Why are the Philippines evolving?

PDWhy are the Philippines evolving at such a rapid pace?


1. The outsourcing industry from overseas is thriving

The Philippines is the only country in Asia that officially speaks English, so language wise, itfs high level.



Also, because labor expenses are cheap as e the average monthly income for a Filipino is about 500 USD (as of 2016), eBusiness Process Outsourcingf has been thrived from English countries including phone call centers from major countries such as America, England and Australia.



In fact, 12% of the GDO was comprised of BPO businesses for the 2012 financial year, it is estimated that it will be increased to 20% in 2016. (sourced by Philippine outsource center)



2. The worldfs 2nd biggest casino power

The Philippinefs casino industry has grown at a yearly rate of 28% according to a 2013 Credit Suisse report.



The Philippines will exceed Singapore and Cambodia casinos which are the worldfs second and fourth largest casino powers respectively and it is estimated to become the largest casino power in Southeast Asia (second place after Macau) with a market scale over 61 billion dollars by 2018.



This situation is related to the high number of casino resort users from China and especially those VIP customers from Macau that have been increasing as the regulations of use in Macau for allurements have become stricter.




QDInternational rating and reputation of the Philippines



According to material published by Tadashi Izumi, who is a Japanese person active in the center of Philippines politics and finance, the three major rating companies rated the economic power of the Philippines and its stability for the future highly and upgraded it to an investment grade country in 2014.



March 27, 2013
Fitch Ratings, the UK based rating company



May 2, 2013
STANDARD & POORfs, the US based rating company



October 3, 2013
MOODYfS, the US based rating company



May 8, 2014
The US based rating company STANDARD & POORfS moved the Philippines economy ranking up one.



December 12, 2014
The US based rating company MOODYfS moved the Philippine economy ranking up one.




RDComparison between the Philippines and Japan

Philippines Japan
Capital Manila Tokyo
Land size 299,404 km2 377,972 km2
Population Approx. 100.98 million people (12th highest in the world)
*The population of Manila is about 21.29 million people (the 5th largest city population in the world)
Approx. 127.11 million people (the 11th highest in the world)
*The population of Tokyo is about 13.23 million people
Official language EnglishATagalog
ithe only English speaking country in Asia/95.6% literacy ratej
ialmost 100% literacy ratej
Religion Christian
ionly the ASEAN/93% of the nationj
Average age 23 years old
isourced by the National Statistical Coordination Boardj
44.9 years old
ias of the 2011 financial yearj



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