Revenues generated by the Philippines’ information technology and business process outsourcing (IT-BPO) sector increased 23.59% to $11-B in 2011 from $8.9-B in 2010. But while the 2-digit growth rate is still robust, it showed a prevailing trend: the sector’s pace of growth is slowing down. In 2010, the sector grew 26%, according to BPAP’s data. Already, that was slower than the whopping 46% year-on-year increases in 2004 and 2006. The Bangko Sentral ng Pilpinas noted that growth dropped significantly from 50.3% in 2007, 44.8% in 2008, and 30.6% in 2009.
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