Global advisory firm Tholons released on Wednesday, March 3, the latest edition of its annual global innovation rankings, which showed the Philippines and its capital city Manila dramatically sliding in its competitiveness as a preferred site for BPO locators.
Leechiu Property Consultants cited in particular the increased demand in Iloilo, surpassing Cebu and Clark in Pampanga for the first time.
Despite the pandemic, BPO companies Teleperformance and Afni have inaugurated their newest office sites in Cavite and Quezon City, respectively.
IBPAP president and CEO Rey Untal said the roadmap they bared last year was supposed to have been good until 2022, up until the pandemic threw a monkey wrench to their numbers.
Data from the Philippine Economic Zone Authority showed that from January to July 2020, registered investments from the BPO sector grew 37 percent to P11.4 billion amid the global health crisis.
Internet giant Google has confirmed that it pulled out an outsourced work from the Cebu operations of BPO firm Sykes after a few employees were caught converting online gift cards into bitcoins.
The move is an interesting development as the BPO industry is supposedly under threat from new technologies such as AI.
The Philippine office market has continued to grow “making it unique in the world,” according to real estate firm Leechiu Property Consultants (LPC) in a recent study on the performance of the office, residential, and tourism sectors in the first half of 2020.