BPO sector forecast to grow 20% yearly over 5 yrs

CLARK FREEPORT, Pampanga, Philippines – Experts expressed confidence that the business process outsourcing (BPO) industry will grow by 20 percent yearly over the next five year.

The Clark Deveopment Corp. (CDC), local investors and BPO experts said Clark will host the 4th International Outsourcing Summit from Oct. 7 to 9.

“It will be a 3-day activity to be attended by at least 100 industry executives, significant analysts and top government officials,” the CDC said.

“This is the right time to declare Clark as the country’s top IT and BPO destination,” said Cybercity Teleservices president George Sorio during a meeting here of top executives of foreign and Filipino corporations based in this freeport.

Business Processing Association of the Philippines (BPAP) executive director for industry affairs Raymond Lacdao, in his briefing during the meeting, cited studies by IBM and Everest Group, citing the Philippines as currently the number one provider of voice services in the world.

Lacdao, added that the country’s non-voice services sector is also growing rapidly, and is now number two worldwide.

Lacdao said the country’s BPO industry, is expected to grow by up to 20 percent yearly over the next five years.

“It is forecasted to produce 1.3 million direct jobs, 3.2 million indirect jobs and $25 billion dollars in revenue,” he added.