The Information and Communications Technology (ICT) and the Business Process Outsourcing (BPO) sector in Sri Lanka is eyeing revenue of $1 billion by 2015 and $5 billion by 2020, and poised to become the country’s largest foreign exchange earner, a report in the government website showed.
Quoting figures from the Institute of Business Process Outsourcing (IBPO), the report also said the sector generated more than $400 million export income in 2014.
Set up by the Youth Affairs and Skills Development Ministry in collaboration with the National Youth Corps (NYC), IBPO is the country’s first training institute for Business Process Outsourcing, which aims to attract as many youth to join the industry in the next two years.
It offers skills training in back office operations, customer care, finance and technical support in industries such as hotels, travel, telecom, BPO, call centres and financial services.
According to the IBPO, the industry forecast for revenue growth can be realised only if his industry can increase its BPO talent-pool annually by at least 15,000-20,000 for the next two three years.
“Looking at the prospects in the BPO sector, the Sri Lankan government is all set to provide an environment that is conducive for the growth of BPO industry,” it said in its website.
Meanwhile, the Sri Lankan Association of Software and Service Companies (SLASSCOM) is also committed to supporting the growth of the industry.
Last November, Sri Lanka won the National Outsourcing Association (NOA) Offshoring Destination of the Year Award 2014 in London, which SLASSCOM said validates that the country as a destination for outsourcing of information technology and Business Process Management.
Jayantha De Silva, Chairman of SLASSCOM, said in a news release that winning theaward for two years in a row has put Sri Lanka on the map, especially in niche markets of Product Engineering and FAO.