Outsourcing sector seen to grow 20% annually for 5 yrs

Posted at Mar 20 2011 09:18 PM | Updated as of Mar 21 2011 05:18 AM

MANILA, Philippines - The local outsourcing industry will continue to grow at an average of 20% per year for the next 5 years, according to Oscar Sañez of the Business Processing Association of the Philippines.

This means the industry will possibly hit US$25 billion by 2016 from around $9 billion in 2010.
 
In an interview with Business Nightly on March 17, Sañez said the potential for growth is "tremendous" especially in the non-voice sector.

The industry's Roadmap 2016, which was published a few months ago, said the non-voice sector will multiply 5 times in size, he said.

Non-voice services include areas like finance and accounting, supply chain management, health care, media, legal outsourcing, among others.

The Philippines has already overtaken India in the number one spot in the voice sector, which is basically the call center business.

India, however, still leads the overall outsourcing and offshoring business largely given their scale.