Philippine outsourcing revenue could hit USD26bn this year – ING

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The country’s business process outsourcing (BPO) industry could generate revenue of USD26bn this year, according to ING Bank. The projection for this year is part of the BPO industry projection for 2020 of about USD40bn and to generate two million jobs, said Consuelo Garcia, managing director at ING Bank Manila Branch. The Philippines is now the global leader in information technology business process management (IT-BPM), with an annual growth rate of 30% over the past decade, according to Trade Secretary Ramon Lopez. The country intends to be the biggest shared services business in the world, together with Poland, Slovakia, and Romania.