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News » Despite BPO slowdown, PH economy grows 6.7%

Despite BPO slowdown, PH economy grows 6.7%

Despite a slowdown in the business process outsourcing (BPO) industry, one of the country’s key economic drivers, the economy managed to post growth of 6.7% in 2017. Socioeconomic Planning Secretary Ernesto M. Pernia said the GDP growth last year was the fastest in the region after China’s 6.9% and Vietnam’s 6.8%. In the fourth quarter, the economy grew at a slower rate of 6.6%, a pace similar to that of a year ago but slower than the 7% expansion in the third quarter. Pernia acknowledged that the slowing BPO industry, worth USD23bn and employing 1.15 million people, was a “major contributing factor to this decline”.

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Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

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Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

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