THE IT & Business Process Association of the Philippines (Ibpap) has lowered its revenue and job projections under the Philippines’ information technology-business process management (IT-BPM) Industry Roadmap 2028.
“A lot of conditions have changed since we started the road map in 2022,” Ibpap President and CEO Jack Madrid said at a media briefing in Taguig on Tuesday.
Ibpap is the enabling organization for the country’s IT-BPM industry, with over 400 members and partnerships across sectors.
The association’s 2022 road map had forecast $59 billion in revenue and 2.5 million full-time employees (FTEs) by 2028.
It now projects a lesser revenue of $43.3 billion to $50.5 billion and 1.85 million to 2.14 million jobs to FTEs.
“This outlook is ambitious, but achievable. Success will depend on how quickly we invest in talent, embrace artificial intelligence (AI) responsibly and deepen collaboration between industry, government and academe,” Madrid said.
He attributed the lowered projections to shifts in technology, buyer behavior and global competition, as countries adapt to new technology and businesses take longer to make decisions.
Despite the adjustments, Madrid remains confident. “We’re halfway through 2026. I think we’re going to grow to 1.96 million for jobs and will hit $42.3 billion [in revenue]. We meet investors regularly, even the existing players. The organizations already here are still expanding,” he said.
For Global Capability Centers, Ibpap said health care, banking and financial services, and emerging markets are expected to drive industry expansion through 2028.
Rising demand for AI-enabled and specialized services is also pushing the country toward higher-value work in analytics, engineering, finance, health care information management and digital services, reinforcing its position as a destination for complex, knowledge-intensive work.
“Growth of this scale requires an ecosystem that enables innovation, investment and talent development. We will continue working closely with government, academe and industry partners to create an environment where businesses can invest with confidence and Filipino talent can thrive in the global digital economy,” said Ibpap Chief Operating Officer Celeste Ilagan.
For 2027, Ibpap forecasts $45.3 billion in revenue and 1.99 million jobs, in light of the road map’s baseline of $44.8 billion to $53.3 billion in revenue and 2.0 million to 2.3 million FTEs.
