March 30, 2016 6:10 pm | Updated 5 years ago.
The International Machines Corp. and the American Express Co outsourcing more and more and more jobs to the South East Nations has led to the surge in the addition of office space in the Philippines. Colliers International forecasts that about 7.6 million square feet of office space will be added this year and about 780,000 square meters in 2017 in Manila, the capital city of Philippines. This boom in the real estate is wholly attributed to the growth in the outsourcing sector.
According to the New-York based Tholons Capital’s List of the most favorite business process outsourcing destination, Manila was ranked second behind Bangalore in India. IBPAP (The IT & Business Process Association Philippines) has estimated that the year 2016 will also see a surge in the revenue from $21.2 billion last year to $25 billion. The number of people engaged in the BPO sector will also record a rise since a large number of companies are outsourcing consulting and technical jobs to the Philippines. Organizations like JP Morgan Chase& Co, American Express, and IBM have opened their outsourcing center in Manila.
Date of Publication: March 17 , 2016.