IT-BPM cuts revenue growth forecast by $7 billion

in World News

THE information-technology and business- process management (IT-BPM) industry has reduced its growth forecast by nearly $7 billion in revenue and roughly 230,000 workers in employment on uncertainties brought about by domestic and international policies.

The IT and Business Process Association of the Philippines (Ibpap) on Tuesday said it lowered its growth projections for the IT-BPM industry. The industry decided to reduce its revenue and employment numbers for 2022 by double digits on changes in tax policy on the domestic level and escalation of trade conflict on the global scale.

The industry is now just expected to generate revenue of $32 billion by 2022, nearly 18 percent lower from the original projection of $38.9 billion under the IT-BPM road map.

The industry is now forecast to employ roughly 1.57 million workers by 2022, or more than 13 percent below the previous figure of 1.8 million workers. The annual growth rate in

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