It’s been a year now but a lot of people still don’t understand what Dutertenomics is all about. For some, it is just a mere campaign of the government to boost the Philippine economy. While others simply understand it as the new tagline of the Duterte administration. But, don’t you know that Dutertenomics has a potential impact on the Philippines outsourcing industry? Let’s check it out.
Dutertenomics is the President’s economic and development blueprint for the Philippines. This includes main governance and fiscal policies, comprehensive big-ticket infrastructure programs and upgraded social services targeted to accelerate growth. And, before his term ends, transform the Philippines into a high middle-income economy.
The Impact of Dutertenomics to PH outsourcing sector
According to a real estate official, the infrastructure push will unlock the potentials of property sectors. Not just in Metro Manila but in other regions as well. And, one of the industries that need real estate properties are companies from the business process outsourcing (BPO).
Despite the political controversies and colourful remarks of the Philippines to the US, a lot of foreign investors are getting interested in locating their businesses in the Philippines. In fact, local cities like Cebu, Iloilo, Davao, Bacolod, Pampanga, Nueva Ecija and Baguio are among the most preferred outsourcing locations aside from NCR.
Because of this, millions of jobs will be created for Filipinos, especially the younger population.
Moreover, Arthaland Treasurer and Executive Vice-President Leonardo Po said that the government’s comprehensive tax reform package will also give a big boost to various companies and beneficial for Filipino workers.
On the other hand, the Department of Information and Communications Technology (DICT) is targeting a total revenue of $39 billion and more than 1.5 million jobs for the BPO industry by 2022. However, they encouraged several universities to produce highly-skilled students in preparation for AI invasion. And, outsourced services must be integrated with automation.
‘Dutertenomics to unlock real estate value’ in Metro Manila, nearby regions, News.abs-cbn.com