The Philippines seems to be going full steam ahead in terms of economic performance. Top economic specialists are now considering the Philippines as the next Tiger Economy. After just recently experiencing a judicial turmoil, investors are becoming more confident with the country’s economic ability and sustainability. Let’s see why.
- Duetsche's chief economist for Asia Michael Spencer stated the Philippines as the strongest as well as the safest place for funds to be
- Safest due to relative low trade contact with the United States and Europe which are now experiencing economic crisis
- High Exports to neighboring countries like Japan, China, Singapore and Hong Kong
- Resilient Remittance Story which helps banks remain stable, mall and other retail outlets flourishing and active, and real estate investments booming
- Resilient young population of consumers that can enhance consumption
- Expected increase in government infrastructure projects this 2012 and coming 2013
- Local stock market has been hailed as the 2nd best performer worldwide year-to-date
- Now the most expensive market in the region
With all that is happening in the country now, there is a possibility of a bright future. The road to success is never easy and there will always be hurdles to overcome. When the ground breaking for construction begins next year, the country can expect more economic activity through supply chains and increase in employment.
Click here to read the full article by Katherine Visconti of Rappler