IT-BPM sector targets $59-billion revenue, 2.5M workforce in 2028

The country’s information technology and business process management (IT-BPM) industry targets to hit a revenue of USD59 billion and a total of 2.5 million full-time employees (FTEs) in the next six years, according to Jack Madrid, Information Technology and Business Process Association of the Philippines (IBPAP) president and chief executive officer, on Wednesday.

In a press briefing, Madrid said the industry envisions the Philippines to become the world’s leading experience hub for digitally-enabled and customer-centric services while driving inclusive and sustainable growth across the country.

He said IBPAP targets 54 percent of its growth will be driven by activities in the countryside.

To support the growth target of the industry, Madrid said upskilling the local talents will be one of the priorities of the IT-BPM sector.

In the next six years, IBPAP aims to expand high-skill category jobs, with a 13 percent increase in revenue per FTE by 2028.

“Since we launched the previous roadmap in 2016, we have already seen significant and widespread achievements of the industry to our economy… In the next six years, what it aims, along with our industry players, is for our sector to create (an) even more meaningful impact as we envision our country to be the world’s number one experience hub for customer-centric and digitally enabled services while driving sustainable economic and social growth,” Madrid said.

He said the IT-BPM industry is one of the “very few industries” that the country can claim to be a world leader.

For the industry to be on track with its targets, the IBPAP chief said the government should ensure ease of doing business as there are many IT-BPM investors eyeing to put up and expand their operations across the country.

The country should also ensure that there is a sustainable supply of skilled talent by revisiting the existing curriculum, introducing new and future-relevant courses, strengthening training programs, and proactively positioning IT-BPM as a preferred career option.

The development of infrastructures, such as real estate and telecommunications for the IT-BPM services and rebranding the Philippines as a provider of high-value “experience” services, will also support the 2028 roadmap of the industry. (PNA)

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