The projection marks a 69% jump from the industry’s current estimated contribution of $36 billion and would raise its share of gross domestic product (GDP) from 8.23% to 10.14% over the next five years.
By 2022, the industry is expected to generate revenues around $29 billion to $32 billion while full-time employees will increase to about 1.42 million to 1.57 million.
To meet these digital challenges and take the first step towards digital transformation, businesses big and small must select the right partner to work with.
At least 30 business process outsourcing (BPO) companies in the Philippines are generating between P1 billion to P17 billion in annual revenues, according to Pasig City Rep. Roman Romulo.
Bank of America Corp. (BA), the second-largest US-based financial holding company with global assets of $2.13 trillion, has directly outsourced its business support activities to the Philippines via a newly formed non-bank subsidiary.
