Insecurity in PH affects BPO sector
The Philippine business process outsourcing (BPO) industry is once again tested, as several countries like the US issued travel warnings amid conflicts between government forces and militants linked to the Islamic State (ISIS) in the country’s southern city of Marawi. The looming threat of insecurity has caused jitters among foreign outsourcing firms with significant operations in the Southeast Asian country. The BPO industry is the second largest source of income for the Philippines employing 1.2 million people and generating USD22bn in annual revenue. American firms account for nearly 70% of the outsourced jobs handled by Filipinos, with Teleperformance, Qualfon, and Convergys as major players. Investment pledges registered with the Philippine Economic Zone Authority also fell 26% in 2016.
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