Repeating a positive economic trend from 2007, the outsourcing market in the Philippines is expected to accelerate again this year. According to a Reuters story published on Inquirer.net, experts predict the country's outsourcing revenues will grow 43 percent, from the current $4.88 billion to nearly $7 billion.
Outsourcing revenues grew 35 percent in 2006 and 50 percent in 2007. The industry employed 320,000 at the end of 2007, and that number could rise to 920,000 by 2010. The chief executive of the Business Process Association of the Philippines tells Reuters that 200,000 employees could be added during 2008 alone.
While the Philippines has been known mostly as a destination for call centers, experts expect strong growth in other areas of BPO in 2008. The national government is investing 200 billion pesos (U.S. $4.9 billion) in infrastructure improvements and 350 million pesos (U.S. $8.5 million) in industry training initiatives to capitalize on this trend, reports Inquirer.net.
Evalueserve, a financial analytics provider, may set up operations in the Philippines, its CEO tells Inquirer.net, citing a workforce fluent in English and a culture with strong ties to the West as key advantages. Evalueserve employs more than 2,100 workers in India, China and Chile, with another center slated to open soon in Eastern Europe.
Callworkz, an American call center operator, has announced plans to employ 5,000 customer service agents in the Philippines over the next three years, reports the Manila Standard Today. Callworkz will allow agents to work from home, in hopes of reducing the call center industry's traditionally high employee turnover rate.