More multinationals seek Philippine expansion – CBRE

A growing number of multinational companies are reportedly planning to downsize operations in high-cost locations and expand their back offices in Asia-Pacific, especially in the Philippines. According to a report released by property adviser CBRE, the Philippines continues to emerge as an attractive destination for business outsourcing due to the country’s English-speaking workers and affordable real estate. A survey conducted by CBRE showed that 42% of respondents expressed plans to increase their headcount, with sights on Southeast Asia and India. The survey found that the key factors driving the multinational firms’ office leasing decisions are cost of real estate, quality of infrastructure, and availability of talent. The BPO industry in the Philippines stands to benefit from the trend, CBRE said.