For investing efforts on discovering emerging locations and strategically
developing Next Wave Cities
The National ICT Confederation of the Philippines (NICP), Inc. has awarded by the Board of Trustees of the Information Technology and Business Process Association of the Philippines as this year’s recipient of the IBPAP-Globe Sapphire Flare for Brilliance Award for ‘ardently investing efforts on discovering emerging locations and strategically developing Next Wave Cities.”
NICP Pres Stephanie Caragos receives the award in behalf of the NICP.
The IBPAP Flare Awards aims to bring together key industry players to recognize pioneers who have elevated the IT-BPM industry to what it is today.
NICP National President Stephanie P. Caragos, who is also concurrently chair of the Cagayan de Oro ICT Business Council, received the award in behalf of the NICP last November 6 at the Makati Shangri-La Manila.
“I received the award along with two past presidents coming from Luzon and Visayas,” Caragos said. “I was fortunate to receive it during my term but this award is due to the efforts of the organization in the past several years in helping the countryside be updated and be aligned with the next wave cities initiative of the IBPAP.”
NICP Pres Stephanie Caragos with Efren Daniel de Leon, Rosemarie Quinto-Rey & Emmy Lou Versoza-Delfin
“Congratulations again to Past Presidents Jocelle Batapa-Sigue, George Sorio, Rosemarie Quinto Rey, Wit Holganza and Wilfredo Saa, Jr! We all share this honor along with our directors and members in the NICP,” she added.
“The success of the projects implemented has resulted in increasing the number of jobs in the IT/BPM industry in the countryside. The Next Wave Cities has given cities outside of Metro Manila a chance to be known as viable locations for industry stakeholders. This award is of course credited to all the members, officers and past-presidents who have given so much of themselves to help the countryside,” Caragos added.
In the IT-BPM Roadmap for 2016-2022 posted on its website, the organization explains how the Philippine IT-BPM Roadmap 2022 is all about accelerating the growth of the Philippine IT-BPM industry – strengthening domain expertise and capabilities in the emerging sectors, leveraging advancements in technology and ensuring the Filipino talent is future ready.
With the hashtag “ACCELERATE PH FUTURE-READY ROADMAP 2022” the organization explains how it is imperative that the IT-BPM Industry evolves with the changing demands of the market to remain competitive and maintain its position as a destination of choice for IT-BPM Services as we see rapid innovations in the areas of digital transformation, artificial intelligence, big data and analytics and evolving delivery models.
BPO revenues are expected to outpace remittances from overseas Filipino workers (OFWs) by 2018, thanks in part to the rise of New Wave Cities.
The Philippines has been the world leader in the BPO industry since 2010, surpassing India in the global ranking. As of 2015, there were already 1.2 million Filipinos employed in the BPO sector compared to an estimated 2.4 million OFWs working anytime during the period April to September, 2015. In 2014, the country’s BPO $18.9B BPO earnings were still overshadowed by the $24.6B OFW remittances in 2014, comprising almost 10 percent of the country’s GDP.
NICP stalwarts with the 2017 IBPAP-Globe Sapphire Flare for Brilliance Award with NICP Pres Stephanie Caragos
But revenues from the BPO sector would very likely to outpace remittances from OFWs by 2018,Joey Cuyegkeng, ING Bank Manila senior economist, said during a recent press conference on the bank’s global economic outlook.
Cuyegkeng said this was possible because BPO revenues are seen to grow at an average of 9 percent yearly toward 2022.
According to the 2022 Roadmap of the IT-Business Processing Association of the Philippines (iBPAP), the BPO sector is expected to generate $40 billion in revenues, 7.6 million direct and indirect jobs, 500,000 jobs outside of the National Capital Region, and cover 15 percent of the total global outsourcing market by the end of 2022.
OFW remittances may generate the projected $66.7 billion by 2022, but Cuyegkeng said the 9 percent growth of the BPO sector is double the pace of the projected 4 percent yearly growth in OFW remittances from 2017 to 2022.
ING Bank expects the Philippines to maintain above 6 percent GDP growth driven by domestic consumption, contributions from OFW remittances and the BPO sector, and the accelerated infrastructure projects of the Duterte administration.
The Philippine Statistics Authority (PSA) said recent that the Philippine economy grew by 6.8 percent in 2016, the fastest since 2013, with manufacturing, trade, and real estate activities as the main drivers of growth in the fourth quarter.
“We really appreciate the recognition that IBPAP has given us. It is an honor and privilege to work side by side with IBPAP in implementing the projects, road shows and activities for the Next Wave Cities Project in various cities in the countryside,” Caragos said.
-30-