• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » Global cost-cutting to boost PH BPO in 2023

Global cost-cutting to boost PH BPO in 2023

cost-cutting to boost PH BPO

MANILA, PHILIPPINES — The global economic slowdown and cost-cutting measures of foreign companies could help boost the Philippine Business Process Outsourcing (BPO) industry this year. 

According to the IT and Business Process Association of the Philippines (IBPAP), the industry could generate US$35.9 billion in revenues and have total full-time workers of 1.7 million in 2023.

In a survey, IBPAP revealed that 83% of BPO companies expect growth in 2023 despite a potential global recession, while 17% remained neutral with their forecasts. 

“Results also showed that organizations will continue to outsource and use global business services this year as a lever to drive some of their cost optimization initiatives,” the agency added. 

The survey also found that most investments would come from the animation and game development sector, contact center agencies, cybersecurity firms, financial technology services, healthcare, internet providers, IT solutions, and shared services centers. 

IBPAP added that Cebu and Davao would continue to be popular information technology-business process management (IT-BPM) locations in the country, followed by Iloilo, Pampanga, and Laguna.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image