Bacolod’s retail, residential markets buoyed by BPO

The robust outsourcing activity in Bacolod City is expected to further drive the city’s retail and residential property markets. In a report, real estate services firm Colliers International said the continued dynamism of Bacolod City’s business process outsourcing (BPO) industry is driving the growth of the city’s retail sector. The BPO sector is forecast to employ up to 60,000 people by 2022, creating opportunities for retail developments, Colliers added. The report noted an estimated 80% of the city’s fulltime BPO employees are single and about 90% of their salaries is allocated for household expenses, much of which is spent within the city.