The Philippine business process outsourcing (BPO) sector reported a $26.3 billion revenue in 2019, or a 7.1% jump from the previous year, according to the IT and Business Process Association of the Philippines (IBPAP).
Additionally, the industry also increased the number of its full-time employees (FTE) by 71,000, bringing the total industry headcount to 1.3 million. The sector’s headcount has increased by 5.8% compared to 2018.
IBPAP said that the growth in 2019 was driven by large incumbents that continued to expand not only in Metro Manila but also in strategic delivery locations in the countryside like Bacolod, Cebu, Davao, Iloilo, Laguna, and Pampanga. These companies accounted for 51,000 of the additional FTEs tallied last year.
There were also a considerable number of new investors and locators that set up their operations in the country that contributed to last year’s growth. Half of these provide services in healthcare, finance and accounting, human resources, information technology (IT) and software, and content moderation.