Over the last two decades Business Process Outsourcing has been catering to various industries such as Retail, Insurance, Mortgage, Banking and Finance, Healthcare, Telecommunications, Technology, Travel and Hospitality and more.

Firms today are consolidating and standardizing operating processes by outsourcing the business process to third parties that offer economies and focused management expertise. In the present scenario many UK and US based companies are looking at countries like India, China, Russia and Philippines to outsource their business processes.

Offshore BPO is predicted to grow at a significant rate per year. BPO within Asia-Pacific market is expected to display a growth rate of about $14 billion by 2010.

Future of BPO in India: The business of BPO in India will be booming in the future since there will be five -fold growth over the next 5 years. According to a study, ‘Roadmap 2012 - capitalising on the expanding BPO landscape’, conducted by Nasscom and Everest Group, the revenue of the Indian BPO industry is to touch $ 50 billion and this will add 2.5 % to the Gross Domestic Product by 2012. Currently, the sector employs 7 lakh people, and has annual revenue of about $ 11 billion. Over the next 5 years the BPO industry will give employment opportunities to about 2 million people.

Future of BPO in China: According to some sources, the call centre industry in China is expected to grow by 22% this year and will reach to 28 billion dollar revenue by 2010. The industry will give employment to around 158,000 people including bank services and technical support staff for IT companies. Multinational companies are attracted to set up more BPO firms in China owing to high productivity and cost-effective human resources.

Future of BPO in Russia: In the present scenario many companies are banking upon Russia’s outsourcers wish to have a large number of BPO firms. Russian outsourcing is known for cost effective quality services which gives the clients all good reasons to hire Russian BPO firms. Russia is emerging as a skilled back office administration to the world’s leading corporations.

Future of BPO in Philippines: Business process outsourcing or BPO is an emerging industry in the Philippines. Since 1980s service sector has seen good growth in Philippines. Employment of labor force has seen a major shift from agriculture to service sector. Philippines business process outsourcing (BPO) industry is going strong and it has been estimated that by the year 2010 the BPO industry revenues will be approximately US$12 billion. Also the industry will generate one billion jobs by 2010.