Business
BPO Sector Led Office Space Demand in 2020
Business Process Outsourcing (BPO) led the most demand in office spaces in 2020 despite the pandemic, according to Lobien Realty Group.
Due to the exit of POGOs in the country that are mostly operated by Chinese nationals, the BPO industry has overtaken the Philippine Offshore Gaming Operators (POGOs), who led the office demand in 2019 with 36% in the market share.
Last year, POGOs market share dropped to 16%, while BPO had 41% of the market share.
With the exit of POGOs, there will be an expected high vacancy rate in the country.
Office rates are also expected to decline because of the lesser demand. (ASC)
