Philippine BPO industry poised for recovery in 2019
2019 will see a resurgence for the Philippine business process outsourcing (BPO) sector. The recovery will be largely driven by an increase in wages in the United States, as well as the weaker Philippine peso. According to real estate consultancy firm Leechiu Property Consultants (LPC) such situations are encouraging multinational companies to return to the Southeast Asian country. In its latest survey, the firm noted that companies that diversified away from the Philippines are now starting to reconsider their decisions despite the political risks and once the local business landscape has improved. LPC chief executive David Leechiu said these firms faced difficulty doing business in other places and have realized that it is better in the Philippines. In the last two years some companies have relocated to India, Malaysia, the US, Poland and other parts of Europe.
