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Philippines a top BPO destination

By Phumeza Tontsi
Johannesburg, 05 Oct 2011

Philippines a top BPO destination

The Philippines information technology and business process outsourcing (IT-BPO) industry remained a powerhouse for the country's services sector, as it gained more than $657 million in the second quarter of 2011, reports the Phil Star.

The Bangko Sentralng Pilipinas (BSP) said the figure was more than double the $324 million net receipts registered in the same quarter last year.

According to the Manila Bulletin, the Philippines has established itself as one of the top destinations globally for services outsourcing, being second only to India, the Philippine government said.

Speaking before the members of the board, Trade and Industry Undersecretary for Industry and Investments Cristino Panlilio pointed out that the Philippines' cost competitiveness, excellent telecommunications infrastructure, large talent pool, strong public-private sector partnerships, and relatively low risk perception are among the factors that transnational corporations considered in selecting the Philippines for services outsourcing.

Services outsourcing in the Philippines includes voice business process outsourcing (BPO), non-voice BPO in finance, accounting, medical transcription, and other areas, and information technology - electronic service outsourcing (IT-ESO).

Representing the Asian group, ambassador Evan Garcia, Philippine permanent representative to the UN and other international organisations in Geneva, said three countries - India, the Philippines and China - accounted for approximately 65% of global export revenues related to IT-BPO services in 2009, writes ABS-CBN News.

In terms of licensing activity directed at developing markets, the region comprised almost 80% of the total, measured in terms of royalty payments in 2008.

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