The Philippine retail sector is poised to grow and account for a fifth of the country’s total economic output in 10 years as the business process outsourcing (BPO) industry continues to expand and consumption spending rises.
Philippine Retailers Association chairman emeritus Samie Lim told reporters the retail sector has the potential to grow its contribution to the country’s gross domestic product (GDP) to 20 percent in 10 years from last year’s 13 percent.