14% revenue growth forecast for IT-BPM this year

The IT-Business Process Association of the Philippines (IBPAP) is confident that the country’s IT-BPM sector will easily generate and additional USD3bn in revenue this year. The 2016 target of USD25bn is a 14% increase from last year and, according to the IT & Business Process Association Philippines (IBPAP) president Jomari Mercado, the industry has been meeting that growth target to date. The extra USD3bn revenue this year will put the industry on track to hit the USD25bn revenue goal in 2016. For last year, revenue of the IT-BPM sector likely hit USD22bn, Mercado said. The official 2015 growth performance is yet to be announced. The USD22bn revenue in 2015 would mean that the sector is on target to equal OFW remittance level by 2017. Last year, OFW remittance hit USD25.8bn.