From Where We Sit
Why set up shared services in the Philippines?
A report by the Philippine Statistics Authority in early 2022 states that the country’s GDP posted a growth of 7.7 percent in the last quarter of 2021, resulting in 5.6 percent full-year growth in 2021. The same trend for growth is being forecasted by the Asian Development Bank, saying that the Philippine economy will grow to 6 percent in 2022. As we are near the tail end of the pandemic, it is important to refocus the business as it manages the long-term effect of such occurrence. The best, and probably the perfect, time to move on to shared service operations in the Philippines given these advantages is now.