Philippine IT Outsourcing Market Seen to Grow Twice Over by 2016
Philippines is now a fast growing outsourcing industry. There are plenty of outsourcing businesses that have flourished in Philippines because the country offers a big advantage to some companies.
According to local industry stakeholders, Information Technology Outsourcing in the Philippines has the potential to double over its global market share by 2016.
Alejandro Melchor III, deputy executive director for Industry Development of the Information and Communications Technology Office of the Department of Science and Technology (DOST-ICTO), said that ITO can be a great benefit to the economy. He describes ITO as a vast industry just like the Business Process Outsourcing (BPO).
Melchor said that the Philippines is the third largest annual supply of technical IT talent in the Asia Pacific Region (next to China and India).
On the other hand, DOST secretary Mario Montejo ITO industry has strongly grew last 2011 at 37 percent and added one billion dollars in revenue, employing 50,000 workers.
Undersecretary Louis Casambre DOST-ICTO is confident that Philippines can double its market share by 2016. Casambre believes that Philippines has the potential to become an ITO destination as they are building up programs ICT Public Private Partnership (iPPP) with the help of PSIA. Nora Terrado, PSIA’s President is confident that Philippines can be a chief for ITO section because there are already plenty of skilled and talented Filipino IT workers in the country particularly to web programming, web designs and Internet marketing.
These facts which prove that outsourcing will continuously grow. Outsourcing has become a big part to the business world and it is a proof that Philippines has been doing a great job regarding outsourcing. Philippines has developed outsourcing and it has grown fast. Philippines has proved that they are one of the best destinations for outsourcing.
By 2016, outsourcing will be a big part of the industry. Philippines will have to prepare for this and now, Philippines has starting to develop when it comes to outsourcing. Philippines will have to maintain its reputation and PSIA’s President is confident that Philippines can maintain this reputation.