CEBU, PHILIPPINES – The Contact Center Association of the Philippines (CCAP) forecasts ongoing robust growth for Cebu’s information technology and business process management (IT-BPM) sector.
According to the CCAP, which represents 154 member firms in the Philippine IT-BPM industry, this industry has long been a key economic driver for the province.
Industry leaders express optimism
Industry leaders believe Cebu, the primary BPO hub outside Metro Manila, will continue to expand, leading to job creation.
Haidee Enriquez, a CCAP board director and CEO of Microsourcing, a BPO provider, highlighted the region’s potential.
“There’s so much growth to be had in Cebu,” she stated in an interview before the Contact Islands 2024 conference, set to take place from July 24–26.
Enriquez believed Cebu will continue to attract BPO investments, despite already being a mature hub. She expects these investments to focus on expanding existing outsourcing companies.
Enriquez also emphasized that maintaining business readiness, infrastructure, and talent production is crucial for sustaining growth in the IT-BPM sector.
She further points to the sustained hiring needs of outsourcing companies as a clear sign of positive industry prospects. The key challenge, she noted, is how quickly Cebu can continue to grow this sector.
Economic impact and future projections
Enriquez also underscored the significant economic contributions of the IT-BPM industry to Cebu. She described the sector as a “potent economic driver,” with a substantial multiplier effect on various sectors, even those not directly involved in IT-BPM.
According to Jack Madrid, president of the IT and Business Process Association of the Philippines (IBPAP), the industry is expected to reach $40 billion in revenue this year and employ 1.84 million people by year-end.
Last year, the sector contributed $35.5 billion to the economy and created 130,000 new jobs.
The contact center and IT-BPM sector account for about 83% of the entire IT-BPM industry revenue annually. By 2028, based on the IT Industry Roadmap, the sector is projected to generate $49 billion of the targeted $59 billion IT industry revenue and employ about 2.5 million full-time employees.
