Philippine outsourcing industry keeps thriving
- Zhao Jiemin, Emmie Abadilla
0 Comment(s)
Print
E-mail Xinhua, August 25, 2012
Philippine outsourcing industry keeps thriving
MANILA, Aug. 25 (Xinhua) -- The Philippines recorded a sustainable and dynamic growth in outsourcing industry in recent years, the research and advisory firm XMG Global said Saturday.
In the 2010-2012 period, the Philippines has seen annual revenue growth of 25.4 percent, 23.6 percent and 15.7 percent in outsourcing sector, XMG said in its 2012 year-end forecast.
This year, the Philippines' outsourcing industry revenues will grow from 11 billion U.S. dollars in 2011 to 12.7 billion dollars, XMG predicted.
However, the Philippines still lags behind two other Asian competitors -- India and China.
The top rung still belongs to India, whose revenues are expected to grow from 59 billion U.S. dollars to 63.2 billion dollars in the same period. China ranks as a close second, with revenues increasing from 45.7 billion dollars to 53.8 billion dollars.
In the same time frame, India showed a declining trend, with 13. 2 percent, 8.6 percent and 7.1 percent revenue growth versus China 's growth of 43.5 percent, 63.6 percent and 33.0 percent.
In 2010, India's revenues were 18.6 billion dollars more than China, but by 2012 the difference was down to 9.4 billion dollars, a significant reduction.
On the other hand, the Philippines modest contribution rose from 8.9 billion to 12.7 billion dollars; a not-so-insignificant 43 percent increase in revenue. That is only slightly lower than China's 50 percent revenue increase.
"This trend suggests new opportunities for other players to gain market share as well since the growth of the offshoring outsourcing industry will remain relentless," XMG underscored.
The bottom-line is the offshoring outsourcing market is positioned to continue to thrive and grow, but the relative positions of the respective players is changing, it added. Enditem
Go to Forum >>0 Comment(s)