BPO in the Philippines: Country to sustain 7% growth

BPO in the Philippines: Country to sustain 7% growth

October 18, 2013
bpo-in-the-philippines

There is “nothing stopping” the country’s economy from sustaining a 7% growth this year and next, local analysts say. The BPO industry in the Philippines is one of the major drivers of this growth.
In an ABS-CBN news report, Vice President and Head of Research for stock brokerage firm COL Financial Group, April Lee-Tan, stated that, “We re very positive in the economy, largely because of our huge consumer base. In the Philippines 70% of our GDP is consumption. The drivers remain intact.”
Aside from the outsourcing industry, OFW remittances and other new sources also contribute to consumer spending.
Tan said that aside from these short-term growth drivers, the economy is also benefitting from the country’s demographic dividend. The average Filipino is 23 years old, which guarantees a steady pool of labor in the following years. Tan also noted that the younger generation is not just increasing consumption, but are also aggressive in pushing for financial investments.
The economic growth of the country at first semester was posted at 7.6%, which is higher than the previous government target of 6%-7%. Major analysts and financial institutions, such as the World Bank, have already upped their growth forecasts. Recently, a University of Asia and the Pacific economist even predicted that the country can grow from 7% to as much as 10% within the next 10 years.
The BPO industry in the Philippines is targeting 900,000 employees by the end of 2013 and 1.3 million by 2016. Its expected revenue is $16 billion for this year and $25 billion in 2016.
Open Access BPO is a market leader in providing offshore business solutions. Our company is located in the business district of Makati, Philippines. For more information about us, check out our website or join us on Google+ page.

Leave a Reply

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO1 day ago
Wishing our colleagues, friends and family celebrating a happy #RoshHashanah. May you find joy, peace, and love in this new year.

#WeSpeakYourLanguage #OAHolidays #RoshHashanah5781
Open Access BPO
Open Access BPO1 day ago
Customer data present a rich opportunity for #brands to create lasting impressions upon their target demographic. Here's how you can manage crucial information better to achieve a 360-degree view of your customers: https://zcu.io/VWID

#WeSpeakYourLanguage #CustomerExperience
Open Access BPO
Open Access BPO2 days ago
We are on #LinkedIn! Follow Open Access BPO to catch up on the latest company news, industry insights, features, and blog updates every week.

Like, share, and comment on our posts to find like-minded people who you can exchange valuable conversations with: https://zcu.io/sxAl

#WeSpeakYourLanguage #OpenAccessBPOConnect
Open Access BPO
Open Access BPO3 days ago
Customers gravitate toward fast and convenient purchase methods. Amplify your #CustomerService strategy to ensure #CustomerSatisfaction and avoid getting repeat complaints: https://zcu.io/KWQZ

#WeSpeakYourLanguage #CustServ #CustomerExperience
Open Access BPO
Open Access BPO4 days ago
Having a single view of the customer allows brands to see all the issues encountered by clients. This equips the business with a deeper understanding of customers' problems, enabling faster #CallCenter resolution: https://zcu.io/mag0

#WeSpeakYourLanguage #CustomerService
Open Access BPO
Open Access BPO5 days ago
The growing number of #CustomerService cases resolved via #SocialMedia proves that the Internet has become the go-to channel for new generation consumers. Here's how you can supercharge your brand's social media customer support: https://zcu.io/wzqS

#WeSpeakYourLanguage