2010: One Billion Dollar Software Industry
Posted on August 18th, 2008
Wow! The Philippines stands to earn $1 billion in 2010! All these coming from a single industry, which is the software industry. And this is because of the export of our software. Although this really isn’t coming as a surprise because Filipinos are really a notch higher when it to information technology compared to neighboring countries.
And $1 billion is a big boost for the country’s economy. This information was divulged by Miss Cristina Coronel, president of the Philippine Software Industry Association. This, she said, was based on 30% annual revenue increase, which the industry has been enjoying. Last year’s revenue was at $423 million.
Doing the math, they could actually reach $1.5 billion in 2012 and easily it will be a $2 billion industry by the next year. By targeting US firms, as per Coronel, who are now outsourcing software development to other countries, this is not a remote possibility.
I hope that this will continue to develop and catapult the Philippine’s software industry, and the country’s information technology in general, and thus create more employment and opportunities for our countrymen.
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