Philippines Outgrowing India & China in Outsourcing
The Philippines’ business process outsourcing (BPO) industry is expected to post a compounded annual growth rate (CAGR) of 62 percent, outgrowing three other primary destinations: China, India and Malaysia.
The results of an intelligence report by independent ICT research and advisory firm XMG showed that the Philippines is poised to generate revenues of $4.1 billion by yearend to corner 1.4 percent of the global market.
“The Philippine outsourcing industry has far exceeded all analyst expectations,” XMG founding president and chief analyst Lauro Vives said in a statement. “The Philippines is experiencing an unprecedented growth rate of 62 percent CAGR, and will surpass Malaysia.”
Malaysia’s revenue forecast by year-end is estimated at $3.6 billion, achieving 38-percent growth and cornering 1.2 percent of the global market share. In 2006, Malaysia and the Philippines was neck-and-neck with 1.04 percent and 1.02 percent, respectively, of the share of the global revenue pie.
XMG’s market study also scrutinized the performance of two other top Asian offshore locations, namely India and China.
