Wednesday, July 1, 2015

BPO Revenues Expected to Overtake OFW Remittances in 2017

Posted By: Jessel Munoz - Wednesday, July 01, 2015

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Photo from Sunstar.com.ph
The revenues of the Business Process Outsourcing are seen to overtake the income remittances of the Overseas Filipino Workers in the next two years.

Jose Mari Mercado, president of the Information Technology-Business Process Association of the Philippines, said that the growth rate of OFW contribution was pegged at six percent every year, “the Information Technology industry is growing 15 to 18 percent every year.”

He said that there more than one million people working for the BPO industry in the country.
Citing the data from Bangko Sentral ng Pilipinas, Mercado said that the remittance from OFWs is $25 billion in 2014, and would grow six percent every year.

In the BPO industry, the income last year was $18.9 billion while the target revenue for this year was pegged at $21.2 billion, he said. “By 2017, the BPO would earn $28.9 billion,” Mercado added.

He said “if the growth rate remains, the BPO will overtake the income of OFW in 2017. The number of investors and companies coming to Philippines has not slow down, it’s going up.”

Mercado said that “we have 150,000 jobs to add this year, we need to fill this up. We need another 150,000 next year.”

He said that the biggest challenge in the industry is to always make sure that the talents have capability needed by the industry. “There’s enough graduates in Negros Island. But we have to make sure they have the competencies needed to be able to work for our industry.”

He urged the young people to “go to this industry. Understand that you need to study on something where there is a job waiting.”

Mercado, along with the country’s IT leaders, was in the province recently for the four-day Talent Development Expo today at The District, Ayala North Point, Talisay City, Negros Occidental.


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Lloyd Tronco is a Certified Digital Marketer and Out-Of-Home Media Strategist.  His experience in entrepreneurship started in Bacolod City, Negros Occidental selling home made ice-candy during summers. He currently does marketing consultancy for startups.









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