Booming BPO industry to boost economy of Western Visayas

The booming business process outsourcing (BPO) industry, coupled with the rising consumer spending and remittances from overseas Filipino workers, will buoy the region’s economy this year, according to the National Economic and Development Authority (NEDA). NEDA is bullish on the economy of Western Visayas due to strong demand from BPO locators. Various BPO outsourcing hubs at the Iloilo Business Park will not only boost Iloilo’s economy but the region as a whole, NEDA said in a statement. Iloilo, a major city in Western Visayas, has been identified as one of the country’s next 10 cities for BPO. The local government of Iloilo earlier approved a comprehensive investment and incentive code aimed at attracting major capital-intensive investments this year.