IT-BPM sector dipped to $26.2bn last year
The Philippine Information Technology and Business Process Management (IT-BPM) industry reported a $26.2 billion revenue last year, a small dip compared to 2019’s $26.3 billion revenue. Employment figures remained at 1.3 million.
According to IT and Business Process Association of the Philippines (IBPAP) Board Member Celeste Ilagan, the flat growth is caused by the global recession due to the COVID-19 pandemic. Ilagan noted that the recorded flat growth “is actually an achievement in itself.”
While the first two months of last year’s hard lockdowns were a “struggle,” Ilagan said that the industry’s productivity has reached 95 per cent by the end of 2020. She stated that while the IT-BPM sector is fortunate to have been included among essential industries, companies “needed to pivot a very different work model which we have not done significantly before.”
