Tholons and Global Services top emerging outsourcing destination for 2008, Cebu and its business leaders remain resilient against the challenges ahead in 2009, believing that this year could be one of the most fruitful not only for the business process outsourcing (BPO) and information technology sectors but also for the other industries in Cebu.

Cebu’s businesses and enterprises are banking on the island’s flourishing BPO and IT industries to be their lifebuoys in these uncertain economic times.

“…Despite the bleak economic forecast for the year, 2009 will mark Cebu’s “best year” in the Information and Communication Technology sector, which is expected to create a major turnaround for the province’s economy.

Now that the United States and other parts of the world are suffering from financial difficulties, the more that companies will consider outsourcing their services and Cebu is no-doubt the best choice in the Philippines.”

Joel Mari S. Yu, managing director, Cebu Investments and Promotions Center (CIPC).

With an aim to achieve revenue of USD 255 million by 2010, Cebu’s BPO and IT sectors offer opportunities to progress the business interest of other sectors. When the credit crunch has strangled a large number of construction projects worldwide, Cebu’s construction contractors are urged to look positive and move forward in 2009.

“We must always hope for a brighter year in 2009. All indications show that next year will not be an exciting year, to put it mildly. But, this should not be reason to sulk in the corner. All the more that we must be working together to lessen the negative impact that this financial crisis may bring to the industry in particular and the economy in general…”

Peter Paul Dy, President, Cebu Contractors Association (CCA)

Cebu Island Souvenirs founder and President Jay Aldeguer shares his view on how the island’s enterprises would fare:

“From the year 2005 and up, SMEs (Small and Medium Enterprises) were gaining momentum. If only the financial crisis did not happen, it could have been a great year. But SMEs are resilient and they will be hardly hit unlike bigger companies.”

Jay Aldeguer, award-winning Cebuano entrepreneur.

Despite being affected by the global recession, Cebu’s retail industry is depending on the increasing number of employment demand from the BPO/IT sector, as well as overseas remittance, for that much needed breathing space this year.

“Last year was the worst year for the retail industry in Cebu but hopefully, we will be able to ‘turn around the plate’ in 2009, as outlook for BPO sector is brighter, although tourism may take a slowdown.”

Melanie Ng, President, Philippine Retailers Association (PRA-Cebu)

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  1. Dagooc, Ehda and De Pablo, Rhia. “Through Stormy 2009: BPO, IT sectors will carry Cebu.” 2 January 2009. The Freeman. Accessed 2 January 2009. Link here
  2. Tan, Lynn. “Asia dominates global outsourcing list.” 7 October 2008. ZD Net Asia. Accessed 19 November 2008. Link here


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