BPO revenues vs OFW remittances
Will BPO revenues outpace remittances from overseas Filipino workers (OFWs)? The Philippines has been the world leader in the BPO industry since 2010, surpassing India in the global ranking. These figures tell the story:
1.2M
number of Filipinos employed in the BPO sector in 2015
2.4M
estimated number of OFWs working anytime during the period April to September, 2015
$18.9B
BPO earnings in 2014
$24.6B
OFW remittances in 2014, almost 10 percent of the country’s GDP
$21.2B
projected BPO earnings in 2015
$25.6B
OFW remittances in 2015
$25B and $28.9B
expected BPO earnings in 2016 and 2017, when OFW remittances would have been exceeded
—Compiled by Kathleen de Villa, Inquirer Research (Sources: Inquirer Archives/ IT and Business Process Association of the Philippines)
