MANILA, Philippines — The Information Technology and Business Process Association of the Philippines (IBPAP) has slashed its revenue and headcount targets until 2022 amid challenges including regulatory changes, talent shortage, and digitalization and automation. In terms of headcount, he said employees in the IT-BPM sector could increase by three percent to seven percent to reach 1.42 million up to 1.57 million by 2022 from this year’s estimate of 1.288 million. As a result, he said the global IT-BPM industry has seen subdued growth in 2017 until 2018 and this trend is seen to continue until 2022. Sectors like healthcare, animation and game development, meanwhile, are expected to grow faster compared to the overall IT-BPM industry. He said it is also necessary to promote infrastructure development for the growth of IT-BPM services, both within and outside Metro Manila, in order to keep up with the industry’s demands.

Source: Philippine Star November 12, 2019 16:14 UTC