Cebu’s IT-BPO industry contributes Php32.2b to local economy

The information technology – business process outsourcing (IT-BPO) industry in Cebu continues to be a major contributor to the local economy. According to a report published by the Cebu Educational Development of Information Technology Foundation (Cedfit), the sector has contributed about Php36.8bn to Cebu’s economy so far this year, in terms of wages. The sector currently employs 120,000 people, making it one of Cebu’s top growth drivers. The growth is expected to rise further as more IT-BPO companies are expanding their operations in Cebu. Cedfit executive director Jun Sa-a said Cebu’s IT-BPO industry is already matured at 14 years old, and driving impressive consumer spending in the province.