The last Philippines president was elected on May 9, 2016. A major challenge before the new government of the nation was to eliminate the potential hurdles restricting the growth of the booming BPO industry. The Philippines economy recorded six years of continued expansion under the governance of Benigno Aquino III. During his reign, the BPO sector, particularly call-center services, became the primary growth drivers in the economy.
In the last few years, several global companies such as Wells Fargo, Siemens and Verizon Communications have signed outsourcing contracts with the Philippines. The key attraction for these firms has been the fluent English-speaking population of the country.
The connectivity and technology sector have benefitted a great deal from the BPO industry because it is heavily dependent on the use of computers, internet, mobiles and other related services.
Even though the Philippines has emerged as a leading global outsourcing destination, there are still some major structural challenges which need to be addressed. The increasing obesity rate and poor infrastructure have had a significant impact on productivity. While the broad consensus that it is impossible to derail the economic growth in the Philippines, the new president would still need to work on improving the infrastructure for maximizing growth potential.