The outsourcing industry is one of the largest contributors to the global economy, aside from oil and gas. In 2019, the global outsourcing industry amounted to US$92.5 billion, according to Statista. In recent studies, experts see the industry grow by up to US$114 billion by 2025, with Human Resources being one of the lead contributors to this growth.
In the Philippines, outsourcing contributes to the growth and development of the economy. In a latest report, the World Trade Organization states that the BPO industry accounts for 7.3% of the country’s GDP growth, giving millions of jobs to Filipinos. In 2015, the industry employed 1.2 million workers in its wing.