Taiwan Scheduled to Undergo 11th Vaccination Round
Taiwan’s Central Epidemic Command Center (CECC) recently announced guidelines for the 11th round of COVID-19 vaccinations. Those eligible for the first dose of Pfizer-BioNTech, and the second dose of either Moderna or AstraZeneca PLC respectively may start booking their appointments next week. Questions were also raised on whether different vaccine brands may be taken as […]
Daily COVID-19 Cases in Malaysia Continue to Stay Below 10,000
The Malaysian Ministry of Health declared that 9,380 new COVID-19 cases were detected in the last 24 hours, accounting for a 6.4 percent increase from the previous day’s record of 8,817 cases. This is also noted to be the fourth day in a row of recording less than 10,000 cases. The breakdown of cases according […]
BPO Market in India Expected to Hit $8.8 Billion by 2025
India’s BPO market is currently set to reach a valuation of $8.8 billion by 2025, growing at a CAGR of 5.8%. New guidelines given by the Indian government earlier this year for BPO and ITES industries regarding remote work allowed BPO firms to “improve scale and speed of services.” These have also helped India become a tougher competitor in the industry against other countries such as […]
Indian Government Exempts BPO and KPO Sector Relieved of 18% Goods and Services Tax
The government has recently announced that the BPO and KPO sector will no longer be considered as intermediary services, resulting in the absolving of the 18% GST. The Central Board of Indirect Taxes and Customs (CBIC) also explained that intermediary services are only applicable to those who supply to or receive services from locations outside […]
Philippine BPO Industry Remains Stable and Resilient Amid the Pandemic
Outsourcing has always been and will always be a reliable way for companies to cut costs while still attaining quality services. When the economy is doing well, business expansion is seen as an opportunity, and the most efficient way to achieve that is through outsourcing. Alternatively, outsourcing also became a solution for corporations that were pushed to significantly […]
Philippine Government Seeks to Revise New Working Arrangements for BPO Industry
The Fiscal Incentives Review Board (FIRB) recently announced that BPO firms will now be required to have at least 10% of their workforce present in physical offices until March 2022. Companies who do not follow are said to be in danger of “suspension, withdrawal, or cancellation of tax incentives.” The Philippine Economic Zone Authority (PEZA) is […]
India’s Employment in Nine Sectors Including IT-BPO Reaches 30 Million During Q1 of FY21-22
The Quarterly Employment Survey (QES) for the April-June quarter of fiscal year 2021 to 2022 was released on September 27, 2021. It estimates that employment in nine non-farm sectors was over 30 million, a 29% increase from fiscal year 2013 to 2014. Among all of the sectors included in the census, the IT-BPO sector recorded the highest growth of 152 […]
Thailand Raises Public Debt Ceiling to 70% to Aid in Economic Recovery
Thailand’s public debt-to-GDP ratio is estimated to reach 58.9% by the end of September, just a little below the current maximum of 60%. With this, after a decade of reluctancy, the Ministry of Finance recently announced that the debt-to-GDP ratio of the country will be raised to 70% to give more leeway for the government […]
India’s Exports of Software Services at a 4% Growth in FY2021
BPO services played a significant role in the growth of India’s exports of software services during 2020 to 2021 which is estimated to have a valuation of 133.7 billion, a 4% increase from the previous year’s records. The report included data from 1,815 companies, most of which are large corporations, and resulted in a 65.3% and 34.7% division between computer services and IT enabled services.
Philippine GDP Still Expected to Grow at a Rate of 4.5% for 2021
The Asian Development Bank (ADB) remains firm on their forecast for the Philippine economy to grow at a rate of 4.5% for 2021 and 5.5% for 2022. This gives the Philippines the third highest growth rate in Southeast Asia next to Singapore and Malaysia measured at 6.5% and 4.7% respectively. Some factors that support ADB’s forecast are […]
