Navigating the Future: Revising Expectations in the IT and Business Process Industry
In a world that’s constantly evolving, staying grounded in reality is crucial. The IT and Business Process Association of the Philippines (IBPAP) recently took a hard look at its roadmap, recalibrating its revenue and employment projections for 2028.
A Shift in Projections
IBPAP President and CEO, Jack Madrid, shared some sobering news. The organization is now aiming for revenues of $50.5 billion by 2028—a reduction from the earlier projection of $59 billion made in 2022. Madrid emphasized that this reassessment stems from a need for honesty about current industry realities. “We need to review where we are and be honest about what we can achieve realistically,” he stated during a briefing in Taguig City. It’s a reminder that sometimes, we must take a step back to move forward.
In 2025, the industry reported revenues of $40 billion. Looking ahead, the employment outlook reflects this cautious approach as well. By 2028, IBPAP predicts a workforce of 2.14 million employees under the best-case scenario, or 1.85 million at a lower estimate—both figures are less than the 2.5 million projected in 2022.
Emphasizing Quality Over Quantity
For years, success in this industry hinged on how many jobs could be created. But Madrid highlights a vital shift: “The next chapter will increasingly be defined by the value every Digital Filipino Worker (DFW) creates. That is the shift from capacity to capability.” This evolution signifies a deeper understanding of what it means to succeed—focusing on talents and contributions rather than just numbers.
Madrid remains optimistic, asserting that this outlook, although ambitious, is achievable. However, he stressed that success will largely hinge on how swiftly the industry invests in talent and responsibly embraces AI technology.
Building Partnerships for Progress
Collaboration is key. Madrid pointed out that the future success of the industry will depend on strong partnerships among businesses, government entities, and educational institutions. “This is the kind of evolution we want to see—higher revenue per employee,” he remarked, noting that global capability centers (GCCs) play a significant role in this growth. In fact, the country is home to around 200 GCCs, adding about 10 new centers each year. For instance, JPMorgan Chase has become a significant employer, now providing jobs for approximately 21,000 individuals.
Challenges Ahead
Still, the road is not without its hurdles. The IBPAP lays out a downside scenario influenced by policy-related issues and local talent availability, predicting revenues of $43.3 billion if these challenges persist. Risks involve the rise of artificial intelligence, changing buyer behaviors, and heightened global competition, all of which are forcing businesses to reconsider their decision-making processes.
Celeste Ilagan, the IBPAP Chief Operating Officer, highlighted ongoing concerns regarding the ease of doing business in the Philippines. “We continue to push for improvements,” she explained, responding to inquiries about inconsistent local processes despite operating within the same country. She also mentioned the growing concern of insider cybercrime, where a few employees have engaged in fraudulent activities—threatening the country’s reputation and client relationships.
In facing these challenges, efforts are being directed toward engaging with law enforcement agencies to combat crime and protect the industry’s integrity.
Conclusion: A Hopeful Path Forward
As the IT and business process sector navigates this transitional phase, the insights from IBPAP underscore the delicate balance between ambition and realism. While the numbers may look different than anticipated, the focus on creating value and fostering partnerships offers a hopeful path forward. It’s a call to action for every stakeholder in the industry to come together, invest in talent, and embrace change—including the transformative power of technology. Together, they can shape a brighter future for the Digital Filipino Worker and the country as a whole.
