The thriving outsourcing industry in the Philippines now hits one million employees.
“We just (hit) one million. Still targeting 1.3 million in 2016,” IBPAP president Jose Mari Mercado announced in a press release last Wednesday.
IBPAP or IT and Business Process Association of the Philippines is the umbrella association for the information technology and business process management (IT-BPM) industry and Global in-House Center in the Philippines. IBPA has approximately 300 members, including five associations—the Contact Center Association of the Philippines, Animation Council of the Philippines, Game Developers Association of the Philippines, Philippine Software Industry Association, and Healthcare Information Management Outsourcing Association of the Philippines.
The IT-BPO industry, also called the offshoring industry has significantly increased its workforce size to almost ten times in just over ten years. The Philippines currently has one million Filipinos directly employed by the IT-BPM, up from 900,000 in 2013.
Mercado is confident that the industry will reach $18 billion in revenue by the end of 2014 leveraging the target employment of 1.3 million and revenue of $25 billion by 2016.
Established in 1999, the IT-BPO industry in the country has become second to overseas Filipino workers’ remittances as a source of foreign revenue. The Philippines has already superseded India as a contact center hub and now bolstering the growth of back office outsourced operations such as financial services, software design, gaming and animation, healthcare management services and legal transcription.