The information and business process management (IT-BPM) industry is seen to sustain an annual 10 percent revenue growth and 8 percent jobs improvement up to 2028, according to the Contact Center Association of the Philippines (CCAP).
CCAP Chairman Benedict Hernandez said in a statement that this growth target is aligned with the economic recovery goals set by the newly installed administration of President Ferdinand ‘Bong Bong’ Marcos Jr.
The IT-BPM industry started growing at 8-10 percent since 2019. CCAP said it counts on government support to help sustain the targets. For its part, the IT-BPM industry commits to being a partner for high value job creation and national economic recovery.
In a forum hosted by the government economic cluster following the President’s first State of the Nation Address on July 25, the Department of Labor and Employment (DOLE) identified the IT-BPM industry as among the growth industries that are set to become key employment generators in the next six years.
CCAP is confident that with the right support, it attain the top end of its growth target range. “There is a surge in global market demand, driving double digit growth prospects for Philippine IT-BPM. If we collectively support the industry to capitalize on this global demand, it can mean up to an additional 1.1 million more high value, high paying jobs for Filipinos over the next six years. This is clearly an exciting time for the industry,” said Hernandez.
Based on data from global research firm Everest Group, the local IT-BPM industry’s headcount grew in 2021 by up to 10 percent or over 120,000 jobs year-on-year—its strongest since 2016. The momentum is expected to be sustained in 2022. In 2020, the industry still grew by up to 5 percent despite the onset of the ongoing global Covid-19 pandemic.
According to industry insiders, that growth translates to a $29.5 billion revenue in 2021 from $26.7 billion in 2020 and $26.3 billion in 2019. The industry’s annual revenue has been continuously growing strongly—from just $8.9 billion in 2010.
“The contact center sector has demonstrated tremendous agility and resiliency to effectively deliver world class customer experience management services to global and domestic clients throughout the pandemic,” said Hernandez.
“CCAP and its members continue to work to maintain the Philippines’ status as the best provider of customer experience management services through the country’s growing stable of world-class and up-skilled talent,” he added.
The organization of locally operating contact center firms is reiterating its commitment to continue working with the national government to attain economic goals especially in this period of recovery after the inevitable impact of the pandemic. It aims to attract more investments going to the country through the sector and the industry and consequently create more high-value jobs to empower more Filipinos nationwide.
But Hernandez said the achievement of the target also hinge on continued government support.
CCAP has recommended sustained improvements in the ease of doing business and long-term program to allow the industry to be more globally competitive. This includes clear policy on flexible work arrangements, strengthening of PEZA as true “one-stop-shop” for administration, compliance, and reporting matters with respect to PEZA’s registered business entities.
The group is also asking the education sector to continue producing STEM (Science, Technology, Engineering, and Mathematics) graduates who are digital-ready and appropriately skilled to join the growing IT-BPM industry; the telecommunications, real estate and other partner industries to continue improving infrastructures for communications, connectivity, transportation, workplaces of the future that support industry’s growth in NCR and multiple provincial locations.
For its part, CCAP pledges to continue addressing untapped service opportunities, getting into new client markets, and building more infrastructure targeting fast-growing tech companies more aggressively.