In 2003 the Philippines’ potential as a business process outsourcing (BPO) centre was fully realised after a five-year trial phase. The industry had a compound annual growth rate (CAGR) of 30% from 2006-10, surpassing the 15% global average, according to the Business Processing Association of the Philippines (BPAP). A KEY EARNER: As companies capitalised on the abundant, qualified, English-speaking labour pool, the Philippine BPO industry employed some 640,000 workers and generated some…
Business Process Outsourcing
From The Report: The Philippines 2012
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BPO has been a major growth area for the Philippines. The country benefits greatly from a well-educated, English-speaking labour force and now the industry is looking to crack the higher-value knowledge processing outsourcing (KPO) market, taking on back-office tasks like health care information management and legal transcription. With growth of 10-15% anticipated for the medium term, the outlook for the sector is rosy. Moreover, the BPO boom is sparking development and driving the real estate market in secondary cities, which reduces the economic orientation toward Manila.
This section includes an interview with Lito Tayag, Country Managing Director, Accenture.