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The City Government of Davao through the Davao City Investment Promotion Center (DCIPC) recently presented during the Regional ICT Summit Exhibitions (RISE 11) highlighting the contribution of the IT-BPM industry in the local setting.
During its RISE 11 presentation, Christian D. Cambaya, DCIPC Unit Head, said the IT-BPM sector is key to boosting the economy by providing millions of jobs and bringing in a lot of opportunities to help the local grow and thrive.
“It doesn’t just create jobs, it also drives innovation and makes local businesses more competitive worldwide,” Cambaya said.
Mr. Cambaya reported that Davao City garnered the highest Gross Domestic Product (GDP) in Davao Region at P495.31 billion, contributing a total of 51.9% in the region, and 70.4% in terms of services.
“The BPO industry contributes substantially to Davao’s GDP, and the city is one of the
largest contributors to the country’s BPO revenue after Metro Manila, Cebu, and Clark,” he said.
He added that the IT-BPM industry has contributed more job creation and employment opportunities for local residents, especially among young professionals and recent graduates.
“As of 2023, the BPO sector in Davao employs over 75,000 people directly, according to industry sources, making it one of the largest employers in the city,” he said.
He also underscored that it also led to a significant real estate development, improvement in infrastructure, skills development and workforce quality enhancement, increased government revenue and public services, growth in local enterprises, and social and lifestyle enhancements.
Technology, as one of the preferred investment areas of Davao City, contributed approximately P15-P20 billion with a growth rate of 8% to 10% in the local economy.
“At present, Davao City is witnessing a favorable trend in the expansion of the office market. Due to the influx of BPO/KPO, there is an increase in the demand for office spaces. Purchasing power has also increased,” he stated.
Mr. Cambaya also stressed how the city supports and assists such investment to continuously come in.
“What we’re actually doing is trying to make our policies more efficient, which includes securing business permits and other local permits and all and we believe if we do this right, more investors will come in,” he added.
The RISE 11 also discussed various impacts of the IT-BPM industry in different sectors, from customer support to software development, which enabled countless careers, bolstered businesses, and ensured that the economy remained competitive on the global stage.
The 2nd Innovation Summit took place at the SMX Convention Center, SM Lanang Premier from Nov. 7 to 9, 2024 and one of the main highlights of the event was the RISE 11.
