BPO industry in Asia is expected to grow at the annual rate of nearly 14% till 2008
BPO industry in Asia is expected to grow at the annual rate of nearly 14% till 2008, generating six million new jobs by 2015, according to United Nation Development Programme (UNDP)’s Asia-Pacific Human Development Report 2006, released in Phnom Penh.
The global outsourcing market has grown phenomenally from $570 billion in 2002 to an estimated $1.2 trillion in 2006. India accounts for over 40% of the global BPO market. India’s dominant position has meant that services account for nearly 26% of South Asia’s exports. Within services—business process outsourcing and shortterm migration emerge as the most important segments. Of the top 10 BPO destination in the world, five are in Asia.
While India leads the pack other major Asian providers are China, Philippines, Malaysia, Thailand, and Vietnam. Asia’s advantage lies in its growing pool of highly skilled, low cost workers. The 3000-odd educational institutions in India train more than 200,000 software professionals and an equal number of non-engineering English Speaking graduates every year. Add to this, labour shortages in Western Europe and the US on account of their ageing populations. All this has turned out to provide Asia, particularly India an edge.
The employment possibilities from the BPO industry in the future seem immense. An additional advantage that outsourcing has is that it “draws on a wider social spectrum” meaning it is age and gender-neutral. It also has, according to the report, spillover employment effects due to higher demand generated for consumer durables and other services.
The global outsourcing market has grown phenomenally from $570 billion in 2002 to an estimated $1.2 trillion in 2006. India accounts for over 40% of the global BPO market. India’s dominant position has meant that services account for nearly 26% of South Asia’s exports. Within services—business process outsourcing and shortterm migration emerge as the most important segments. Of the top 10 BPO destination in the world, five are in Asia.
While India leads the pack other major Asian providers are China, Philippines, Malaysia, Thailand, and Vietnam. Asia’s advantage lies in its growing pool of highly skilled, low cost workers. The 3000-odd educational institutions in India train more than 200,000 software professionals and an equal number of non-engineering English Speaking graduates every year. Add to this, labour shortages in Western Europe and the US on account of their ageing populations. All this has turned out to provide Asia, particularly India an edge.
The employment possibilities from the BPO industry in the future seem immense. An additional advantage that outsourcing has is that it “draws on a wider social spectrum” meaning it is age and gender-neutral. It also has, according to the report, spillover employment effects due to higher demand generated for consumer durables and other services.
posted by Manoj Jain @ 3:47 AM
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