The IT and Business Process Association of the Philippines (IBPAP) reported that the country’s IT and Business Process Management (IT-BPM) sector posted employment and revenue growth last year despite the adverse impact of the COVID-19 pandemic.
According to the organization, the sector’s full-time employees (FTEs) country increased by 23,000 in 2020, raising the industry’s total industry headcount to 1.32 million. IBPAP also noted that the industry registered a 1.8% growth compared to 2019.
“When IBPAP commissioned the recalibration study in July 2020, we already knew that the far-reaching effects of the health crisis did not spare the IT-BPM sector. The fact that it reached this level of growth by year-end is proof of the industry’s resilience and fundamental role in the Philippine economy,” said IBPAP president and CEO Rey Untal.