Philippines’ Software Development Industry Posts 27.60% Growth

BY PHILIPPINE STAR ON October 27, 2011 CATEGORIZED UNDER FILIPINO IT PROFESSIONALS | Comments (0)

The software development industry in the Philippines posted a 27.60-percent growth in both export revenue and employment by the end of 2010.

In a report by services and investment advisory group Tholons, the Philippine software services industry export revenues hit $725 million at the end of 2010 compared to $568 million in 2009, which was considered the weakest year for the industry since 2004.

Of this figure, 57 percent of export revenues came from the United States, followed by the United Kingdom with 25 percent. Lesser but still significant revenue contributors to the software industry in the Philippines are Canada (5%), Japan (5%), and Europe (4%). Other markets like Australia, Middle Eastern countries, and those in the Asia Pacific region contributed to 1% each.

The study, “Tholons-PSIA Software Skills Inventory Report” was commissioned by the Philippine Software Industry Association (PSIA) and funded by then Commission on Information and Communications Technology (CICT) to evaluate the status and the current landscape of the local software development and services sector.

PSIA president Nora Terrado said the Tholons study gives the PSIA a full view of the local industry performance. It also provides the organization the information on what areas of improvement it should focus on.

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Source: http://www.pinoy-ofw.com/news/17734-philippines-software-development-industry-posts-2760-growth.html