Philippine Outsourcing Industry Cuts Revenue Target by up to $10bn | In the News

The Philippines’ outsourcing industry is seeing revenue targets for 2022 as much as $9.9 billion lower than initially projected, as it grapples with domestic tax issues and the rise of automation, which has undermined the nation’s call centers.

By 2022, the industry is now expected to grow to between $29 billion and $32 billion, sharply lower than the $38.9 billion initially projected in 2016, according to a study by Texas-based management consultancy Everest Group. The research, commissioned by an outsourcing association, found the industry expects to employ between 1.42 million and 1.57 million people over the same period, down from 1.8 million.

Read more in Nikkei Asian Review

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