The Philippine information technology-business process management (IT-BPM) bagged $164 million worth of new contracts over the last 12 months despite the pandemic.
In her presentation at the 1st Hungarian-Philippine Online Business Forum on Wednesday, Board of Investments executive director Corazon Dichosa cited this report from Outsource Accelerator which said these additional requests for outsourcing will require 5,400 full time jobs.
Dichosa said this highlights the potential of the industry to add another 130,000 full-time employees (FTEs) between this year and next, amid a slowing global economy due to the effects of the new coronavirus disease 2019.
Manpower grew by almost 6 percent in 2020, bringing the total industry has come for 1.3 million.
Revenues are projected to hit $29 billion by next year from $26.3 billion last year.
“The Philippines is a top tier destination for IT-BPM services, and remains one of the leaders in the global industry ranking first in voice related services, second in non-voice, and accounting for 13 percent of global market share,” Dichosa told delegates. Dichosa also cited the Tholons Global Innovation Index which ranked the Philippines 18th among the 50 digital nations.
In the same event, BOI managing head Ceferino Rodolfo revealed the Philippines continues to attract foreign direct investments.
From January to May 7, the BOI’s FDI tally rose 48 percent.
Rodolfo did not disclose the figure.
