BPO revenues up 12% in 2015

Latest data released by the IT and Business Processing Association of the Philippines (IBPAP) showed that the revenues of its members increased 12% last year to an estimated US$21.3 billion. The figure was higher than the USD18.99 billion revenues posted a year earlier, although the rate of increase was slower than the 24% rise in 2014. As the outsourcing industry continues to expand, stakeholders are pushing that the proposal to form a dedicated government ICT department will finally be approved. According to 18 major local and foreign business chambers in a joint letter to current president Aquino, such a department, which many countries have, will provide the appropriate support to help keep the country’s massively important ICT sector on a growth track.