Philippine IT-BPM sector on track to exceed USD21bn revenues in 2015

The country’s information technology and business process management (IT-BPM) industry posted a massive growth in 2015 that is estimated to exceed the USD21bn revenue target for last year. According to Danilo Sebastian Reyes, the chairman of the IT and Business Process Association of the Philippines (IBPAP), the Philippine IT-BPM industry was on track to hit more than USD21bn in 2015 and is on track to also hit its targets for this year. Under the industry road map drafted by IBPAP and other key industry stakeholders, the country’s BPO sector is forecast to hit USD25bn this year and with employment reaching 1.3 million. Outsourcing and offshoring services continue to be seen as strong and significant driver of the local economy. For this year, at least 10 sites have been short-listed as alternative sites for outsourcing companies looking to further expand or setup operations in the country.