The health sector emerged as one of the big winners in the Philippines’ 2016 draft budget, with a significant increase in funding allocated for the coming year.
Philippines
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Falling global coal prices and rising domestic demand will see a growing number of private coal-fired power plants open in the Philippines by 2020, dramatically improving electricity supply in the wake of continued shortages.
Home to the world’s third-largest remittance market after India and China, the Philippines is witnessing robust growth in the tech industry as the number of remittance payment platforms for the unbanked proliferates.
The automobile industry notched up a robust performance in the Philippines last year, with record sales continuing in early 2015, largely due to economic expansion and the growth of the middle class.
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.
Articles & Analysis | The Philippines has something for everyone from The Report: The Philippines 2015
As the Philippines attracts tourists in ever greater numbers, the focus of the sector has shifted away from the mass market to promoting the country as an ecotourism destination. Crucial to this strategy has been an focus on sustainable development, emphasising projects with a minimal impact on the environment, as well as efforts to avoid the displacement of indigenous...