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News : BPO in Davao Generates 34,000 Jobs in 2015
Davao City, Philippines, Jan 5, 2016 -- The Business process outsourcing (BPO) sector not only contributes revenues by the millions, it also generates jobs for Davao city ending the year 2015 with some 34,000 jobs created.
Davao City Investment Promotions Center (DCIPC) officer-in-charge Ivan C. Cortez said that BPO for the year 2015 thrived and will continue to boom for the coming years.
"With multimillion investments being poured by the BPO industry to the city through the construction and expansion of more BPO spaces open the creation of more jobs in the service sector," Cortez said.
"We started the year 2015 with 20,000 jobs generated from the BPO industry, now it grows to 34,000 generated jobs," Cortez added.
The job generation by the sector noted a growth of 70 percent from 20,000 of January 2015 to 36,000 by the end of last year.
Cortez said that big part of the generated job is contributed by the voice call centers.
As more creation of jobs across all industries with some 4,880 issued permits to new business establishments in the city, the market for the housing and condominium projects expanded.
He added that the real estate sector of the city will continue to thrive in the next three years and will not reach its saturation point, this not just for subdivisions but also for the high-rise condominium projects as well.
"With more migrants from nearby provinces and regions, market will continue to grow for the real estate sector," Cortez said.
To maintain the upbeat and robust business climate especially in the BPO industry, stability in supply of workforce is needed "Labor workforce production has to be constant because without the labor market, BPO industry might leave the city, it could be a major setback," David Leechiu, a property consultant and former country chief of Jones Lang La Salle (JLL) earlier said.
Meanwhile, DCIPC projected that for the 2016, the first half of the year is expected to more likely post higher growth because of election spending and government spending for infrastructure than the second half because.
"The wait and see attitude will prevail to some investors, especially the foreign ones," Cortez said adding that for the local setting, the city government is not that dependent and may not be that affected by the wait and see attitude of the foreign investors as 95 percent in the city are run by local investors.
Posted by Veronica Silva Cusi, news correspondent
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Published: Thursday, January 7, 2016