BPO Industry Continues to Boost Philippine Economy

With the business process outsourcing (BPO) industry, especially the call center services, still gaining more revenue, the Philippine economy will continue to skyrocket. In addition to that, President Benigno Aquino and the low interest rates also add more confidence to investors, both foreign and local.

BPAPAccording to the chairman of the Philippine Property services, Rick Santos, this increase and growth in the economy contributes a lot to the demand for office space and real estate in general. During a meeting in Makati, he said that 10 or 12 years ago, we basically had zero in the Business Process Outsourcing industry, but now the stat and figures in BPO revenues are simply astounding.

He added that the lower levels in the government have considerably affected the GDP stat through their spending, but still the domestic economy is doing pretty well.

Good Governance

The Philippine President, Benigno Aquino, is also a huge reason why many foreign investors have a lot of good things to say about the Philippine government, and why they are very optimistic that the country would be a great location for putting up businesses for the next four or five years.

Lower Rents

With rents in other Asian cities 14 times higher than in Manila, most especially Cebu, the country can expect a rise of demands for call center outsourcing office space and the Philippine property in general.

Many U.S. companies continue to downsize and cut-down on their operational costs and outsourcing their businesses to the Philippines has been a perfect solution to their needs. They will be outsourcing more workforces and call center services to countries like India and the Philippines.

Santos said that there has been considerable take-up of office space here compare to other known business centers and cities around the world.

The country can expect greater number of turnout, which can exceed the 300,000 square meters mark within this year. According to Santos, this is a huge metric compare to the 150,000 square meters projected for office take-up in Singapore, which is another hot market in the world today. This is more great signs indeed for the economy, and most especially the business process outsourcing in the Philippines.

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