Thursday, June 10, 2010

$100 Billion by 2020: The Filipino BPO Industry is on its Way


Indian outsourcing officials recently stated that the BPO industry in Philippines is poised to become a $100 Billion industry by 2020. This is a big compliment coming from a country which has proved itself as a top BPO destination of the world.

Philippines has become a favored outsourcing destination in a very short span of time. The call center industry here has also flourished due to the majority of English speaking population. Outsourcing experts in India feel that Philippines has great potential and that their small population is not a drawback. However, for outsourcing to grow here, emphasis should be made to explore the KPO industry which deals with logical and analytical products. Along with this, the Filipino organizations should train their workforce to be able to deal with such products. Frankly speaking, this applies to every line of work. One needs to keep re inventing himself to stay ahead in the race!

Partnering with countries such as India and China will also be very beneficial for BPO units in Philipinnes. This is mainly because they are established players in the field along with having a huge, experienced workforce. Business Processing Association of the Philippines (BPAP) officials have stated that they are on course to make such dealings and that they are working towards developing a strong workforce to meet future challenges. They are also hosting the first International Outsourcing Summit in October this year.

With the amount of business expected from outsourcing, the call center industry in the country will grow exponentially in the years to come. With great developments in “next wave” cities like Cebu, Iloilo and Davao City, a great number of call center jobs will be created. Philippines is on its way up to become a leading hub for established contact centers and the time is just right for investors to make profitable investments in the country.

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