Key Growth Drivers of the Philippine Economy

WHAT'S FUELLING THE PHILIPPINES' STEADY ECONOMIC GROWTH? 1) Unlike other Asian countries where majority of the population is aging, more than half (61%) of the Philippines' populace can still work and earn a living. http://www.nytimes.com/2012/08/28/business/global/philippine-economy-set-to-bec ome-asias-newest-bright-spot.html?_r=1&pagewanted=all A study released by Knight Frank and Citi Private Bank forecasts 7.3% growth will be posted by the Philippines from 2010 up to 2050, making it the 6th fastest growing economy in the world. http://www.rappler.com/business/10928-ph-to-post-high-growth-until-2050 3 The country's credit rating was upgraded by Standard and Poor's from BB to BB+, the highest rating given since 2003. http://www.bbc.co.uk/news/business-18718090 Of the 5.9% economic growth posted by the Philippines for this year's second quarter, 4.3% was contributed by the services sector, 1.5% was from industrial operations, and 0.1% was contributed by agriculture. 4 http://www.rappler.com/business/11404-ph-gdp-exceeds-expecations-at-in-q2 The country's economic performance in Q2 2012 puts it to third place, right behind China and Indonesia. 3rd http://www.rappler.com/business/11404-ph-gdp-exceeds-expecations-at-in-q2 The country's BP0 sector is set to contribute $11 billion this 2012, revealing a 24% growth from last year. http://www.rappler.com/business/11327-why-the-philippines-is-asia-s-bright-spot (4th On the industrial side, the Philippines is now cited as the 4th country in terms of building ships and steel milling. 7 http://www.philstar.com/Article.aspx?articleld=814326&publicationSubCategoryld=66 8. The unemployment rate in the country has dropped from 7.2 % during April of last year, to 6.9 % in the same period this year. http://www.manilatimes.net/index.php/news/top-stories/24965-phi lippine-unemployment-rate-drops-to-69-percent The Philippine government is currently exerting extra efforts in developing 'Next Wave Cities" for BPO operations. These are: Davao City; Sta. Rosa City, Laguna; Bacolod; lloilo; Cavite; Lipa, Batangas; Cagayan de Oro; Malolos, Bulacan; Baguio City; and Dumaguete, Negros Oriental. Other aspirant-cities are Dagupan, Legazpi, Metro Subic, Metro Naga, and General Santos. 9. http://www.tempo.com.ph/2012/next-wave-cities-as-alternati ve-sites-for-business-process-outsourcing/ 10 Among the 76 countries surveyed by GlobalEnglish, the Philippines was able to score 7.0 in the Business English Index, making it the world's best country in business English. http://ph.news.yahoo.com/ph--world-s-best-country-in-business-english.html MICROSOURCING www.MicroSourcing.com WHAT'S FUELLING THE PHILIPPINES' STEADY ECONOMIC GROWTH? 1) Unlike other Asian countries where majority of the population is aging, more than half (61%) of the Philippines' populace can still work and earn a living. http://www.nytimes.com/2012/08/28/business/global/philippine-economy-set-to-bec ome-asias-newest-bright-spot.html?_r=1&pagewanted=all A study released by Knight Frank and Citi Private Bank forecasts 7.3% growth will be posted by the Philippines from 2010 up to 2050, making it the 6th fastest growing economy in the world. http://www.rappler.com/business/10928-ph-to-post-high-growth-until-2050 3 The country's credit rating was upgraded by Standard and Poor's from BB to BB+, the highest rating given since 2003. http://www.bbc.co.uk/news/business-18718090 Of the 5.9% economic growth posted by the Philippines for this year's second quarter, 4.3% was contributed by the services sector, 1.5% was from industrial operations, and 0.1% was contributed by agriculture. 4 http://www.rappler.com/business/11404-ph-gdp-exceeds-expecations-at-in-q2 The country's economic performance in Q2 2012 puts it to third place, right behind China and Indonesia. 3rd http://www.rappler.com/business/11404-ph-gdp-exceeds-expecations-at-in-q2 The country's BP0 sector is set to contribute $11 billion this 2012, revealing a 24% growth from last year. http://www.rappler.com/business/11327-why-the-philippines-is-asia-s-bright-spot (4th On the industrial side, the Philippines is now cited as the 4th country in terms of building ships and steel milling. 7 http://www.philstar.com/Article.aspx?articleld=814326&publicationSubCategoryld=66 8. The unemployment rate in the country has dropped from 7.2 % during April of last year, to 6.9 % in the same period this year. http://www.manilatimes.net/index.php/news/top-stories/24965-phi lippine-unemployment-rate-drops-to-69-percent The Philippine government is currently exerting extra efforts in developing 'Next Wave Cities" for BPO operations. These are: Davao City; Sta. Rosa City, Laguna; Bacolod; lloilo; Cavite; Lipa, Batangas; Cagayan de Oro; Malolos, Bulacan; Baguio City; and Dumaguete, Negros Oriental. Other aspirant-cities are Dagupan, Legazpi, Metro Subic, Metro Naga, and General Santos. 9. http://www.tempo.com.ph/2012/next-wave-cities-as-alternati ve-sites-for-business-process-outsourcing/ 10 Among the 76 countries surveyed by GlobalEnglish, the Philippines was able to score 7.0 in the Business English Index, making it the world's best country in business English. http://ph.news.yahoo.com/ph--world-s-best-country-in-business-english.html MICROSOURCING www.MicroSourcing.com