The Philippines’ economy is service-oriented, with key contributions from remittances, BPO (business process outsourcing), and manufacturing. Market competition is vibrant but hampered by infrastructure deficits and corruption. Public policies prioritize infrastructure development, poverty reduction, and regional integration under the “Build, Build, Build” program. Regulatory reforms aim to attract FDI, particularly in emerging sectors. Filipino society is young and consumer-driven, with a strong diaspora supporting the economy. Education access is broad, but quality and alignment with labor market needs remain issues. Healthcare is improving but underfunded, with rural areas underserved. Climate vulnerabilities, including typhoons and rising sea levels, pose significant risks. The Philippines’ dynamic economy offers growth potential if structural reforms are sustained.
