Philippines:10 Insights
about a hidden pearl
Asia 5Bringing you a flavour of businesstrends in Asia...in just 5 minutes
A Futures Coaching initiativewww.futurescoaching.com
special
The Philippines is known as 'The Pearl of the Orient Sea'
Whilst this is a pearl that has remained hidden......it is about to be discovered
growth
Economically, the Philippines is a laggard; it has the 12th biggest global population but only the 33rd biggest economy
Goldman Sachs thinks it faces “broad-based challenges”in areas like fiscal discipline, education,
investment and health care
However, by 2050, GS predicts the nation's economy could rise to 14th rank with average incomes from $20K-$40K
fertile mixThe nation is a rich blend of
western and eastern influences
The Spanish and Americans have left strong legacies –
food, a 'fiesta' culture, language, Christianity
(Islam is strong in the south)
Mixed with this is a clear Asian colouring
One of biggest English speaking nations on the
Planet
It is reckoned that 93% of Filipinos speak some English
(source: Andrew Gonzalez, Journal of Multilingual Development)
...And some 110 million have received English training
Unsurprisingly, call centres are a big industry
language
big brother
Filipinos' outward ties are strongest with America,which it sees as its protector
Americans honour their role by sending aid (e.g. in the recent flooding) & military cooperation
In Jan 2012, there were joint talks which might lead to American military bases being reinstalled on the islands
work culture
Filipinos are in demand due to their strong work ethic...but also their creativity. A new wave of entrepreneurs (Kermit Tesoro, Michael Cinco, Monique Lhuillier, Charice Pempengco)
are making names for themselves internationally
lack of confidence
Naturally optimistic and welcoming,deep down Filipinos feel that the world doesn't like them
Over-crowding, poverty, lack of jobs, poor infrastructure terrorist threats & natural disasters all contribute
to rock the national psyche
wasted potential
The Philippines has one of the worlds' biggest
diaspora with 11 million working abroad
Whilst 'Overseas Filipino Workers' are considered “the new heroes” of the
Philippines, they are evidence of a country which remains firmly a place to escape from
more waste
Whilst an official unemployment rate of 7.4% is not bad, many Filipinos consider that they are
unemployed, underemployed or simply abused
E.g. there are an estimated 250,000 trained nursesunable to find work (Professional Regulatory Commission)
thwarted
Corruption & bureaucracy slows the country
Manila's attempts to widen its roads and build its
infrastructure proceedsat a snails' pace
About Futures CoachingCelebrating 5 years!
Working for great clients Doing great thingsAnticipating
* the future of retail* the future of offices* the future of banking* the future of mobility
Innovating* new fund-raising offers* consumer healthcare NPD
Coaching* trends training for insight teams* personal rejuvenation
Speaking* engagements from Taipei to Toronto
Researching* management interviews* expert in-depths* consumer focus groups
Website: www.futurescoaching.comBlog: http://futurescoaching.typepad.com
Email: [email protected]
LONDON • PARIS
Top Related