BPO firms continue driving office space demand – C&W
Demand for office space this year will continue to be driven by business process outsourcing (BPO) companies because the Philippines remains one of the top destinations for outsourcing firms, according to a Cushman & Wakefield (C&W) report. Francis Adrian Viernes, head of research and consultancy at Cushman & Wakefield Philippines, said the IT-BPM sector slowed down in 2017, but has been accelerating since, and will account for a huge chunk of office demand in 2019. He added that the IT-BPM sector will continue to regain strength this year because the global uncertainties that prevailed last year do not appear to have negatively affected the industry so far. In Tholon’s Top 100 Outsourcing Destination for 2018, Manila and Cebu ranked second and 11th, respectively.
