by Elvis Elorde | via EFE |
The Economy of the Philippines is the 36th largest in the world, according to 2016 International Monetary Fund statistics, and is also one of the emerging markets. Philippine Economy now is one of the best platform to invest and grow your money. Here are the 8 Reasons why Philippines is the perfect place for Entrepreneurs
With higher education priority, the literacy rate in the country is 94.6 percent among the highest. English is taught in all schools, making the Philippines the worlds third largest English-speaking country.
2. Strategic Business Location
The Philippines is located right in the heart of Asia, today the fastest growing region. It is a critical entry point to over 500 million people in the Association of Southeast Asian Nations ASEAN market and a gateway of international shipping and air lanes.
3. First Class Lifestyle
Discover the best of sun, sea, sand and style in the tropical setting teeming with the best of western amenities. Expats enjoy accessible and affordable luxuries, business centers, housing, schools, hospitals, shopping malls, hotels and restaurants, beach resorts, and recreation centers.
4. Abundant Resources
An archipelago like the Philippines offers diverse natural resources, from land to marine to mineral resources.
5. Low Cost of Doing Business
Local communication, electricity, and housing costs are also 50 percent lower compared to the US rates. Foreign companies that are now outsourcing programming and business processes to the Philippines estimate 30 percent to 40 percent business cost savings, 15 percent to 30 percent call center services and application systems, and 35 percent to 50 percent software development.
6. Unlimited Business Opportunities
The Philippines is the natural and most strategic location for firms that want access to the large ASEAN market and its vast trade opportunities. The Philippines has enhanced and primed up various areas for investors and offers a dynamic consumer market accustomed to an array of product choices created by a competitive domestic economy.
7. Developing Infrastructure for Global Growth
A well-developed communication, transportation, business, and economic infrastructure links the three major islands Luzon, Visayas, and Mindanao and distinguishes the Philippine economy.
8. All You Need and More
The Philippines offer state of the art telecommunications facilities, adequate, and uninterrupted power supply. There are ready to occupy offices and production facilities, computer security and building monitoring systems, as well as complete office services in specialized information technology IT zones. With the governments focus on building up an IT-enabled economy, the Philippines is on its way to becoming the e-Services Hub of Asia.