The Philippine information technology and business process management (ITBPM) industry is seen to finally meet its USD40 billion revenue target this year, a target that was initially set in 2024, as demand is expected to surpass supply.
IT and Business Process Association of the Philippines (IBPAP) president and chief executive officer Jack Madrid told reporters on the sidelines of its memorandum of understanding (MOU) signing with the Department of Trade and Industry (DTI) Monday that the group remains optimistic about the growth of the ITBPM sector despite uncertainties in the United States market.
“I see more demand…We are going to grow,” Madrid said. “We should cross USD40 billion by the end of the year.”
Madrid also projected that full-time employees (FTEs) in the local ITBPM industry will reach two million in the next 12 to 18 months.
Currently, the industry has 1.82 million FTEs.
The executive reiterated the need to “up-skill, re-skill, and cross-skill” local talents to support the industry targets.
“Most of our members invest in the up-skilling of the existing workforce. But in order for our industry to grow, we must make sure that the upcoming generation of jobseekers—these are the graduates every year—have relevant skills for the new work types of the future,” Madrid said.
Meanwhile, IBPAP is scheduled to review and recalibrate its 2028 Roadmap this year, coinciding with the recent tariff policy change in the United States. (PNA)
