Republic of the Philippines

Capital: Manila                            HDI: 0.660 (117th)

Language: Filipino, English

GDP (PPP): $692.2 billion

Currency: Philippine Peso

Population: ~ 101 million

The island archipelago of the Philippines is one of the world’s newly industrialized economies. The country has weathered global economic shocks well thanks to its diversifying economy and the country running surpluses in the 21st century. Economic growth has been steady and high and foreign investment has been steadily increasing over the last few years. In particular business process outsourcing has been seen as having a high potential of growth in the future, due to high levels of English skills and increasing education. The economic growth will play a major role in reducing low income levels over the next decade.




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