MANILA -- The Philippines' economically crucial business process outsourcing industry beat revenue and hiring targets last year as tech-enabled businesses expanded and companies cut costs during the COVID-19 pandemic.
Revenue by the call center-dominated sector rose 10.6%, to $29.5 billion in 2021, the IT and Business Process Association of the Philippines said on Wednesday. The industry ended the year with 1.44 million workers, up by 9.1%, or 120,000 new jobs, the IBPAP said. The revenue jump surpassed a 5.5% growth target, and the increase in new hires was nearly double its target of 5%.
