BPO remains Philippines’ second-highest dollar earner
PALAWAN, PHILIPPINES — The Business Process Outsourcing (BPO) industry continues to be among the highest sources of dollar remittance in the Philippines, second only to Overseas Filipino Workers (OFWs).
During the Sulong Palawan Business Forum, Microsourcing Philippines CEO Haidee Enriquez revealed that the sector generated US$32.7 billion in revenues last 2022, significantly increasing from the prior year’s US$520 million.
The industry also employed 1.76 million Filipinos by the end of last year.
“For every one job generated directly by the industry, two to three more jobs are created elsewhere – janitorial staff, housekeeping… So you can compute how impactful the industry is,” Enriquez stressed.
Further, the Everest Consulting Group ranked the Philippine outsourcing sector at the forefront of the global contact services and healthcare business services market.
Enriquez added that the industry’s expansion attracted two new players to Palawan, with Hello Connect and Cognizant anchoring their operations in Puerto Princesa.
However, the BPO expert underscored the industry’s struggle to secure new talent.
“Year-on-year, it is estimated that there are around 120,000 jobs left unfilled and are going elsewhere even though [the] Philippines is their first option because we do not have the talent,” Enriquez stated.
“So that’s good news and bad news, and a lot more challenges ahead of us,” she concluded.
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