BPO industry predicted to bounce back two to three months after pandemic
In a survey conducted by property consulting firm KMC Savills, the Philippines business process outsourcing (BPO) and industrial logistics sectors are predicted to bounce back within two to three months in a post-pandemic environment, as multinational corporations seek operational efficiency while e-commerce gains more traction.
KMC Savills senior manager for research and consultancy Fred Rara said that similar to what was seen during the global financial crisis of 2008-2009, the quest to unlock cost-savings and greater efficiency in global operations of multinational corporations could benefit the BPO industry in a post-COVID-19 environment.
Further, of various central business districts in Metro Manila, Ortigas Center will be the most challenging in the office property sector. Vacancy rate is expected to hit 25 per cent in 2021 to 2022, which will jack up the average office vacancy rate in Metro Manila to 10 per cent.
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