As the global economy hits a slump because of the pandemic that halted the world’s economic activities, every country in the world suffered losses; including The Philippines. Nevertheless The Philippines has proven its resiliency by fending off the bearish maul of the market. The Country has laid down solid groundwork to ensure that the financial vigor of the Philippines will be more robust than it was before, making The Philippines the best place for an investment during these trying times.
Long-Term Economic Stability
The Philippine GDP grew by 8.3% in the 1Q of 2022, still one of the fastest-growing economies in Asia. Trade, construction, and manufacturing were the main drivers of growth.
The Philippines is located right in the heart of Asia. It is located within four hours flying time from major capitals of the region. It is a critical entry point to over 700 million people in the Association of Southeast Asian Nations (ASEAN) market and a gateway of international shipping and air lanes suited for European and American businesses.
Strong remittance inflows
The Philippines belongs to the biggest destination of remittance flows. Remittances from more than 10 million overseas Filipino workers are the second-largest source of foreign exchange for the Philippines, next to the earnings of the business process outsourcing sector. Overseas Filipinos sent USD7.8 Billion (January to March 2022) up by 2.4% from the same period last year.
Credit rating upgrade
The investment grade of the Philippines shows the nation’s strong economic performance and policies. The Philippines’ positive outlook in credit rating proves how intact it is to invest in the country.
Low Cost of Doing Business
The Philippines continues to be Asia’s rising star due to its robust macroeconomic expansion in recent years. Foreign companies that are now outsourcing programming and business processes to the Philippines estimate 30%-40% business cost savings.
An archipelago like the Philippines offers diverse natural resources, from land to marine to mineral resources. It is also the biggest copper producer in Southeast Asia and among the top ten producers of gold in the world. It is also home to 2,145 fish species, four times more than those found in the Bahamas. The 7,100 islands boast of beautiful beaches and breathtaking sceneries that offer soothing leisure and relaxation spots for vacationers
unlimited business opportunities
The Philippines is the natural and most strategic location for firms that want access to the large ASEAN market and its vast trade opportunities. The Philippines has enhanced and primed up various areas for investors and offers a dynamic consumer market accustomed to an array of product choices created by a competitive domestic economy.