The growth of the Philippines economic might slow down in the next two years because of Business process Outsourcing stated Credit Suisse. Michael Wan, an economist at the company, said it is because of a variety of things – like political issues between the administration and U.S. president, ecozone permits and lack of skilled workers.
He predicted that the growth forecast will decrease into 5.9 percent only rather than 6.2 percent. He added that it will cut the GDP growth between 0.2 to 0.4 percent. This will greatly affect the economic state of the country and the standing of the Philippine peso.
The slow rate of revenue might continue, Wan said. It would be because half of the workforce can and might be automated in the near future. It is also because of the tax incentives, rising wages, and staffing needs that international BPO don’t want to deal with in the country.
The mayor of Cebu city has told the reporters that they are planning to build a call center city in the South Road Properties (SRP). Within six months, the city will propose a design and basic concept of the place, said Mayor Tomas Osmeña.
Mayor Osmeña has been meeting different BPO owners and operators to make the project come true. He is also meeting with call center agents to know their sentiments about the design because they are the ones who will use it and will ultimately benefit from it.
There will be different buildings for the BPO offices. There will also be a residential area and schools for the agents. Shopping area and restaurants will be added for leisure. All of it will be constructed in the Pond A of SRP, stated mayor.
There will be more high-skilled level jobs available in the BPO industry in the next coming years. Since Artificial Intelligence will take over the simpler tasks, BPO companies are going to hire employees and staff for a much more difficult job.
The mid-high level jobs will increase by 20 percent, from 53 percent to 73 percent by the year 2022. BPO jobs will reach 1.18 million in 2022, said Contact Centre Association of the Philippines (CCAP).
Since the global market is growing and the Philippines’ market is growing together with it, there is no need to worry about it. The Contact center industry in the country will continue to increase in size. There will be 70,000 jobs each year in the next five years, stated CCAP Chairman Benedict Hernandez.
However, those jobs will be harder to get because it is not like the entry-level jobs call centers have these days. Skills need to be polished and upgraded.