The country's business process outsourcing (BPO) companies and captive centers of international corporations are responsible for generating high-paying jobs for Filipinos
according to Pasig City representative and chair of the House committee on higher and technical education Roman Romulo.
Romulo named 45 large BPO firms as the Philippines' leading employers, adding that the companies greatly reduce unemployment among recent graduates and young professionals. Romulo expects the outsourcing and back office providers to lead the creation of over 248,000 jobs in the BPO industry in 2015 and 2016.
In 2013, the combined revenues of BPO companies hit $5.9 billion. The Philippine BPO industry is expected to generate up to $27 billion in annual revenues and employ more than 1.3 million Filipinos by 2016, according to the IT and Business Processing Association of the Philippines or IBPAP. The IT-BPO sector employs about 1.052 million Filipinos as of 2014.