Philippine BPO revenues this year to hit USD21bn

The business process outsourcing (BPO) industry in the Philippines continues to grow at a rapid pace, with experts forecasting that the industry will generate revenues of over USD21bn this year, according to a report published by the Philippine Star. The report quoted Pinnacle Real Estate Consulting Services Inc as saying that the country’s BPO industry will grow higher this year from last year’s USD18.9bn and will even expand in 2016, where it is expected to post revenues of USD25bn. In terms of employment, the consulting firm revealed that the BPO industry in the Philippines will end 2015 with about 1.2 million employees. Another 100,000 workers are expected to be added into the industry next year.