The Philippines

Philippine flag

The Philippines has long underperformed in terms of economic development. Plagued by endemic corruption, economic stagnation, violent crime and secessionist movements by communist and muslim groups, its most famous export has been its own people. In total it is estimated that almost 5 million Filipinos work throughout the world, accounting for a large portion of the country’s foreign revenues through homeward remittances.

Since 2010, however, there have been reasons for a renewed sense of optimism, as the country’s growth rate jumped from an average of just over 4% to over 7%, and the outlook for the country is better than ever before.

Having weathered the financial crisis better than many of its other regional neighbours, the underpinning driver for this new economic growth is investment in the country’s burgeoning out-sourcing industry. The combination of low labour costs and high levels of English language competence make the country a top investment choice for call-centres in particular.

 

Population: c. 101,834,000
Capital City: Manila
Government: Multi-party Democracy
Languages: Tagalog, English, others
GDP per capita (PPP): $3,500
Growth Rate Fluctuation Range: 3%-8%

 

Contact Us

Phone usEmail us

Tel: +44 (0)1634 820799

Follow Us

Linked In Twitter RSS feed

Market Development

Go East Explorer

Go East Venturer