Acting Socioeconomic Planning Secretary Karl Chua believes that the Philippines would still remain as an attractive destination for business process outsourcing (BPO) post-pandemic due to competitive wages and a mature BPO sector.
In an interview aired on One News, Chua acknowledged the possibility that more multinational firms may onshore their operations, but he claims that they will still put a premium on cost competitiveness and higher returns.
“The minimum wage here (in the Philippines) is $10 per day or less than two dollars per hour. The minimum wage in those countries that are attempting to bring them back is $8 per hour. So by that you start to wonder whether those plans will really happen. Maybe yes, maybe no,” Chua said.
The acting secretary also claimed that the local BPO sector has matured over the years and has gained a good reputation among investors. “BPOs are very diversified and we have built a brand name,” said Chua