BPOs forecast double-digit growth in 2021
A total of 42 Business Process Outsourcing (BPO) firms in the Philippines are expected to register double-digit growth this year due to the rebound in market demand, according to a survey by the Contact Center Association of the Philippines (CCAP).
Citing data from research firm Everest Group, CCAP Chairman Benedict Hernandez said that this optimistic outlook is due to a nine per cent forecasted 2021 revenue growth in the sector, higher than the global market projection of 6% to 7%.
The organization attributed the local industry’s growth to its “ability to expand market share” as it experienced an “uninterrupted year-on-year growth” in the past two decades.
Hernandez added that “if the market is rebounding and growing again [at an] interesting rate, what we’ve seen over the years is the Philippines tends to grow faster than the global market.”
Meanwhile, employment is expected to increase by 8% to 9%, topping the global forecast of 6% to 7%.
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