Greater things are yet to come in the Business Process Outsourcing (BPO) sector in the Philippines. Once dubbed as the newest “Sunshine Industry” a decade ago, the Philippines is expected to further grow this year with revenues projected to hit $25 billion, with economic activities and multi-million investments reaching the outer side of Metro Manila.
Celebrating the country’s milestone in BPO, an article from Rappler reveals how it all began—from a single contact center to the giant sector it is today.
1992 – Frank Holz, under the Accenture group, created the first contact center in the Philippines
1995 – The Philippine Congress passed the Special Economic Zone Act, lowering area requirements for development and offering tax incentives to attract more foreign investors
1997 – Sykes Asia set up shop and becomes the first multinational BPO company in the Philippines
1999 – Jim Franke and Derek Holley found eTelecare, more popularly known as the first call center in the country
2000 – The BPO industry accounted for 0.075% of the country’s GDP
2001 – PeopleSupport, a US-Based outsourcing center, restructured their business, and moved their operations to the Philippines, providing 8,400 jobs
2003 – The Convergys Corp. opened up two call centres in the Philippines. The Philippines, along with India, was chosen by then president of the company, Jack Freker, as part of the company’s global expansion and revenue generation plan
2005 – The Philippines gained 3% of the global BPO market, which accounted for 2.4% of the country’s GDP
2006 – ePLDT Ventus was at the forefront of the local BPO landscape
- This improved the Philippine domestic economy by 5.4%
- 11,000 people were employed across North America, Europe, and Asia
2010 – The Philippines was declared the world’s BPO capital!
- 525,000 employees in call centres
- $8.9 Billion in revenue generated
- Revenues are expected to soar with a five-year compounded annual growth rate (CAGR) of 38%
- The country continues to become an attractive location for foreign investor
2011 – The BPO industry becomes one of the biggest and fastest growing job providers in the private sector
- $11B revenue generated and 638,000 Filipinos employed
- Revenue comprised 4.9% of country’s total GDP
2012 – The BPO industry grows even further
- BPO industry grew by 46% annually since 2006
- Revenue comprised 5.4% of the country’s total GDP
2013 – Revenue generated climbs up further to $15.5B and 900,000 Filipinos are employed full time
2016 – BPO industry is projected to generate 1.3M new jobs, with 17% annual growth
A thought leader in the Philippine IT-BPO industry, BPSource, Inc., aims to be the preferred strategic business solution provider in the country, by providing the quality foundation of the big, and the agility and flexibility of the small. Follow us on Facebook for the latest news in the IT-BPO industry.