BPO office space demand to soar this 2019

Posted on Thu, 03/14/2019 - 14:41
Image
Demand for BPO office space to rise this 2019
Body

BPO office space demand is expected to boost this 2019, according to Leechiu Property Consultant (LPC) CEO David Leechiu, mainly due to the promise of “tens of thousands of jobs” committed by big BPO brands based in the United States.

“They gonna set up office (here). They are gonna hire people like crazy and be operational within the next nine to 18 months and these are big facilities,” Leechiu said last December 2018.  

This is good news for the industry considering that BPO demand for office space has been declining since 2016. This, said Leechiu, is due to the post-diversification route that the US has done in the past 2 years and now — they’re back. One of the main contributing factors for this is rising labor costs in the US.

In order to make the most out of this expansion, Leechiu notes that the government specifically has to promote more Philippine Economic Zone Authority (PEZA) zones. Retooling of people, investment in education, and compromising tax incentives are also ways to push forward with this potential.