Why Invest in the Philippines?
The Philippines is rapidly emerging as a top investment destination in the world. In fact, in 2018, a global research firm, the US News & World Report declared the Philippines as the 'Best Country to Invest In.' “In contrast to declining inflows of foreign direct investment, or FDI, to Southeast Asia as a whole, the Philippines continued to perform well, according to United Nations data. In years to come, the country is expected to receive more FDI from within the region from powerhouses like China that are looking to utilize available labor in developing nations,” the US-based firm reported.
A giant in the banking industry, HSBC predicts the Philippines to be the biggest economy in the ASEAN and 16th largest in the world by 2050. So why invest in the Philippines? Not only do the numbers show a very promising future for the country, there are also many other reasons why the Philippines is considered as a top investment destination.
According to the World Bank, the Philippines is the 10th fastest growing economy for 2018. The growth is led by strong domestic demand, recovery in exports and robust infrastructure dev't.
The Philippines is world-renowned for its fluent English speaking population. The Philippines is also in a demographic sweet spot with a large pool of young, competent and reliable human resources.
Reaching nearly 110 million in Total Population, not only is the Philippines the 2nd largest ASEAN country, it also has the highest growth rate in the region with an average of 1.5% annual growth rate.
Despite dipping to 11th place as fastest growing economy in 2019, the Philippine economy remain strong and resilient amid external shocks to the financial market. With exceptional and steady growth over the years, the Philippines has been able to overcome many external challenges and continues to defy obstacles such as global economic slowdowns and trade wars.
The Philippines is undoubtedly in its "Golden Age of Infrastructure". With the government's 'Build, Build, Build' initiative, the Philippines has been seeing a boom in infrastructure projects. With a budget of $158 billion for the next five years, the country will be seeing very big and welcome changes such as new and improved airports, railway systems, and thousands of kilometers of new roads.