Philippines

A positive feedback loop is at work in which banks are increasingly driving economic growth, supported by inflows of foreign investment and from Filipinos working abroad, while growing trust in the banking system is drawing greater volumes of savings. With real GDP roughly doubling between 1999 and 2014, bank deposits as a share of GDP also rose, from 40% in 1999 to 52% in 2014, while the...

Although foreign direct investment (FDI) volumes are smaller than what countries in its peer group attract, the Philippines has been catching up at an impressive pace. FDI rose from $1.1bn in 2010 to $4.9bn in the first nine months of 2014 as economic growth has accelerated and business policies have improved. With seven investment promotion agencies offering a variety of tax exemptions and...

The Philippines’ emergence as a growth leader has been building gradually since the 1990s, following a long period of low growth and political upheaval. The country’s economy continues to enjoy a period of rapid, broad-based expansion as the business process outsourcing sector and rising remittances from overseas workers drive growth in consumer-oriented industries and construction. Although...

A history marked by successive waves of human migration has shaped a multicultural present, with the Philippines being home to multiple ethnicities and dialects. The country’s abundant biodiversity, natural resources and youthful demographics are all assets that have garnered recognition from investors in recent years. With presidential, congressional and local elections all scheduled for next...

With large, easily accessible oil and gas discoveries long since picked over, a continued decline in petroleum production has encouraged a heavy reliance on foreign imports. While new exploration blocks offered up in 2013 could provide potential for more technically challenging opportunities in the coming years, the majority of the coveted offshore areas remain off-limited due to acrimonious...