The Philippine BPO industry has been a strong economic contributor for a while now. While it wasn’t a smooth ride, the industry still showed immense success. With so much success and growth, one can’t help but wonder where this massive industry is headed.
The future of Philippine BPO is bright as the following developments are to be expected for the industry:
Continuous Growth in the Near Future
The local BPO industry shows no sign of slowing down. Various expert organizations peg a growth rate of around 6.5% for the industry.
Despite political turmoil in the U.S., BPO services will remain among the top exports of the Philippines to the US. In a meeting in Colorado last March, Philippine Economic Zone Authority (PEZA) director general Charito Plaza met with investors and stakeholders, who are familiar with the policies of the US President, assured the country’s BPO industry that there is “nothing to worry about anymore” as far as Trump’s controversial policy is concerned.
The overall skill level of Filipino BPO workers are expected to be taken to another level. As the process automation threatens the job security and the future of both workers and companies in the BPO industry, the IBPAP looks to move the Filipino workers up the value chain of BPO services where the automation won’t be able to affect them.
Another sign that the Philippine BPO industry is committed to higher skill level training is the IBPAP’s strong interest in the Knowledge Process Outsourcing (KPO) sector. The sector requires a lot of expertise and specializations. Expertise in fields like Market Research, Equity Research, and Web Development are in-demand.While there are a lot of qualified Filipino candidates, there is not enough to fill in the KPO demands.
Animation and Game Development Industry
Animation and Game Development Outsourcing is an emerging industry in the Philippines. The Filipinos’ affinity to visual arts and storytelling are catching the attention of international investors. Because of this, more and more foreign companies are investing in the locals’ high skill level.
There are countless animation works being outsourced to Filipino studios and freelancers. A large number of U.S. and Europe-based companies, like renowned gaming publisher Ubisoft, have also set up outsourcing operations in the Philippines.
The industry already has high-profile backers. Senator Bam Aquino acknowledges the impact of the industry in the economy and to local artists. He announced the the industry is the “next big thing”.
The IBPAP likewise recognizes the potential of the industry. Animation and Game Development Outsourcing is one of the key focuses of IBPAP Roadmap 2022.
Robust BPO Hubs throughout the Country
Rural Impact Sourcing, a program which aims to expand the BPO to rural areas, displayed positive results as well. Aside from the premier business centers in the Metro, the constructions of BPO hubs in provinces have started. The provinces of Cebu and Iloilo will soon unveil their local business hubs that could probably rival the business centers of Ortigas, Makati, and BGC.