Philippines

Overview

The Philippines is an archipelagic nation in Southeast Asia whose economy is shaped by urbanisation, a large and youthful population, and domestic consumer demand. Remittances from Filipinos working abroad connect households to the wider world and support spending at home.

Services are an important part of the country's private-sector economy, with IT and business-process management linking Philippine workers to international businesses. Manufacturing, agriculture and tourism provide other paths for development across the islands, while improving productivity and creating better jobs remain central challenges.

On the rise

International business services and a growing domestic market offer opportunities to broaden the economy — with investment in skills, infrastructure and productivity essential to turning expansion into better jobs.