Economy

Offering little to no experience or expertise prior to 2003, the meteoric growth of the Philippines’ business process outsourcing (BPO) industry has largely been due to the availability of good infrastructure alongside a large and trainable talent pool with a unique cultural affinity with the US and other Western markets. Recognising the catalyst for national development...

In 2003 the Philippines’ potential as a business process outsourcing (BPO) centre was fully realised after a five-year trial phase. The industry had a compound annual growth rate (CAGR) of 30% from 2006-10, surpassing the 15% global average, according to the Business Processing Association of the Philippines (BPAP).

With mounting evidence that global economic activity is tipping towards a further slowdown, the Bangko Sentral ng Pilipinas (BSP) is actively deploying monetary policy to spur domestic demand while at the same time maintaining price stability.

Integral for companies doing business in the Philippines, corporate social responsibility (CSR) and engaging with local governments and communities are key for large investors operating in the country. Owing to the geographical make-up of the Philippines, legal and regulatory systems are largely decentralised, with local groups wielding substantial...

Although economic headwinds have thrown international markets off course, the Philippine economy has managed to stay on a relatively even keel. Local authorities note that while real GDP growth slowed in 2011 relative to 2010 due to weak external demand and government underspending, household consumption has continued to see strong growth due to a...

A 2010 World Bank report noted that “middle-income countries in East Asia will, on average, need to spend over 5% of GDP on infrastructure to meet their needs.” This fact has not gone unheeded by the government and the need to up spending on key infrastructure projects has been brought to the top of the priority list by economic planners. President...