Cebu’s IT-BPM sector eyes sustained growth
CEBU, PHILIPPINES — Cebu’s information technology and business process management (IT-BPM) sector is set for continued growth.
Despite being considered a “mature” hub, Cebu continues to attract investments, particularly in the expansion of existing outsourcing companies.
“People are still coming to Cebu,” said Haidee Enriquez, a CCAP board director, in a recent interview. Enriquez emphasized that Cebu’s business readiness, solid infrastructure, and talent pool are crucial for sustaining growth in the IT-BPM sector.
Job creation and economic impact
According to the Contact Center Association of the Philippines (CCAP), the IT-BPM sector is a significant contributor to Cebu’s economy, creating numerous job opportunities.
Enriquez, who is also the CEO of offshoring firm MicroSourcing, highlighted outsourcing companies’ sustained hiring requirements as a clear indication of positive industry prospects.
She noted, “There’s so much growth to be had (in Cebu),” underscoring the sector’s potential for further expansion.
Cebu hosts Contact Islands 2024
Cebu is currently hosting the Contact Islands 2024 conference, one of the largest events for the IT-BPM sector, from July 24-26.
This conference will gather over 600 executives from local and international BPO firms, government agencies, and other stakeholders.
The event aims to address challenges such as cybersecurity, infrastructure development, and the integration of artificial intelligence (AI) in the industry.
CCAP Chairman Mitch Locsin noted that this year’s conference is particularly timely due to emerging challenges and opportunities. He emphasized the importance of the Philippines as a primary provider of excellent contact center and outsourced business processes globally.
“We have already weathered numerous storms, but we have to continuously and relentlessly face many more inevitable and unexpected challenges,” Locsin added
Sustaining growth amid global challenges
The IT-BPM sector is on track to achieve the Philippine IT-BPM Roadmap 2028 objectives, aiming for $59 billion in annual revenue by 2028.
Despite competition from other countries, the Philippines maintains key advantages such as a cultural affinity with its Western clients — particularly the United States —, strong communication skills, and a favorable demographic profile. According to global research company Everest Group, the sector posted $29.5 billion in revenue in 2023 and employed 1.51 million full-time employees, highlighting its critical role in the economy.
As Cebu continues to solidify its position as a major IT-BPM hub, the sector’s sustained growth is poised to drive further economic development. The ongoing investments, talent pool, and infrastructure readiness make Cebu an attractive destination for IT-BPM companies, ensuring its role as a potent economic driver in the Philippines.
Read more here.
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