REVENUES of the country’s information technology-business process outsourcing (IT-BPO) industry expanded at a robust rate of 13.8 percent in 2013 from a year earlier, a central bank survey said.
Results of the Survey of IT-BPO Services conducted by the Bangko Sentral ng Pilipinas (BSP) showed that total revenues of the industry reached $15.3 billion in 2013, higher than the previous year’s $13.5 billion.
All sub-sectors — contact centers, transcription, animation, software development and other BPOs — posted positive growth in revenues in 2013, it said.
The survey said the top revenue earner was contact centers which earned $8.4 billion, accounting for more than half of the industry’s total receipts.
“The sub-sector was also the main driver of growth, contributing 6 percentage points to the total 13.8 percent expansion in industry revenues during the year,” it noted.
The BSP survey also showed that total earnings from the export of services of the IT-BPO industry rose 13.4 percent in 2013 to $14.2 billion from $12.5 billion in 2012.
“Export receipts constituted 92.6 percent of the total revenues of the industry, slightly lower than the 93 percent share posted in 2012,” it stated. Contact centers continued to generate the highest export receipts, accounting for a hefty 53.5 percent share of the industry’s total exports in 2013.
The survey said THE United States remained the biggest market of IT-BPO services exports at 73.9 percent share.
The survey said equity capital investments in the industry grew at a double-digit rate of 14.2 percent at end-2013 to reach $8.4 billion.
Meanwhile, it noted that foreign equity capital infusion amounting to $7.8 billion represented 93.4 percent of total equity capital investments in the industry.
All sub-sectors posted moderate declines in foreign-to-total equity ratios compared to those registered in the previous year.
In terms of job generation, the BSP survey said local IT-BPO industry’s total employment reached 851,782 in 2013, maintaining a double-digit growth rate of 10.6 percent.
Contact centers remained the top industry employer, with a 62.3 percent share, and also the key driver of employment growth, contributing 5.6 percentage points to the 10.6 percent rise in total industry employment.
A total of $7.9 billion compensation was paid by the local IT-BPO industry in 2013, 16.2 percent higher than the $6.8 billion registered during the previous year.
The industry’s annual average compensation per employee in 2013 also rose by 5.1 percent to $9,297 from $8,849 in 2012.
The survey said software development remained the top paying sub-sector in the industry, with an annual average compensation paid of $18,453, which is 6.2 percent higher than the $17,383 annual average compensation posted in the previous year.