IT-BPM sector expects $60B in revenues by 2028

The information technology and business process management (IT-BPM) sector is targeting to generate about $60 billion in revenues by the end of the six-year term of the Marcos administration.

Interviewed on PTV’s public briefing on Wednesday, IT and Business Process Association of the Philippines (IBPAP) chief of Policy and Regulatory Affairs Celeste Ilagan said the sector is projected to produce 1.1 million new jobs and “nearly double its annual revenues by 2028.”

As of 2022, Ilagan said the industry generated 1.44 million full-time employees (FTEs).

“Ibig sabihin even nagkaroon ang pandemya ay lumaki ang aming industriya at nakapag-create ng mas maraming trabaho,” she said.

(This means that even if there is a pandemic, our industry grew and created more jobs.)

The IBPAP official added that the IT-BPM sector also recorded revenues of about $30 billion to-date.

For the next six year, Ilagan said the sector is expected to generate $60 billion and grow the number of FTEs by 8.5% annually.

As to the growth rate of revenues, she said the sector is projecting an annual growth rate of over 10% yearly.

Ilagan said the IT-BPM sector wants to be allowed to continue hybrid work arrangements.

“This has been addressed by the government,” she said. —LBG, GMA Integrated News