December 10, 2020

IT-BPM sector still to bring 130,000 jobs by 2022

Drake Editorial Team

As of 2010, the Philippines’ IT-BPM sector has already overtaken India’s standing in voice-based services, making the country the number one provider for such services in the global economy. This year (2020), industry has trimmed its growth numbers by $3 billion in revenue and 140,000 workers in employment, as it rethinks its programs and policies to recover from the setbacks caused by the COVID-19 pandemic.

 

According to Rey Untal, President and CEO of the IT and Business Process Association of the Philippines (IBPAP), the industry is seen to grow flat this year because of the challenges posed by the pandemic. He reasoned out that a flat performance should do in a year when most sectors are staring at a decline on all fronts, from sales, to profits, to labor force.

 

Untal said that the industry by 2022 is now projected to generate $29 billion instead of $32 billion, citing the Everest study.

It is also now expected to employ only 1.43 million workers, from the previous forecast of 1.57 million workers. In total, he concluded the industry should bring in $29 billion in revenue by 2022, as well as add 130,000 jobs between 2021 and 2022.

 

 

 

Policy reforms to take place, particularly on infrastructure, are needed for IT-BPM firms to achieve these goals, Untal said. The pandemic forced industry players to accelerate their pivot to digital, and this would be impossible to do if connectivity remains a problem, he added.

 

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