IT-BPM industry still bullish on growth

THE PHILIPPINE information technology and business process management (IT-BPM) industry is still bullish on growth, as it expects to generate $42 billion in export revenues and increase headcount to 1.97 million in 2026, an industry group said.

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The Philippines is also aiming to become the next hub for global capability centers (GCC), as it has seen an uptick in interest from multinational companies, the group added.

IT & Business Process Outsourcing Association of the Philippines (IBPAP) President and Chief Executive Officer Jonathan R. Madrid said the industry has so far created 450,000 new jobs and $10.5 billion in revenue since the creation of the industry roadmap in 2022.

"Now, for 2025, that includes 80,000 new jobs and $2 billion in incremental revenue. That is a growth of 4% and 5.3%, respectively," he said at the International IT-BPM Summit on Tuesday.

"By 2026, we project to reach $42 billion in revenue and close to a total of two million jobs for Filipinos."

The expected jobs and revenues for 2026 are aligned with the baseline projections indicated in the IT-BPM Roadmap 2028.

Mr. Madrid said the industry's growth will still be driven by core segments — banking, financial services, and healthcare.

While the Philippines remains strong in contact centers, he noted faster growth coming from GCCs. "(There's) a slightly higher growth rate from GCCs.

Coming from a lower base, you tend to see more growth from that sector," he said.

GCCs are offshore units established by multinational corporations to provide specialized services such as finance, IT and customer support to their global operations.

Mr. Madrid said he sees increased interest in setting up GCCs in the Philippines from prospective clients in the US, Australia and Europe.