The return of American investment into the Philippines BPO sector is expected to boost both employment and office space demand. According to the American Chamber of Commerce of the Philippines (AmCham), American investors see better prospects for the Philippines this year with strong interests in BPOs, infrastructure, agriculture, manufacturing, tourism, and creative industries.
The upcoming May elections are looming large, and the results could dictate future growth. The outcome of the elections could determine the success or failure of initiatives such as the Department of Information Communications and Technology bill. Investors tend to adopt a wait and see attitude during an election year, but AmCham is encouraging investors to come before the elections for their feasibility studies then come back after the elections.
Office leasing rates are expected to bottom out mid-year and begin to rise towards the end of the year. Leasing demand, which has declined by an average of 30 percent since 2008, may accelerate if proper reforms are put in place. Some companies are already looking ahead to growth in the upcoming year.
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