20 hours Ago By Katlene O. Cacho-Laurejas
AMID global challenges that could hinder business growth, the information technology-business process management (IT-BPM) sector — one of the country’s key economic pillars — is expected to remain a bright spot. “The future of the Philippine IT-BPM industry will not be dictated by external policies or global uncertainties. It is defined by the strength of our people, our adaptability and our unwavering commitment to delivering world-class services,” said Jack Madrid, president and chief executive officer of the IT & Business Process Association of the Philippines (Ibpap), in a statement.
“New foreign policies and global movements challenge us, but they also push us to elevate our capabilities,” Madrid added. The Ibpap official said that by consistently and urgently upskilling our workforce in emerging fields like artificial intelligence (AI), data analytics and cloud solutions, the Philippines could remain an indispensable partner in the global IT-BPM landscape. The IT-BPM industry in the Philippines generated $35.
5 billion in revenue in 2023, which was an 8.8 percent increase from 2022. This was the first time the industry became the country’s top dollar earner, surpassing overseas remittances.
The industry expects to end the year with $38 billion in revenues and a workforce count of 1.82 million. This outlook represents a seven percent growth rate of 2023.
Madrid said that the Philippine IT-BPM sector, recognized as one of the world’s most resilient outsourcing hubs, has consistently showcased its ability to navigate shifting geopolitical landscapes while retaining its status as a preferred global partner for enterprises. He said developing future-ready Filipino talent through upskilling, partnerships and training in high-demand fields like AI and data analytics are keys to make the country still the preferred choice of IT-BPM investments. “The Philippine IT-BPM industry is built on the foundation of Filipino resilience and excellence,” he said.
Madrid noted that the global demand for IT-BPM services is steadily increasing, with companies turning to outsourcing to enhance efficiency, scalability and innovation — needs that go beyond political boundaries. He emphasized that the Philippines is well-positioned to meet these demands, owing to its highly skilled, adaptable and culturally attuned workforce. To sustain the growth momentum, strategic partnerships among government, academe and industry leaders should continue to ensure that the country remains competitive in delivering high-value, technology-enabled solutions, Madrid said.
/ KOC.
