The viability of the offshore market continues to be under scrutiny as organizations are feeling the economic crunch and turning to alternative solutions in order to drive down costs without sacrificing service. XMG , a global ICT research and advisory think tank, recently conducted a study of popular offshoring countries in Asia, including China, India, Malaysia and the Philippines. The study found that the average growth of the IT labor pool in the Philippines for the last five years rests at 10 percent and is forecasted to grow by another three percent in the next two to three years. This study also revealed that despite the steady increase of the IT labor pool, it is insufficient to sustain the total ICT demand in the Philippines, which is projected to grow by 30 to 35 percent full-time-equivalent year-on-year through 2010. Metro Manila will be providing much of the fresh talent, taking up 22 percent of the estimated 50,000 to 60,000 graduates each year. According to XMG statistician Benedict Dormitorio, "There is a clear need to establish additional training institutions and ladderized degree programs by existing universities to boost the dwindling talent supply due to the growth of the Philippine offshoring industry and the migration of IT skilled workforce to countries such as the United States, Singapore, Canada, the Middle East and Europe."
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