The Philippines’ information technology and business process outsourcing (IT-BPO) industry expects to add more jobs and generate $25 billion in revenues in 2016. The Department of Labor and Employment (DOLE) says the BPO sector is well positioned to hit the targets at the industry’s current growth rate, which is faster than the growth rate of the economy.
DOLE secretary Rosalinda Baldoz explained that call centers alone are looking to add about 225,0000 new jobs, while the healthcare outsourcing segment is expecting to hire 100,000 new workers this year. The country’s healthcare outsourcing segment is the fastest growing in terms of employment. Currently, it employs about 87,000 people and generates $3 billion in annual revenues.
The adoption of the International Code for Disease Standards in the United States this year will further boost expansion of healthcare BPO and increase the demand for medical coders. Besides healthcare, the finance and accounting, software development and legal outsourcing segments of the industry also show positive growth.
Baldoz said the country’s young and educated workforce is one of the biggest attractions for investors and multinationals looking to establish operations here.
DOLE, working with private agencies and the International Labor Organization has developed human resource development (HRD) roadmaps for the IT-BPO sector and 22 other industries. The IT-BPO roadmap highlights the industry’s strengths, such as cost competitiveness and government support.
The industry is currently on track to hit its $22 billion revenue target for 2015. The Information Technology and Business Process Association of the Philippines (IBPAP) will release the 2015 results this month.