BPO Stands Strong Despite Roadblocks
The PH IT-BPO industry is still growing strong despite threats and potential setbacks. BPO services are among the top imports of the Philippines to the US. The Japanese investment banking company Nomura Securities Co. recently raised its economic growth forecast for the Philippines by 0.4% from its previous estimate, raising the growth figure to 6.7%. The numbers matched that of Philippine government’s own estimate, which is growth of about 6.5%-7.5%.
BPO Growth Has Strong Impact On Overall Economic Growth
The strong upward trend will also continue for the overall economic growth of the country, which grew by 6.9% last year. The London based finance company IHS Markit sees a 6.3% growth for the Philippine economy this year as well.
In order to hit expected growth figures, the government already put programs in place to develop the IT-BPO industry.
Pushing The Physical Boundaries For IT-BPO Industry
To involve the whole country with the meteoric rise of IT-BPO industry, Senator Edgardo Angara promises to push for Rural Impact Sourcing program. With it, rural areas are developed so business process outsourcing and knowledge process outsourcing can thrive anywhere in the country. The senator recently visited and assessed the province of Negros Occidental. He noted that while BPO is starting to thrive in the provinces, there is still a lot of room for improvements.
Japan May Be Key For Better Internet Connectivity
The Philippines may also soon see improvements with its Internet connectivity. The government views Japan as a key figure for raising the quality of Internet services in the country. Japan will provide financial and technical support for government’s feasibility study on National Broadband Plan (NBP). NBP aims to accelerate investments in the country, mobilize and engage public and private sectors, and connect as well as increase adoption and usage of technology tools and solutions all over the country. Department of Information and Communications Technology Secretary announced that the study is expected to be finished before the year ends and start NBP in 2018.
With well-laid plans, sustained growth, clear goals, and clear directions, the Philippine IT-BPO Industry will continue to lead the field globally for years to come.
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