BPO industry confident of hitting $25-B revenue by 2016

The Philippines’ business process outsourcing (BPO) industry is confident it will hit its target of revenue of $25 billion and workforce of 1.3 million by 2016. This was after it generated $10 billion in revenues in 2013 – a 15% increase over 2012’s revenue of $8.7 billion – according to a Contact Center Association of the Philippines (CCAP) report. The sector eyes a compounded growth rate of 14% to 15% for both revenues and full-time employees in 2014 and 2015.  The Philippine contact center sector is still the largest in the world and continues to be the choice destination for customer relations management. In 2010, the Philippines overtook India as the leading destination for voice services. The United States remains the biggest market for contact center work done from the Philippines, with the United Kingdom, Australia and New Zealand as emerging markets, the CCAP said.

Read the full report here.