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

News » PH IT-BPO set for rapid growth in next decade

PH IT-BPO set for rapid growth in next decade

PH IT-BPO set for rapid growth

MANILA, PHILIPPINES — The Information Technology and Business Process Outsourcing (IT-BPO) industry in the Philippines is forecasted to grow rapidly in the next 10 years, contributing largely to the country’s economy and employment. 

At a recent FinTech Alliance meeting, S&P Global Market Intelligence Asia-Pacific Chief Economist Rajiv Biswas called the IT-BPO industry “one of the most dynamic” sectors in the Philippines. 

“There’s a lot of room for great optimism about the future prospects for the services sector in [the] Philippine economy,” Biswas added.

The S&P economist also expects the Philippines to attract significant global multinational investments and ultimately emerge as one of the fastest-growing markets in the next decade. 

Moreover, Biswas forecasts the Philippine gross domestic product (GDP) to double by 2030, making the country into a $1 trillion economy by 2033.

While the spotlight remains on the IT-BPO industry, Biswas expects other sectors — such as construction, electronics, automotive, and pharmaceuticals — to follow the same growth trajectory over the next decade.

“One of the fastest-growing sectors will be construction, but many other sectors, including electronics (and) automotive, will [grow] strongly. The pharmaceuticals industry will also be showing rapid growth,” he stated.

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.
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