PH IT-BPO sector to increase 8% to $28.8b in 2021
The 2021 export revenue of the Information Technology-Business Process Outsourcing (IT-BPO) industry in the Philippines is expected to increase by eight per cent to $28.8 billion as global demand for outsourcing services continues.
According to the IT and Business Process Association of the Philippines (IBPAP), employment in the sector is also projected to increase by eight per cent to 1.43 million by year-end.
During a pre-event briefing for the 2021 International Innovation Summit, IBPAP chairman Benedict Hernandez said that they are “cautiously optimistic” for high single-digit growth in the industry this year. Hernandez added that they are expecting to generate 130,000 more jobs this year compared to only 20,000 last year.
IBPAP stated that the industry continues to be mindful of the need to adapt to future trends — including digitalization, upskilling, and the development of the right policy framework to support the sector.
Hernandez emphasized that the IT-BPO sector would continue to lead the economic recovery of the Philippines post-pandemic.
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