In the year 2011, the Philippine Information Technology and Business Process Outsourcing industry grew in terms of revenues and employment. The industry ended 2011 with $11 billion in revenues, 24 percent more than in 2010. The BPAP President and Chief Executive, Benedict Hernandez said that 638,000 people were employed in the IT-BP industry. He said that they hit the targets projected their Road Map 2016. This is a good start to our five year plan to grow at an average of 20% a year above projected global annual growth rates of 10% to 15%.
Hernandez said that if this continues at a compound annual growth rate of 20%, the IT-BP industry would be worth $25 billion by 2016, accounting for about 9% of GDP and capturing 10% of the global IT-BP market share. He also, the contact center sector also grew, strengthening the country’s world No. 1 status in contact centers. By the end of 2011, he cited a report by the Contact Center Association of the Philippines that said the sector had 416,000 employees and provides $7.4 billion worth of services.
The contact center sector grew by 21percent and remained the largest sector at 65% of the industry. The Healthcare Information Management Outsourcing Association of the Philippines reported that the HIMO sector employed 24,700 and provided as much as $277 million worth of service to global end users. The animation sector, shrank to $128 million, down 10 percent year on year. The Animation Council of the Philippines Inc. it lost some contracts due to tight competition in back-room animation services, particularly from China which subsidizes animation operations.
The sector maintained its headcount of about 8,600 animators. Hernandez reaching the industry’s 2016 targets would not be possible without the strong government support that they are now experiencing.
REFERENCE:
http://www.gmanetwork.com/news/story/254607/economy/business/philippine-it-bpo-industry-hits-2011-growth-targets
