The IT and Business Process Association of the Philippines (IBPAP) said 54 percent of the 1.1 million direct jobs target in the next six years will be in the countryside.
With an estimated growth rate of 8.5 percent, IBPAP said the Philippine IT-BPM industry is expected to create up to 1.1 million direct jobs in the next six years.
Of the 1.1 million direct jobs target, IBPAP said 54 percent will be in the countryside, which the organization said will bring the sector’s total headcount to 2.5 million by 2028.
Highlighting the industry’s “multiplier effect,” IBPAP also projects generating up to 3 million indirect jobs for allied sectors such as retail, hospitality, infrastructure, transportation, and real estate.
In a news statement issued on Wednesday, IBPAP said the IT and Business Process Management (IT-BPM) also has the potential to nearly double in size as its annual revenue is likely to reach $59 billion in 2028, reflecting a compound annual growth rate (CAGR) of 10.4 percent.
However, IBPAP President and CEO Jack Madrid underscored the importance of “collective” effort to realize Roadmap 2028’s vision.
“The growth of the industry is a goal that we must all work toward as a collective, even as external and internal factors shape the opportunity landscape,” said Madrid.
“These include the global economy, overall demand for IT-BPM services, the adoption of hybrid work models, infrastructure development, supply of skilled talent, and favorable government policies,” the IBPAP chief added.
IBPAP bared high-level recommendations for its strategic priorities and “acceleration levers.”
Among the recommendations are policy and regular support, where it said, “the government needs to enable an enhanced business-friendly environment through unambiguous and relevant policies, which are in line with global and local market macrotrends.”
IBPAP noted that this recommendation will help ensure the easier adoption of hybrid workplace models, uniformity in workplace incentives and strengthen the Philippines’s cost competitiveness and overall ease of doing business.
Another recommendation, the flagship organization of IT-BPM said, is talent development, This facet aims to ensure the sustainable supply of skilled talent “by revising existing curriculum and introducing new and future-relevant educational courses including early-stage interventions like internships and work immersions.”
Moreover, IBPAP is hoping for infrastructure development, noting that the continued development and strengthening of infrastructure remain crucial to supporting IT-BPM operations in Metro Manila and other provinces.
As for marketing and brand positioning, IBPAP said in order to woo more investors, “A country rebrand will help reimagine the Philippines as a provider of high-value experience services.”
Under this recommendation, the organization said this will strengthen market awareness and sustain stakeholder engagement internationally as well as domestically.
“The Philippine IT-BPM sector is at the cusp of a new and exciting era, and the future that awaits us is the brightest that it has ever been. By 2028, the industry may be able to contribute up to 8.5 percent to the country’s gross domestic product [GDP],” Madrid stressed.
He added, “This is a significant feat that will need everyone’s support as we take this big leap forward, propelling this powerhouse sector and cementing the Philippines as the top investment destination for IT-BPM services.”