BPO among main drivers in Central Luzon’s economic growth

Expansion in the business process outsourcing (BPO) and robust overseas workers’ remittances remain the main factors cited for the economic growth in Central Luzon. According to BDO Unibank Inc chairperson Teresita Sy-Coson Central Luzon is growing faster than the rest of the country, with over 7.2% regional real GDP growth from 2011 to 2016. The main factors in supporting growth are the remittances from overseas workers, the rapid urbanization of the Philippine countryside, particularly Pampanga, and the rapid expansion of the outsourcing industry. Sy-Coson said Central Luzon will play a significant role in helping the Philippines retain its position as Asia’s fastest-growing region.