Having grown at a compound annual growth rate of around 10% over the past decade, the BPO sector has become the country’s largest source of private employment and the second-largest contributor of foreign exchange earnings after remittances. By 2020 the global BPO industry is forecast to be worth $250bn and the Philippines is seeking to cement its position as a preferred global service...
The construction and real estate sectors make up around 20% of the Philippine economy, slightly ahead of manufacturing, and as of the first quarter of 2014 accounted for 7% of national employment. The industries have been thriving in a climate of political stability and upbeat business sentiment, spurred by growth in overseas workers’ remittances, investments into business process outsourcing...
Transport and infrastructure is a key component of the national economy, which will be better able to achieve its potential through improved linkages between economic centres and cities across the archipelago. With public infrastructure spending rising to 4.1% of GDP in 2015, the need for greater private sector participation is crucial to ensuring efficient and effective delivery of projects....
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...
The administration of Benigno Aquino III aspires to achieve inclusive, broad-based growth, a goal which necessitates a strong manufacturing base that presents employment prospects for skilled, semi-skilled and low-skilled workers. The country’s demographic dividend, attractive workforce, projected economic growth and the continued improvement of its business environment are combining to...
Although the industry remains somewhat crowded and highly competitive, a recent push for consolidation, including ongoing hikes in capital requirements, should keep the sector on a strong upwards trajectory in 2015 and beyond. The industry stayed resilient despite the destruction caused by Typhoon Haiyan in November 2013, with double-digit increases in investments and assets in 2014. While the...
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