Cooling property market could test Philippine economy
International economic watcher Asean+3 Macroeconomic Research Office (AMRO) said that a cooling property market could test the Philippine economy, which is heavily reliant on business offices and online gaming.
The country’s real estate market is largely driven by a boom in the business process outsourcing (BPO) and online gaming industries, and the slowing of these industries could trigger the drip in the market. However, the government earlier said the impact of the slowing BPO and gaming industries will be moderate and manageable as property demand in the country would still be high.
To contain the risk, AMRO recommended that the Philippines deliver structure reforms and focus more on supporting growth while guarding financial stability.
Read more at The Business Times.
Related news
- Foreign investment pledges hit record high in 2019 · 24 Feb
- Central Bank expects BPO revenues to grow 5% this year · 24 Feb
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
