The Information Technology and Business Process Association of the Philippines said Wednesday the industry’s export revenues are expected to rise 10 percent this year to $32.43 billion from $29.49 billion in 2021. Information Technology and Business Process Association of the Philippines
IBPAP president Jack Madrid said the projected growth for 2022 would partly fulfill the industry’s vision in the IT and Business Process Management Roadmap 2028 of generating 1.1 million new jobs in six years provided that enabling conditions were met and appropriate interventions carried out.
“In 2022, we started very strong, and I have no reason to believe that we will show a very healthy uptick in both headcount and revenue growing by as much as 8 percent in headcount, and with the potential of also increasing our revenue up to 10 percent,” he said in a pre-summit briefing Wednesday.
He said to hit the expansion target, the industry was looking forward to the enforcement of favorable government policies on incentives and remote work; stronger and more reliable infrastructure; accelerated upskilling and reskilling of the Filipino talent for digital services; enhanced value proposition to highlight country-level competitiveness; and improved ease of doing business to attract more global investors.
Madrid underscored the significance of flexible work to attain the goals of Roadmap 2028.
“Essential to deliver this sustained growth will be the adoption of new business models in particular location independent work from anywhere, hybrid work arrangements,” he said.
The group is set to launch the Philippine IT-BPM Industry Roadmap 2028 at the 14th International Innovation Summit on Sept. 27 and 28 via Airmeet and on Sept. 29, 2022 via Airmeet and at the Sofitel Philippine Plaza Manila.
Madrid said that in the next six years, the industry would be well-positioned to accomplish more in terms of jobs, investments and exports as envisioned in the roadmap.
Hitting another million jobs is one of the many significant milestones that the IT-BPM industry will reach by 2028, he said, adding that the sector would create more impact through countryside development, digitally-enabled services, dollar revenue, high-complexity work and indirect employment.
Madrid also cited the need to strengthen the collaboration with partners in the telecom industry to build infrastructure to support the IT-BPM industry outside Metro Manila.
He said while the industry was expecting employment to expand, skills upgrade would remain the industry’s biggest challenge.
IBPAP recognized that the existing workforce and new university graduates would require upskilling and rescaling of roles as management and operations become highly-digitalized.
“And lastly, we will need to rebrand the Philippines to retain its dominance and reputation as a provider of high value digital services,” Madrid said.