THE information technology and business-process outsourcing (IT-BPO) industry is likely to exceed its target of raking in $25 billion in revenues by 2016 due to the faster year-on-year growth of 19 percent that it has been experiencing.
Jose Mari Mercado, president and chief executive officer (CEO) of the IT and Business Process Association in the Philippines (Ibpap), said that for the year, revenues are expected to reach $16 billion by end-2013, while the number of employees is seen to hit 960,000.
“With a current 19-percent year-on-year growth, we are tracking faster improvement,” Mercado said at a news conference of the International Outsourcing Summit on Monday at the Shangri-La Makati.
He also said the Philippines is positioning to become a global hub for finance and accounting services, with the growing demand abroad and a talent supply of 3,000 new graduates every year in those fields.
Mercado said the 1.3-million target for 2016 for direct employees in the IT-BPO industry is also likely to be met.
He said the IT-BPO industry in the country is also expanding services for game and animation services to meet the increasing demand from new markets.
Industry leaders from the United States, Malaysia, Belgium, Singapore, Colombia, Brazil and Sweden are now in Manila for the three-day International Outsourcing Summit from October 6 to 8 at the Makati Shangri-La.
Ibpap Deputy Executive Director Monchito Ibrahim of the Information and Communications Technology Office of the Department of Science and Technology (DOST) said the biggest challenge of the industry is to promote inclusive growth and allow those in the provinces to benefit from the industry.
He said the Ibpap and the DOST are now coordinating with the Commission on Higher Education (CHED) to augment skills supply in the 10 identified new wave cities for the IT-BPO sector.
Ibrahim said 73 percent of IT-BPO operations are in Metro Manila and the challenge is to make the share 60-40, thus, creating 520,000 IT-BPO jobs in the countryside.
The 10 new growth sites for IT-BPO hubs include Baguio City, Iloilo, Cagayan de Oro, Santa Rosa, Laguna; Davao, Dumaguete, Metro Cavite, Metro Rizal, Naga, Bulacan and Cotabato. –Estrella Torres, Businessmirror
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