BPO To Grow to $12.4BN in 4 Years
Posted Friday, January 13th, 2006 7:49 am by Marc Hil Macalua
Viewed 3309 times | Related entries: Outsourcing
Solid news for everyone in the BPO industry. Hopefully, this will mean more higher paying and more interesting jobs for BPO professionals.
The Philippine business process outsourcing industry is set to grow to 12.4 billion US dollars by 2010, slightly higher than previous forecasts of 10 billion US dollars, according to a joint forecast from the Business Process Outsourcing Association of the Philippines, the Bureau of Investments, and the Commission on Information and Communications Technology.
In their new forecast, the average revenue growth rate is about 30 percent starting this year.
The leading BPO services for the next four years are back office, medical and legal transcription, all with annual overall growth rates of 50 to 80 percent.
I’d be happier if the list included other growth areas like search engine marketing, web development, etc.
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5 Responses to “BPO To Grow to $12.4BN in 4 Years”
Alias and Autodesk are now one!
its just a forecast, like how ernie baron says the weather tomorrow is sunny or how madame auring can say that she still has an “asim” factor (what..?) anyway, as technology in the web seems to be not slowing down, and virtual commerce (or e-commerce as some might wanna address it) is in full swing, offshoring IT resources i think will be the major trend for the coming years.. just imagine, hiring a low cost high quality IT designer straight from the customers (US, UK, and Can) desktop computer without the overhead cost.. who would need offshoring firm anymore..
and dont get me started with VOIP..
and it is not just in the area of services where companies would like to outsource according, to BusinessWorld this morning. the Philippines has competitive advantages in logistics and energy outsourcing, according to business consulting firm Frost and Sullivan. even medical tourism, which i believe is also a form of outsourcing, is also expected to boom in the Philippines because of its competitive advantage, mainly in the ability of the ability of the Filipinos to speak the English language well…
I tend to doubt the accuracy of these numbers. If these numbers were based on recent growth and then simply projected it to 2010, I think it is over-optimistic.
Why? Because it is not taking into consideration our biggest competitors in the BPO arena, mainly China and India. True, both countries are at a disadvantage now because of their English-speaking ability, but once they catch up, by sheer population numbers alone they can overwhelm us.
The Philippine business process outsourcing industry should not paint too rosy a picture, lest we succumb to complacency.
maybe.. or maybe not…
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http://www.pinoycallcenter.com
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