Phl IT-BPM industry rakes $38-B in 2024

The IT-BPM Association of the Philippines (IBPAP) treats the year 2024 for their industry as a milestone, reaping $38 billion in revenue, and providing 1.82 million jobs for the Filipino workforce.

In a statement on Thursday, Jack Madrid, president and CEO of IBPAP, said the numbers reaffirmed the industry’s position as a key driver of economic growth in the country.

“This year’s milestones underscore the incredible dedication and innovation within our industry. These achievements are a testament to our collective efforts. As we step into 2025, we are poised to seize new opportunities and drive the Philippines’ position as a global IT-BPM leader,” said Madrid.

Ending 2024, IBPAP reinforced its collaboration with partners from the government. 

In an industry meeting with the newly appointed DTI Secretary Cristina Roque, IBPAP discussed strategies to address key challenges and opportunities for the industry that will drive growth and innovation in the sector.

Madrid said the IBPAP launched initiatives with industry partners from the government to equip the future Digital Filipino Workforce with the skills they need tomorrow, with talent development remaining at the core.

Also, the IBPAP sealed a Memorandum of Agreement with the Department of Education, sustaining its goal of a brighter future for Filipino youth, bridging education and career opportunities in the digital economy.

“This collaboration aims to empower Filipino students with two transformative programs,” he said.

Other endeavors done by the IBPAP include the IT-BPM PC Donation Program, providing public schools with IT equipment to support digital learning; enhanced Senior High School Work Immersion, preparing SHS graduates for the workforce with extended immersion hours, essential skills training, and job-matching opportunities, and the donation of PCs with Concentrix and Quezon City LGU, empowering students with tools and resources for enhanced learning and future readiness.

Through these strong collaborations with stakeholders in the past year, IBPAP received back-to-back recognition from the Department of Information and Communications Technology and the DepEd for their staunch support of the government and its initiatives.

Looking to 2025, the IT-BPM sector aims to leverage emerging technologies such as Generative AI to boost efficiency and productivity, continue to expand its talent pool through upskilling and reskilling, and drive sustainable growth through innovation and collaboration with government and industry stakeholders.