News » HSBC tells Philippines to diversify away from BPO

HSBC tells Philippines to diversify away from BPO

Hong Kong and Shanghai Banking Corp (HSBC) said the Philippine economy will continue to be resilient in the next couple of years despite the threat of the protectionist policies of US President Donald Trump. However, HSBC said the Philippines needs to diversify away from business process outsourcing (BPO) to ensure more sustainable growth. Economic expansion would continue despite Trump’s policies against the BPO sector, but the Philippines should not rely too much on the BPO industry to sustain growth, the British bank said. HSBC said the Philippine economic growth will remain robust over the next two years.

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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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Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

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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.