The Information Technology and Business Process Outsourcing sectors are the fastest growing segment in the Philippines. It was responsible for $25 billion worth of revenues in 2016, which contributed about 17% of the country’s GDP.
In 2015, it earned $21.5 billion, so the growth rate has been pegged at 16%.
It employs some 1.2 million workers directly.
The focus has shifted to high-value IT and BPO services such as business analysis, accounting, engineering consultancy, human resources, legal services, graphic design, animation, software/game development and cloud services. Call centers have turned into contact centers, where employees no longer resolve customers’ problems but provide businesses with value-added services.
The Philippines has a 10% share in the world market, third only to China and India. Interestingly, a lot of work is being outsourced from India to the Philippines. This is because of the Philippines having a greater pool of native English speakers.
Under Rodolfo Salalima, the Secretary of the Department of Information and Communication Technology, there is a roadmap which envisages the number of workers increasing to $1.8 million by 2022. Revenues are also projected to grow and reach $40 billion.