BPO companies also hired 1.8 percent more employees in 2020, for a total of 1.32 million direct employment in the Philippines.ĭue to its IT-BPO industry’s continued growth and promising prospects, the industry, as of today, has spawned bustling business districts throughout the country. The IT industry generated a total of $26.7 Billion in 2020, as BPO companies implemented flexible work arrangements to ensure business continuity during the pandemic. ![]() In fact, data from the IT and Business Process Association of the Philippines (IBPAP) showed that the Philippines’ business process outsourcing industry saw revenues climb 1.4 percent in 2020, even as the COVID-19 pandemic deeply affected the economy. ![]() ![]() The Philippine economy is primarily driven by its Information Technology-Business Process Outsourcing (IT-BPO) industry, and it’s well-poised as a leader in the global industry. This result is deemed as a significant improvement over its 2019 rank of 124th with a score of 57.68 since the Philippines typically ranked low among the world’s economies over the past few years. In the 2020 Doing Business Report from the World Bank, an annual study that measures the ease of doing business in countries around the globe, the Philippines landed at the 95th spot with a Distance to Frontier Score of 62.8.
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