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Rediscovering the Philippines

Official Name: Republic of the Philippines

Geography: Archipelago of 7,107 islands

National Languages: English, Filipino

Population: 103 Million

Labour force: 41 Million

Currency: Philippine Peso

Religion: Roman Catholic- 90%
                Muslim - 8%
                Other - 2%

GDP: $250.3B (2012)

The Philippines is making a huge comeback on the world stage:

  • The Philippines has the fastest-growing economy in Asia with a GDP growth of 7.8%. The Philippines is politically stable with government incentive programs that encourage foreign companies to invest in the country.
  • The Philippines received its first investment grade credit rating from both S&P and Fitch in 2013, and will see a substantial increase in foreign direct investment.
  • Tremendous progress in terms of the quality and reliability of its infrastructure and business support capabilities.
  • English is the official language of government, education, and business with the majority of Filipinos generally fluent in English.
  • The Philippines has a very young population with a median age of 23. The country also has excellent higher level education, and an abundance of highly trained professionals.
  • The Philippines is culturally diverse, thanks to centuries of Asian, Spanish, and American influences. This has made Filipinos highly adaptable and easy to work with.
  • Salary levels are roughly 30% of what they are in the United States. Savings of 50% to 80% on your cost of service are easy to achieve through MicroSourcing.