The business process outsourcing (BPO) industry surpassed its revenue target last year, an industry official said, on the back of the health segment’s strong performance.
“Yes, we did . . . We had almost 1.1 million direct employees and a little less than $22 billion in revenues,” said Danilo Sebastian Reyes, chairman of the IT & Business Process Association of the Philippines.
The estimate, which exceeded the $21-billion target, was culled from over 1,000 BPO companies and was still being validated Reyes told reporters on Wednesday.
In 2014, the BPO sector recorded $18.9 billion in revenues and 1.03 million employees.
At 1.1 million direct employees recorded in 2015, the industry is behind its 1.2-million target in terms of job generation.
The industry was driven primarily by the BPOs in so-called “Next Wave Cities” and by the healthcare sector that accounted for 100,000 workers, Reyes said.
BPO firms in the 10 Next Wave Cities contributed “more than 20 percent” of the total revenue, Reyes added.
The Top 10 Next Wave Cities list, which comprises emerging IT-BPO hubs outside Metro Manila, include Baguio, Davao, Dumaguete, Iloilo and Lipa.