Title: Philippines’ Digital Interactive Industry Contributes P325 Billion to Creative Economy in 2022, Reports Claim
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The digital interactive goods and service activities in the Philippines, which encompass game development and animation, have made a substantial contribution of P325 billion or over 20 percent to the country’s creative economy in 2022, according to a recent report. The industry exhibits strong potential for further growth but acknowledges the need to upskill local talents to sustain this growth trajectory.
During her speech at the first Philippine Game Development Expo (PGDX) held at the SMX Convention Center in Pasay City on August 18, Ma. Corazon Halili-Dichosa, Executive Director of the Board of Investments (BOI), referred to the results of the National Skills Mapping and Survey, highlighting a 4.5 percent growth in the digital interactive goods and services sector in 2022, which resulted in the employment of 388,838 workers.
“As one of the higher-value segments of the IT-BPM industry, we recognize the notable contribution of the game development industry to the Philippine economy and quality employment of Filipinos,” stated Halili-Dichosa during the PGDX event organized by the Game Developers Association of the Philippines (GDAP).
However, the report also raised concerns regarding the preparedness of talent entering the game development industry, given its immense potential for growth. It emphasized the importance of proactive government interventions to equip students with the skills required to remain competitive on a global scale. The report’s findings reflected a need for reskilling and upskilling the industry workforce.
In response, the BOI aims to drive the industry towards higher levels of growth and achieve its roadmap targets. Halili-Dichosa emphasized the need to continually replenish the pool of qualified labor and reduce training costs for local companies.
To address these challenges, the BOI has been collaborating with the Department of Education (DepEd) to implement various initiatives, such as the upcoming program “Kids for the Future of Philippine Industrialization.” This program seeks to support learners and educators in enhancing their knowledge of industry trends, technologies, and competency requirements. The BOI has also partnered with education agencies to implement projects and programs that align with the needs of industries and prepare graduates for fruitful careers.
In line with their vision of “Make It Happen in the Philippines,” the BOI recently launched “Youth Can Make It Happen” in partnership with DepEd. This initiative aims to influence the younger generation positively, ultimately contributing to the future growth of the domestic economy.
With the digital interactive industry playing a significant role in the Philippines’ creative economy, fostering talent development and implementing strategic collaborations with educational institutions will ensure the industry’s sustained growth and competitiveness in the global market.
