Roadmap 2028 to include new interventions, says IBPAP
The industry Roadmap 2028 will include new policy interventions and strategies to respond to new business models adopted during and post-COVID-19 pandemic, said the IT and Business Process Association of the Philippines (IBPAP).
In a recent podcast interview, IBPAP President and CEO Rey Untal said that they are already mulling over Roadmap 2028 as the Roadmap 2022 will be ending next year.
According to the agency’s data, the IT and BPO industries generated a total of $26.7 billion in revenues in 2020, only 1.4% higher compared to 2019.
An additional 23,000 full-time employees were also hired last year, only 1.8% higher than 2019, bringing the total industry employment to 1.32 million.
Untal noted that they “are looking at a longer term cure, so that we can have a policy that is truly reflective of the needs. And we have evolved significantly from what used to be the model that was accepted.”
Based on the current roadmap, IBPAP aims to garner a 9.2% compounded annual growth rate (CAGR) or $38.9 billion in revenue in 2022 compared to 2016’s $22.9 billion.
The agency is also expecting to generate 1.8 million full-time employees in the industry by next year.
