Lack of skilled workforce could hamper BPO’s growth

The Philippine business process outsourcing (BPO) industry could hit a ceiling due to a lack of skilled workers, according to a prominent economist. University of the Philippines economist Benjamin Diokno said the country needs to invest in health and education and create an ample, able workforce to keep the BPO industry growing. He said the BPO industry had been one of the most important contributors to the Philippine growth story, expanding twice as fast as the entire economy. The industry has also helped bring down unemployment from 8% to 6% of the population.