Jose Mari P. Mercado, President and Chief Executive of Information Technology and Business Process Association of the Philippines (IBPAP), told the Philippine Daily Inquirer that the number of jobs the industry has generated reached seven figures this month.
The Business Process Outsourcing (BPO) industry has been a known contributor to the robust economic growth the country has been experiencing for the past decade. Undoubtedly its rapid emergence in the Philippine employment scene boosted the country’s service sector that resulted in excellent growth rate numbers. The industry grew to $15 billion last year from $13.7 billion the year before. With more people in BPO, the number is seen to rise correspondingly.
There were already 930,000 people working under the BPO industry after the first three months of 2014. Mercado reckons that by the end of Q3, there would be an increase of 110,000—enough to meet the targeted number for this year with three months to spare. Expansion and relocation of BPO companies continue to take place in the country and the increase in vacancies in office space caused by the completion of new commercial, IT zone buildings where BPOs are usually housed.
