Davao City has been identified as one of the top 10 highest-earning local government units (LGUs) in the Philippine last year, thanks to its booming information technology-business process outsourcing (IT-BPO) industry. Davao City Chamber of Commerce and Industry president Bonifacio Tan said sales and property taxes of the Davao City Government have risen year after year due to the increasing number of IT-BPO companies, malls and property development, hotels and accommodation industries. The Commission on Audit has ranked Davao City as the sixth highest-earning LGU in 2015, with total reported revenues of P6.2bn (USD128m). Davao has also been earlier identified as one of the top new destinations for BPO locators in the Philippines.
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