The Business Process Outsourcing (BPO) industry in the Philippines is expected to grow in revenues by eight to 13% and in full-time employment by seven and eight per cent this year, said research firm Everest Group and IT and Business Process Association of the Philippines (IBPAP).
In a 2021 industry growth survey, IBPAP Chairman Benedict Hernandez stated that 56% of the respondents are expecting a double-digit growth by year-end, while 38% are forecasting it to hit single digits.
Only six per cent are expecting flat growth in their businesses.
Hernandez credited the resiliency of IT-BPO employees and the government’s policies that allowed the industry to perform well despite the pandemic.
The IBPAP Chairman added that they are now in the process of creating their IBPAP roadmap 2028 that will tackle five key ‘points of contact’ — including accelerated digitization, talent upskilling, ecosystem partnerships, responsive policy regimes, and country brand and competitiveness.
He also noted that they want to work on responsive policy regimes that will allow IT-BPOs to retain their fiscal incentives even as they continue to work from home.