The IT-BPO sector remains hopeful pending the approval of the TRABAHO (Tax Reform for Attracting Better and High Quality Opportunities) bill which seeks to lower corporate income tax rate and rationalize fiscal incentives. That is despite the industry’s slower than projected growth rates in recent years.
In its yet to be released 2022 roadmap, the industry disclosed that its recalibrated revenue and employment targets include generating $40 billion worth of revenues, onboarding 1.8 million direct employees, and creating 7.6 million direct and indirect employment.
Rising Above the Challenges
The IT-BPO sector is a game-changer. It has opened doors and continues to welcome foreign investors. It has also created jobs and continues to offer opportunities for the Filipinos. Additionally, it continues to contribute to the Philippine economy. Furthermore, it has helped the country become a popular outsourcing destination.
Although the impact of the government’s proposal to the industry remains to be seen, we can count on the IT-BPO sector to survive and thrive as it always does while it adapts to the changes in the landscape. After all, its history is enough to vouch for its resilience.
Banking on Its Strong Foundation
The high quality of its workforce and services are instrumental to its sustained growth. External factors may have changed from the time the industry entered the Philippine shores. Even so, the strong foundation it was able to build through the years can see it through now and in the years to come.
If you are interested to explore outsourcing solutions Philippines as you seek to expand your global reach and attain more goals in a relatively more cost-effective way, do not hesitate to reach out to our team for some expert advice on the matter. We are looking forward to guiding you every step of the way. You can email your inquiries to firstname.lastname@example.org or call an expert at (PH) +63 02-6571872 / (AU) +61 419 200 663.