IT-BPM industry targets USD39bn revenue by 2022

The Philippine Information Technology and Business Process Management (IT-BPM) industry remains upbeat and aspires to generate up to USD39bn in revenue and 1.8 million new jobs by 2022. The target is in line with the 2022 industry Roadmap launched on 27 October. The previous six-year plan – Roadmap 2016 – failed to achieve the goal of 1.3 million jobs and USD25bn in revenue. According to Lito Tayag, trustee and vice chairman of the IT & Business Process Association of the Philippines (IBPAP), only 1.15 million new jobs and USD22bn in revenue were generated. For the next six years, 73% of the projected 1.8 million new jobs are mid- to high-value positions, with more than 500,000 jobs to be generated outside of Metro Manila.