MANILA, Philippines – The Philippines eyes to capture more of the global information technology-business process management (IT-BPM) industry by 2016, according to a new industry roadmap.
The road map does not change the industry's 2016 targets of $25 billion revenues and 1.3 million direct jobs, but calls for a higher share in the global market.
The road map was presented to the Board of Investments (BOI) by the Information Technology and Business Process Association of the Philippines (IBPAP).
"We now only need to grow an average of 17% a year to hit our $25 billion by 2016," IBPAP senior executive director Gillian Joyce Virata said. In 2012, IT-BPM generated $13.2 billion in revenues and 800,000 direct jobs.
Virata noted that if the industry hits its 2016 revenue target, the Philippines' share in the global IT-BPM will grow to 13% from 10.4% in 2012.
For voice alone, she said the country's share is expected to increase to 41% from 38%.
The road map already assumes that the industry will be able to manage costs with a strong peso by spreading to the "next wave" cities and employing other strategies.
Key strategies include building the IT-BPM brand through marketing programs and attracting and training a talent base of 1.1 million in a period of 5 years.
The IT-BPM market is also projected to employ 3.2 million Filipinos indirectly, which when added to the 1.3 million direct jobs and $25 billion earnings, will account for 8% of the country's gross domestic product.
IT-BPM has been one of the major drivers of the services sector. – Rappler.com