BPO revenues to outpace OFW remittances by 2018 – ING Bank

REVENUES from the business process outsourcing (BPO) sector are likely to outpace remittances from overseas Filipino workers (OFW) even amid the threat posed by US President Donald Trump’s protectionist stance, which could slow American BPO investments in the Philippines, ING Bank Manila said.

“We think both OFW remittances and the outsourcing sector will continue grow. But by 2018, revenues from the outsourcing sector will outstrip revenues from OFW remittances,” Joey Cuyegkeng, ING Bank Manila senior economist, said during a press conference on Wednesday on the bank’s global economic outlook.