WELLNESS IN BUSINESS: BSP expects strong inflows from BPO, tourism. The sustained growth in the BPO and tourism sectors will support the Philippines’ balance of payments position, which indicates a country’s transactions with the rest of the world. The BOP position includes exports, imports, foreign direct and portfolio investments, and remittances, among others. BPO and tourism receipts are recorded under services, placed under the BOP’s current accounts. The central bank expects a BOP surplus of $3 billion this year. This will help the country boost its gross international reserves to as much as $88 billion in 2014. | Business, News, The Philippine Star | philstar.com

 "“For the BPOs, we’re expecting a 15- percent growth (in export revenues) for 2013 and also a 15-percent growth for 2014,” Rosabel Guerrero, director at the Bangko Sentral ng Pilipinas’ Departmanet of Economic Statistics, said in a briefing. Guerrero noted that the growth rate will be from an $11.6-billion revenue figure recorded in 2012 by the BPO industry. Zeno Abenoja, director for BSP’s Department of Economic Research, noted that the sustained growth of the industry will be on the back of government’s continued support for the industry and sustained demand for firms abroad. “The projections were done in consultations with the industry... The projections took into account continued strong government support to the industry in terms of favorable tax treatment for capital equipment, and tax incentives (among others),” Abenoja said." CLICK LINK TO READ FULL ARTICLE BSP expects strong inflows from BPO, tourism | Business, News, The Philippine Star | philstar.com:

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