The Philippines' information technology and business management (IT-BPM) sector posted 19% growth and generated more than 137,000 jobs in 2012 according to Information Technology and Business Process Association of the Philippines (IBPAP) president and CEO Jomari Mercado.
The IBPAP exec added that the sector is on track to hitting the US$25 billion revenue and 1.3 million employment targets by 2016.
The country's IT and business process management industry provided jobs for 776,794 Filipinos by the end of last year; that was a 21% growth in employment from 2011.
Export revenues, on the other hand, hit around US$13.2 billion in 2012. This 19% growth is seen as an indication that the country remains within the level of growth to reach the 2016 revenue target.
"To reach our 2016 targets, we reiterate that it is imperative that we sustain and strengthen the work we are doing with government," Mercado said during the Cebu ICT and BPO Conference. "We have received impressive support from President Aquino and his teams in the executive branch and we were able to pass key legislation needed by the industry."
IBPAP also reported that healthcare information management saw an 80% increase in employment and a 66% increase in revenues. The game development sub sector, on the other hand, posted US$50 million revenues in 2012 and added 1,000 more developers.
The contact center subsector saw a 19% increase in employment (81,000 jobs) and an 18% increase in revenues (US$8.7 billion). For the software development subsector, 2012 was also a good year: 17% revenue growth (US$1.16 billion) and 14% employment growth (57,078 jobs.)
The corporate services subsector - which includes back-office services and knowledge process outsourcing - earned US$2.5 billion and provided 154,380 job opportunities. Both revenues and jobs increased by 20% in 2012.