BPO revenues may equalize OFW remittances by 2016

Thursday, January 19, 2012

MANILA -- The Department of Transportation and Communication has expressed confidence that the country’s business process outsourcing industry will continue to hike its share to the local economy in the next few years.

Quoting a 2011 report from the Business Processing Association of the Philippines, DOTC Undersecretary Rene Limcaoco said the industry is now the second largest contributor to the Philippine economy next to remittance inflows from Filipinos living and working overseas.

The report further stated that the BPO sector contributed close to $9 billion in export revenues last year, representing an approximately 4.8 percent share of the country’s gross domestic product.

This year, the target is $11 billion and by 2016, it is estimated to be at the same level of overseas Filipino workers remittances at $25 billion.

The country has recently overtaken India to become as the world’s biggest provider of call center agents. (Virgil Lopez/Sunnex)