The Philippines’ information technology and business process management (IT-BPM) sector is poised to breach $40 billion in revenue by end-2025, up by 5.2 percent from last year’s $38 billion, according to the IT and Business Process Association of the Philippines (IBPAP).
“We should cross $40 billion by the end of the year. In 12 to 18 months, we’ll be in the $40 billion-plus range. That’s where we’re headed,” said IBPAP president Jack Madrid.
He said that in terms of employment, the industry now targets to hit the 2-million jobs mark within the next 12 to 18 months, a steady increase of 10 percent, banking on both the private sector and government to strengthen efforts in talent development.
A midterm review of IBPAP’s five-year roadmap is set for mid-2025 to adjust strategies and push for more aggressive targets.
Madrid said demand from multinational corporations, especially in healthcare and financial services, continues to drive growth, with the US remaining the largest market.
US-based clients account for over 10 percent of the country’s service exports, across sectors from contact centers to creative and healthcare services.
Madrid urged the industry to focus on workforce readiness, rather than worrying about global onshoring trends.
“We shouldn’t be scared about onshoring. We should be scared about not being skilled enough. That’s the only thing I’m concerned about,” he said.
“We produce 700,000 university graduates every year. We need them to be employable. We need to upskill, reskill, and cross-skill our talent,” he said.
He said sustaining growth hinges on preparing students and job seekers with relevant skills, as the nature of work continues to evolve, not only because of advances in AI, but also due to the broader shifts in global business.
