Amidst the gloom from the global financial crisis. The Philippines economy is still holding on thanks to the buffers implemented by the government and the economic managers. Right now, reports of job losses are not that staggering but are still manageable compared to what is happening in America wherein over millions of people lost everything in the previous months. Somehow local businesses are still very optimistic with the current situation happening around the globe with the election of President Barack Obama and its implemented economic stimulus package in order to help the U.S. economy recover from recession. Recently, the U.S. government admitted that its economy has been in recession since December 2007.
The Philippines is still and will experience slow growth on its first quarter with a percentage of around.
Business Process Outsourcing Companies or Call Center are still in growing even with the global financial crisis as more jobs are being outsource from abroad. Right now due to constraints and budget cuts. Majority of BPOs located in commercial business districts such as Makati, Ortigas, Libis, Cubao and Bonifacio Global City (Fort Bonifacio).
With slow growth in the construction and infrastructure industry. Inventories of real estate properties are still high and in-demand. Developers are looking forward in finishing their projects to make viable to their clients. Ready for occupany units of residential are in high demand these days.
An example of these are warehouses. Most of these warehouses are converted to BPO offices located closeby or within proximity of CDBs. in which it is just a few minute ride from the main city. Residential condominiums are much in demand as well within CDBs on wherein people working in these area prefer nicer and more comfortable space closer to their confines and conveniences.
Condotels are something to watch out for as prime investment with the buildup of major belt in the Philippines in Metro Manila and nearby provinces.
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