MANILA, Philippines — The country’s information technology-business process management (IT-BPM) industry remains upbeat despite the possible impact of external policies and global economic uncertainties due to the reelection of US president Donald Trump.
In a statement yesterday, the IT and Business Process Association of the Philippines (IBPAP) said the country has established itself as one of the most resilient outsourcing destinations, with the country’s IT-BPM sector able to adapt to changing geopolitical landscapes, while maintaining its position as a preferred partner for global enterprises.
IBPAP attributes this to the focus on talent development to meet rapidly changing requirements, through upskilling, partnerships and training in high-demand fields like artificial intelligence and data analytics.
“The Philippine IT-BPM industry is built on the foundation of Filipino resilience and excellence,” IBPAP president and CEO Jack Madrid said.
While new foreign policies and global movements pose challenges to the sector, he said this has also pushed the industry to continue to level up its capabilities.
“By consistently and urgently upskilling our workforce in emerging fields like artificial intelligence, data analytics and cloud solutions, we ensure that the Philippines remains an indispensable partner in the global IT-BPM landscape,” Madrid said.
In a report from think tank GlobalSource Partners, country analysts Diwa Guinigundo and Wilhelmina Mañalac said Trump’s protectionist policies of ensuring the availability of jobs for Americans could negatively impact the Philippines’ business process outsourcing (BPO) industry, especially since it has been reported that 70 percent of its earnings come from the US.
The authors said the BPO industry has proven to be one of the Philippine economy’s fastest-growing sectors by providing jobs and bringing in foreign exchange earnings for the economy.
“Thus, executing these policies may have a stifling effect on the growth of the BPO industry,” Guinigundo and Mañalac said.
To ensure the country remains competitive in delivering high-value and technology-enabled solutions, the IBPAP said it is actively working with the government, academe and industry leaders to future-proof its workforce.
“The future of the Philippine IT-BPM industry will not be dictated by external policies or global uncertainties. It is defined by the strength of our people, our adaptability and our unwavering commitment to delivering world-class services,” Madrid said.
Earlier, he said the IBPAP expects to end the year with $38 billion worth of revenues and 1.82 million employees.
Last year, the IBPAP generated $35.5 billion in revenue and employed 1.7 million.