The outlook for the Philippine economy continues to be positive thanks to the continued success of several BPO Companies in Philippines. The expansion in the services industry, which includes BPO Philippines; the recovery of the manufacturing sector, particularly the food production sub-sector; and benign inflation are some of the reasons the country posted 6.4 percent growth in 2012’s first quarter. This is according to the report from the National Economic and Development Authority (NEDA).
This Q1 figure is even more impressive when you add the fact that this comes second only to China, which showed economic growth of 8.1 percent in the first quarter. The Philippines’ 6.4 percent growth for Q1 is the highest among Association Southeast Asian Nations’ (Asean) member-states. The NEDA further said that the Q1 gross domestic product (GDP) has exceeded what analysts expected, which was at 4.8 percent; and that the Philippine economy is expected to continue to post impressive figures through the succeeding quarters of 2012, meeting or exceeding the government’s growth targets.
Becoming Even More of a BPO Powerhouse
Just a decade ago, BPO Philippines was far from being one of the major players in the industry, But now, BPO companies in the Philippines have become globally competitive.
Just a decade ago, BPO Philippines was far from being one of the major players in the industry, But now, BPO companies in the Philippines have become globally competitive.
BPO Philippines is growing not just in the voice sub sector but also for other services like graphic design, web design, software development, animation, desktop publishing, composition, typesetting, shared services and legal services. For the software services sub-sector, the PSIA said that the areas that have a vast potential for growth this year are remote infrastructure services, support, maintenance, and application enhancement. And even with the diminished global investment due to the crisis in Europe, according to a top official of Citigroup Asia-Pacific, the Philippines continues to emerge as a vibrant marketplace for M & A (merger and acquisition) and raising capital. And th outlook Farhan Faruqui, Citi, Asia-Pacific’s head of global banking further said in an exclusive interview with broadsheet Philippine Daily Inquirer that because of strong education and language skills, the Philippines’ BPO industry will move to higher value added knowledge process outsourcing.
Statistics shows the continues positive growth of BPO Philippines and Outsource Software Development Services sector.
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It means there is a successful growth in our economy and hoping to last, not only in a short period of time.
ReplyDeleteJacob of BPO Philippines