Northern Mindanao: A local tiger economy
With the current wave of BPO generated economic growth in the major cities of the Philippines, one might wonder if it is enough to sustain the momentum, not so, says Norio Usui, senior country economist of the ADB Philippine Office.
Though the services sector continues to support the Philippine economy, Usui said the sector is not as productive as the manufacturing and industry sector because BPO companies require all their workers to be at least college graduates. He said this leaves out a huge chunk of the population unqualified to work in these companies. That is why it is important for an economy to be balanced for it to be strong. The services sector must be balanced with the manufacturing and industry sectors.