MANILA, Philippines - The country's business process outsourcing industry (BPO) generated revenues of $8.9 billion in 2010, a year-on-year growth of 26%, the industry association reported Wednesday.
Its biggest sub-sector, the contact center, grew over 21% to $6.1 billion last year, overtaking India's revenues and making the Philippines number one in the world, the Business Processing Association of the Philippines (BPAP) said.
"We achieved robust growth in all major sectors of the industry: voice-based BPO, non-voice business support and complex services, and information technology," said BPAP chairman Alfredo Ayala.
"The Philippines now leads the world in voice-based customer service," added Benedict Hernandez, president of the Contact Center Association of the Philippines (CCAP).
BPAP said the BPO industry employed a total of 525,000 skilled workers and professionals in 2010, up 24% from 2009.
Over the next 5 years, the industry is expected to grow by about 15%, translating to over 2 million direct and indirect jobs and $20 billion in revenues.
"But with greater collaboration from all stakeholders, including government and the academe, we have the potential to grow at 25% a year. This would create 1.3 million direct jobs, 3.2 million indirect jobs, and $25 billion in export revenues," Ayala said.
"The demand is there. It is up to us to ensure we provide the supply," he added.