IT-BPM Industry Set To Exceed 2024 Job Creation And Revenue Targets, Expanding PH Middle Class

The Information Technology and Business Process Management (IT-BPM) industry is on track to exceed its job creation and revenue targets for 2024, contributing significantly to the expansion of the Philippine middle class, according to the IT and Business Process Association of the Philippines (IBPAP).

IBPAP continues to explore opportunities in its primary market, North America, while tapping into other regions with rising demand for Philippine-based back-office services. I Photo: Avida Land

Jack Madrid, President and CEO of IBPAP, highlighted that the industry is a crucial pillar of the Philippine economy, with over a million families relying on it for their livelihood.

IBPAP continues to explore opportunities in its primary market, North America, while tapping into other regions with rising demand for Philippine-based back-office services, including Asia-Pacific, Australia, and the United Kingdom.

“The IT-BPM sector was once dominated by just two countries—India and the Philippines. However, we are now seeing new competitors emerging, such as Poland, Egypt, South Africa, and Vietnam. Each country has its own unique value proposition. While we remain one of the global leaders, maintaining our position requires constant improvement in our skills and services,” Madrid emphasized.

Celeste Ilagan, Chief Operating Officer of IBPAP, added that the industry group will be joining investment missions led by the Department of Trade and Industry (DTI) in Japan and Europe to attract more global shared services companies to establish back-office support operations in the Philippines.

Additionally, IBPAP's Executive Director for Talent Development, Frankie Antolin, noted the increasing demand for workers in IT-BPM subsectors such as animation and game development, healthcare, accounting, and other financial services.

Antolin also mentioned that IBPAP is working closely with the Department of Education (DepEd) to finalize a partnership aimed at helping senior high school students become employable in IT-BPM companies upon graduation from Grade 12.

“We’ve been in discussions with DepEd about enhancing the senior high school work immersion program. We are in the final stages of the Memorandum of Agreement (MOA) with DepEd. Our goal is to make senior high school graduates more employable by giving them more time in actual work environments, providing workplace exposure, and possibly transferring some of the training that new hires typically receive,” Antolin added.