to ASEAN a multi-language platform in the near future as opportunities for it is at bay.

The continuously growing market of Finance and IT will still be the top players in the BPO grounds followed by the Health sector.

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