Philippine BPO industry exceeds 2015 target

The Philippine business process outsourcing (BPO) industry has exceeded the revenue target last year, hitting about USD22bn in revenues. Danilo Sebastian Reyes, chairman of the IT & Business Process Association of the Philippines, said the industry exceeded its USD21bn target on the back of the health segment’s strong performance. The industry also generated almost 1.1 million in direct employment from over 1,000 BPO companies in the country. He added that the industry was primarily driven by BPO companies in the so-called “Next Wave Cities” and by the healthcare sector that accounted for 100,000 workers. The BPO firms in areas identified as “Next Wave Cities” accounted for more than 20% of the total revenue last year, Reyes told reporters.