MANILA – The information technology-business process outsourcing (IT-BPO) sector in the country has the potential to grow its revenue to $29 billion and add some 160,000 more jobs by 2022, an industry leader said Friday.
The BPO sector continues to become a fast-growing dollar export contributor to the economy amid the pandemic, even in 2020, when most of the firms suffered from losses due to the pandemic, IT & Business Process Association of the Philippines chair Benedict Hernandez said in a virtual briefing organized by the Management Association of the Philippines.
According to Hernandez, the sector’s revenue was at $26.7 billion in 2020, while the current direct employment count is at 1.32 million.
The sector also managed to add 23,000 new hires last year. It has also implemented a work-from-home arrangement to ensure continued service.
During the pandemic, companies invested heavily in the work-from-home setup, such as procuring pocket WiFis, fiber-to-home connectivity and laptops, among others.
“One year into a hybrid or combined office and work-from-home setup, the sector now has data to prove that remote working does not diminish productivity and even security,” he said.
“The ability to adopt new work models, a successful vaccination program, and a more permanent solution to existing obstacles will allow the country to remain competitive in the BPO space,” he added.(ABS-CBN News)
