BPO companies in the Philippines are expecting to report double-digit growth this year due to strong market demand.
According to the Contact Center Association of the Philippines (CCAP), the positive outlook of these firms was based on the forecast of nine per cent of 2021 revenue growth for the sector. CCAP Chairman Benedict Hernandez noted that the Philippine outsourcing industry has experi-enced an “uninterrupted year-on-year growth” since the 2000s.
In agreement with Hernandez’s statement, RL Commercial REIT Inc. (RCR) President and CEO Jericho Go stated that the stability and resiliency of the local BPO sector is helping the country’s economy recover from the COVID-19 pandemic. The services offered by the outsourcing companiesin the country have put the Philippines on the map as a prime BPO des-tination in the world – even surpassing other competing offshore countries.
To maintain its position as a top BPO location, the CCAP has publicly urged the Philippine govern-ment to adopt long-term policies that accommodate the post-pandemic workplace and the hybrid work model. As per the current laws, certain sector-specific tax breaks are only valid if the bulk of the company’s employees are working on-site. Several outsourcing firms had already expressed their concerns on this issue, saying that a reduced tax break can potentially make the expansion in the country more expensive and drive away foreign investors.
October 7, 2021