by: Sidney Liquigan
Thursday, January 10, 2019 | Outsourcing News |
According to commercial real estate service provider Santos Knight Frank (SKF), more and more BPO firms in the Philippines continue to expand by growing their non-voice services portfolio and by taking advantage of new growth opportunities in areas outside Metro Manila, as reported by BusinessMirror.
Chairman and CEO of SKF, Rick Santos, noted that the BPO industry in the Philippines continues to be one of the most competitive in the world and the main driver is the Filipino workforce who are highly educated and proficient in the English language.
Santos also stressed the advantage of lower labor costs in the Philippines. "The average cost per employee in alternative destinations such as China and Mexico is in fact twice as expensive as the Philippines," he said.
Santos believes that the BPO industry will continue to grow both in Metro Manila and other BPO hubs in the Philippines as evidenced by property developers building more offices and business hubs to cater to opportunities and the labor force in the provinces.
Another evidence that backs up this optimism by SKF is the recent deal made in September 2018 between JP Morgan Chase & Co. and Megaworld, which SKF brokered – a long-term lease of 70,000 sq.m. of office space in Bonifacio Global City, one of the prime central business districts in Manila. As of writing, this is the largest single office lease deal in the real estate history of the Philippines in terms of both value and size.
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