IT-BPM revenue growth seen outpacing job creation
The Philippine IT-BPM industry expects revenue growth to outpace job creation through 2028. This shift is driven by AI adoption and a move towards higher-value services. The industry projects revenue to reach $42.3 billion this year, growing 5 percent, while employment climbs 2.6 percent to 1.94 million workers. By 2028, the sector targets $50.5 billion in annual revenue and 2.14 million employees, increasing revenue per worker to $23,600.
The Philippines' IT-BPM sector is recalibrating its growth metrics. Ibpap President Jack Madrid states the industry can no longer be measured primarily by job creation. Instead, competitiveness hinges on worker skills and complex task execution. This targets over 2 million AI-enabled Filipino digital workers by 2028.
This strategy positions the Philippines for higher-value services. Revenue per full-time employee is forecast to rise from $21,800 this year to $23,600 by 2028. The industry aims to become a regional base for companies serving Southeast Asia. This directly challenges other regional hubs like Malaysia and Vietnam for enterprise tech investment.
The test for this strategy is talent development. Ibpap works with schools and government to develop skills and implement a national AI strategy. The Philippines must deliver on its promise of AI-enabled talent to attract the target ASEAN enterprises. Failure to upskill workers quickly will limit the revenue per employee growth.
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