Despite gloomy global trade forecasts, the Philippines’ strong macroeconomic fundamentals, competitive geographical and labour force advantages, and rising domestic consumption bode well for future trade and investment.
Philippines Tourism
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Despite boasting a range of attractions and a reputation for hospitality on par with its regional competitors, the Philippine’s tourism industry has a long way to catch up with nearby powerhouses such as Thailand and Malaysia. Under the administration of President Benigno Aquino III, the sector has been identified as a vehicle to be prioritised for the positive impact it can have on inclusive...
A series of reforms initiated by the administration of President Benigno Aquino III in the last few years have boosted spending on infrastructure and opened key industries to outside investors. The reforms prompted a series of upgrades to the Philippines’ credit ratings and echo initiatives taken in the region as it embarks on greater integration through the ASEAN Economic Community.
The Philippine economy is gradually on the rise, largely driven by its business process outsourcing, industry and construction sectors. The average pace of growth in the Philippines in the first half of the decade was 6.3%, compared to 6% in Indonesia, 5.8% in Malaysia and Vietnam, and 3.6% in Thailand.
Under the current government, tourism has been identified as a vehicle to be prioritised for the positive impact it can have on inclusive economic growth, and efforts appear to be bearing fruit. Thanks to an aggressive and highly successful global marketing campaign, brand awareness is on the rise. Momentum looks to continue as 2015 has been designated the “Visit the Philippines Year” and is...
A diverse country with an intriguing history, the Philippines today is a multi-party, democratic republic, open to foreign investment, and integrated within the regional and international political and economic community.
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