Over the past ten years or so, industries like KPO and BPO in the Philippines has helped in improving the country’s economy, allowing the country to maintain its place in the global market.
The foundation of this industry is strong, thanks in large part to the hundreds of thousands of Filipinos who are working there. But of course, despite showing great success in the global charts, the future of the BPO industry in the Philippines remains a question.
What could be expected from the country’s promising source of economic stability? Here’s what we know.
A Continuous Growth in the Global Charts
Over the years, business experts and analysts can attest to the fact that the industry’s growth is yet to slow down. With a growth rate of about 6.5%, who says these industries are about to fall?
However, it is worth pointing out that almost all of the multinational BPO and KPO companies in the country are based in the United States, which is now led by President Donald Trump. And unfortunately, Trump has made it a point to rail against companies that outsource job overseas. This, understandably, caused jitters for everyone involved in the industry when he won the presidency.
Nevertheless, it appears that there’s not much to fear in the first place. Investors and stakeholders in the US assured that the said controversy is nothing to be worried about at a meeting last March, with the Philippine Economic Zone Authority (PEZA) Director, General Charito Plaza. In other words, the BPO industry will continue its exponential growth and will continue to provide higher and better figures in the global charts.
Emergence of Animation and Game Development in the Industry
It is without a doubt that the growth of the BPO industry goes hand-in-hand with the growing demand for speacial skills. For instance, there is the emergence of the animation and game development outsourcing which relies on the growing number of visual artists, both startups, and freelancers. It is not without a doubt that investors from the international scene were moved with the Filipinos’ talent in terms of graphics and animations.
While this may be classified as a different sector in the outsourcing industry, it is one of the many things that one can look forward to in the future of the BPO industry. This is due to the fact that this is being supported by local lawmakers and the IBPAP, and is the main focus of IBPAP Roadmap 2022.
An Upgrade in Skills
It could be expected that in the following years, the BPO industry will require a higher skill set from the Filipinos. Why? This is because of the non-stop innovation in various business processes, which includes automation and chatbots, to name a few.
Hence, to help employees from getting adversely affected by these changes, the BPO industry must be committed to providing a higher level of training for their workers.
With this information, it can be concluded that the bright future ahead for the BPO industry is not even in question. It is growing and has more alternatives that it make use of to remain in the global market for longer years.
More so, much can be said that the BPO industry has a lot more room to explore, and a lot more opportunities to offer for the Filipino people in the coming years.