Philippines is in the heart of the Asia-Pacific Region – one of the fastest growing economic region in the world. Its strategic location near Asia’s 10 major cities, its English language-proficient workforce, and its young population, with approximately 45% below the age of 20, make it attractive for outsourcing and investments.
Its economy is driven largely by an extensive, first-rate BPO sector; massive worldwide expatriate remittances from its global Filipino workforce, ranked #4 in the world only next to China, India and Mexico; and a dynamic, multifaceted tourism industry.
With close to 100 million people, and being the 12th most populated country in the world, it has remained remarkably resilient, being only one of 3 Asian countries that posted positive GDP growth during the recent downturn of 2009. Its recent economic triumphs have created a burgeoning middle-class that’s eager and able to afford new housing, personal amenities, and a better quality of life. This trend is powering the country’s present robust consumer spending and real estate boom. With property prices going at a fraction of their major Asian counterparts, Manila has become a potent base for international business and investment.
Indeed the Philippines’ highly technologized, future-focused cities, positive economic policies, friendly people, and vibrant city culture make it a viable center for any global business.