Philippine Outsourcing Industry Expected to Hit $12.2 Billion by 2010

MANILA PHILIPPINES - With the continued global push for outsourcing, the Philippine outsourcing industry projects to employ 920,764 employees and deliver $12.2 billion in revenues by 2010.

Customer care is projected to deliver forty three percent to the industry's total revenues, followed by back office operations at nineteen percent, medical transcription forteen percent, software development ten percent and animation at six percent.

Engineering design, digital content, and legal and other data transcription services will deliver the balance twenty eight percent.

In terms of employment, the Philippine outsourcing industry expects the customer care sector to employ 331,000 jobs; back office operations 299,000; medical transcription 122,000; software development 75,000; animation 41,000; engineering design 21,000; digital content 16,000; and legal and other data transcription 15,764.

This year the business process outsourcing sector projects a fifty percent increase in both revenues and workforce. Revenues are estimated at $3.65 billion, with 244,675 employees, said Philippines Trade and Industry Secretary Peter B. Favila.

Recently Dell Inc., Sutherland Inc., the Resources Group and e-Telecare Global Solutions inaugurated additional business process outsourcing facilities.

The other outsourcing companies that are also coming to the Philippines are Morgan Stanley and HSBC.

FedEx has likewise prominently positioned the Philippines for its outsourcing requirements, particularly for financial services and call centers.

"The Philippines has indeed emerged as a location of choice for the offshore business process and services of foreign companies," noted Favila.

4/06/06

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