Investment pledges in BPO industry fall 34% in Q2
Data from the Philippine Statistics Authority (PSA) showed that new investment pledges in the country’s IT-BPM industry dropped 34% in Q2 from the same period last year. In the April-June period, investment commitments in the business process outsourcing (BPO) sector reached P4.9bn (USD97m) from P6.27bn registered in the same period in 2016. Trade and Industry Secretary Ramon Lopez was quoted as saying that the slowdown in investment pledges could be due to companies’ ongoing wait-and-see approach to the outsourcing policies of US President Donald Trump. In Q1, investment pledges in the industry also dropped 34% to P4.18bn from P6.34bn year-on-year.
