Hanumantha Karthik of Everest Group that conducted the study said the revenue of the sector is projected to reach $28 billion by 2020, $30 billion by 2021 and $32 billion by 2022. Under a “worst case scenario,” however, revenue is seen to grow by 3.5 percent annually to $27 billion in 2020, $28 billion in 2021, and $29 billion in 2022. For 2019 alone, the industry’s revenue is projected to grow by 5.2 percent to $26 billion. For a worst case scenario, it is projected to grow by 3.0 percent to 1.33 million in 2020, 1.37 million in 2021, and 1.42 million in 2022. He added there is a need to promote infrastructure development for the growth of the IT-BPM services both within and outside Metro Manila.

Source: Manila Times November 12, 2019 18:16 UTC