February 5, 2017

"Businesses in the Philippines are getting increasingly worried about the economic isolationism of US President Donald Trump as the country’s main growth engines, business process outsourcing (BPO) and overseas remittances sent by Filipino expats – which together constitute around 11 per cent of the Filipino GDP – seem to be at stake.

The BPO sector, which has been exceptionally booming in recent years and in 2016 brought in revenues equivalent to 8% of GDP or more than $22 billion and employs 1.2 million people, is heavily dependent on servicing US companies which account for nearly 70 per cent of the industry. A number of BPO companies in the Philippines have now put expansion plans on hold, while some are reportedly already drawing up precautionary plans to relocate some operations back to the US."

Read more:

http://investvine.com/philippines-starts-worrying-trumps-protectionism/