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Reuters
First Posted 18:41:00 02/11/2008
MANILA, Philippines -- The country’s outsourcing sector expects industry
revenues to rise about 43 percent to nearly $7 billion this year, up
from $4.88 billion in 2007, supported by new investments, an industry
official said on Monday.
Oscar Sanez, chief executive of the Business Processing Association of
the Philippines (BPAP), told reporters that some 12 companies in the
outsourcing business were likely to sign new deals this year, and drive
up industry revenues and employment.
"They may not be enough but they are a good start," Sanez said of the
possible investments in the sector this year, adding that most of the
activities involved back office operations such as in finance and
accounting.
The Philippines ranks second only to India as the biggest supplier of
outsourcing services, with global demand valued at about $80 billion
last year.
The sector wants to generate $13 billion in revenues and employ 920,000
people by 2010 as part of an industry roadmap.
Industry revenues have grown 35 percent and 50 percent in 2006 and 2007,
respectively, as foreign companies tapped cheaper local talent and
location for their back office operations.
The industry employed 320,000 at the end of 2007, and Sanez said
additional investments this year could add 200,000 more jobs. (Reporting
by Rosemarie Francisco, editing by Jacqueline Wong)
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