ASEAN KEY DESTINATIONS
Philippines outsourcing industry grew in first quarter
Data from the Bangko Sentral ng Pilipinas showed that revenue generated by the BPO sector went up by 28.9 percent to $1 billion from the $812-million registered in the same period in 2010. According to the central bank, this resulted from higher net receipts in computer and information and other business services, particularly miscellaneous business, professional and technical services.
The still-robust growth of the BPO sector is boosting the country’s foreign direct investments. Last year, the Philippines outstripped India as the world’s “call center capital” in terms of manpower and income growth.
A multilateral lender had said factors such as low cost, availability of human capital, tax incentives and active promotion of Manila’s capability to provide BPO services would allow the industry to post sharper growth in the years ahead.
The Department of Trade and Industry had said that Australian companies are interested in the Philippines’ information technology and BPO industry.
Based on estimates by the Business Processing Association of the Philippines, the share of the Australian market in the total revenue generated by the local industry has grown from 1.5 percent in 2008 to 6 percent in 2010.
The US remains the top market with a 70 percent share, followed by the United Kingdom and Japan.
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