PASAY CITY, Philippines - The country's outsourcing industry generated more than $6 billion in revenues last year, the Business Processing Association of the Philippines (BPAP) said Monday.

This represents a 26-percent growth from the previous year, BPAP president and CEO Oscar Sanez noted in an industry report at the eServices conference here.

"The growth is behind what we expected but still sizable given global economic developments," Sanez said.

The industry also generated approximately 74,000 new jobs last year, according to BPAP.

Sanez said many outsourcing projects late last year were pushed back due to restructuring efforts as companies adjusted to the global economic downturn.

"We've seen rapid growth in non-voice areas like back office, engineering and IT outsourcing, " Sanez said.

He is confident the industry will achieve revenue growth between 20 to 30 percent this year, as companies improve spending on outsourcing.

"We see companies accelerating due to greater focus from CEOs and CFOs to cut costs," he said.

BPAP is projecting $12 billion in industry revenues by 2010, as outlined in its three-year roadmap. It is also targeting to increase the country's global market share from five percent to 10 percent.

Sanez said: "Based on analyst estimates, the Philippines currently holds about 7 percent. Between India and the Philippines alone, it covers half of the market. "

In an interview w reporters, Sanez said BPAP expects at least a hundred thousand new jobs this year.

A government-funded training program, aimed primarily at "near-hires" or applicants who failed in their initial try, is expected to add some 60,000 more qualified workers, he said.