american encrouched several decades in PNP also left rmany illegitimate childs in PNP. Also Phillipinas are raped. illegitimate.childs still on the rise. what is tn original native country name, pnp is a colonied name , must restated original country name. so many pnp maids eorking oversea . what so miricle.
It does as evidenced by the growing middle class. The tax bureau reported increase in tax collections from Filipinos who are engaged in small to medium businesses, professionals, private employees and government officials. High income Pinoys are increasing.... tax returns don't lie.
@@ryangamboa9814 The video is about GDP growth. Our entry to Upper Middle Income category is going to happen in 2025. GNI per capita performances of the country in 2022 and 2023 were above 10%. In 2024, it's gong to be a blast, too.
The Philippine 🇵🇭 economy has consistently been doing very well under different Philippine administrations because it has built a strong consumer economy where the national earnings from its key core economic drivers of overseas Filipino remittances, business process outsourcing and tourism and other service industries have been plowed back and generating further economic activities. Huge infrastructure spending under the Build, Build, Build and the Build Better More programs have given tremendous boost to our economy in the form of better roads, massive new superhighways, an emerging mega-airport in the province of Bulacan and a sprawling new subway system in the National Capital Region of Mega Manila. To diversify our economy even more, the Philippines needs to develop its Manufacturing potential, its Agri-Business potential, as well as its Mining industry where much of its national endowments lie. The Philippines’ traditionally strong position in the global business process outsourcing eco-system need to be further strengthened to incorporate the new features of artificial intelligence (A.I.) to make it more competitive. The combination of all these may propel the Philippine Economic Growth to 10% annually and drastically cutting down our poverty numbers.
@@Janet1001-X we don't want more manufacturing. Philippines is not suited for manufacturing. We should focus more on light industries and high tech products Tourism & BPOs. If we have so many heavy industries, Philippines will become very polluted.
@@srebaayao9616NUCLEAR energy is the most reliable, the cheapest and the cleanest energy on the planet, so there's no excuse for not having a manufacturing industry in the Philippines.
Supporting local products, farms, businesses should be encouraged more. Nowadays, even in music industry we are becoming more open to embracing our own which is a great improvement to see.
@@mrconfusion87AI would never replace humans, you'll know that better if you had taken an actual call where those folks are infuriated if they encountered bots.
There are indeed extremely wealthy Filipinos, with some being multi-millionaires, but on the other hand, there is also a significant portion of the population living in extreme poverty. This should serve as a challenge for the Philippine government to narrow the gap between the rich and the poor.
Since 1986, it grew drastically due to the Remittances of OFWs, BRUNEIYUKI and Japayuki then BPO and call centers came that floods The Philippines with foreign currencies such as dollars, liras, yen, euros, british pounds. Thus, there was overcrowding of establishments, businesses and developments everywhere in The Philippines.
We need to further open up more industries to 100% foreign equity ownership like what we do to the BPO industry like natural resource extraction, agriculture, forestry, real estate, SMEs, mass media, publishing, advertising, and education.
@@waynegrant4070 It has to be because foreigners without legal ownership rights cannot get mortgage loans from commercial banks without presenting documentary proof of ownership like land title certificates as collateral. Allowing them to become legal landowners will end the practice of old foreign retirees marrying innocent Filipino women who are 40 years junior and putting the latter's name in the land title and land sale certificates.
Not the natural resources extraction. Learn the history of American 100% Parity Rights in the Philippines. They exploited the natural resources and left nothing to Filipinos!
Lots of things have changed. Before we don't know where we will find our next meal. My younger brother haven't eaten and he is only silent in a corner. My youngest sister is crying saying her stomach is aching. My father was dying of tuberculosis while my mother was staring nowhere because of hardships. Because of sheer determination and hardwork one by one they are now graduating in college, and the other one owns her own company. Our government may be corrupt and inefficient but the Filipino people are very hardworking and far-reaching if work as a team.
It is time that Philippines needs to restore the monetary value! for what we the news the mission of Pres Aquino is pay some of the debts of the Philippines
7 years from now we have the Subways, more highways, Mrt’s, Lrt’s, Bridges, International Airports, ports, new Global cities by the Bay Area & Clark & many more
The filipino worker or small online entrepreneurs will always find new creative ways to make money. But once you need to build a huge industrial plant hiring hundreds of laborers then corrupt and greedy politicians and errant government employees will take a bite and demand bribe money which will lead to the demise of the project. Intel Corporation, which operated for 35 years in the country, Hanjin (12 years) and Shell/Chevron (21 years). Then, as now, these companies closed their Philippine operations and left thousands of unemployed workers.
The government and private sectors need to create more industries so people can work. Industries like mining, oil and gas, robotics, transportation (vehicle assembly), electronics (components or assembly).
Also AI, we do have a good IT-BPO sector so the transition wouldn't be that hard. Plus, we already have reputation working for foreign clients developing their software and customer service.
You cant create these industries without enough education and training. DepEd, CHED (w/ TESDA) are very important to deliver. We need this kind of workforce that is knowledgeable and well trained That's why current admin of PBBM is prioritizing STEM
tumigil ka nga. sisirain lng ng heavy industries ang pilipinas. Philippines is too beautiful to become polluted. concentrate na lang tau sa tourism, bpo, light industries and high tech products. mining? puro na butas ang pilipinas. kalkal dito kalkal duon.
@@NewB2025 We do have workforces, they just don't have jobs here to practice their profession that is why our technical people - our engineers and high skilled individuals are applying work abroad. If we have a place for them, they should have stayed and helped propel our economy.
Get rid the 60/40 fdi restriction. Lower power cost, build power plant. Support Manufacturing and steel factory. Attract more tech transfer for military ship building.
The 2023 Corruption Perceptions Index scored the Philippines at 34. When ranked by score, the Philippines ranked 115th among the 180 countries in the 2023 Index. For comparison with worldwide scores, the best score was 90 (ranked 1), the worst score was 11 (ranked 180), and the average score was 43.
I think it was during the former Philippines president Gloria Macapagal Arroyo who crafted the solid foundation of our economy today. The BPO started to grow since 2001 and the crucial increase of VAT.
The real problem of philippines is we intend to vote for people who is more famous rather than people who is more deserving thats why theres so many ex- artist celebrities now are politicians...example is on our last election no1. who has votes in senator is an celebrity than dont even know politics and he said before he dont even want to be a politician before...so many filipino who are not voting for the right person then blame the governtment for curruptions..😢😢when its there own fault for voting them..
Voters should be made to take a test to see if they know basic things about current events, the economy, major political issues and the West Philippine Sea. Twenty basic question should be asked and a score of 15 out of 20 should be the passing grade.
setting up business here can actually be profitable. However, the problem is too much bureaucracy, too much permits to be approved, red tape. our government should address the ease of doing business in the Philippines plus relaxation of foreign ownership restriction so more capital could flow to the country.
The Philippines have the 2nd lowest ratio in terms of users of credit cards among the Top 6 economies in the ASEAN. The money comes from remittances and BPO employees and those employed in the public sector.
Household debt of Filipinos is low compared to Thailand, Malaysia and Singapore. Just imagine if more Filipinos will have access to credit or bank finances, our GDP will really explode big.
The economy is growing, but not for the poor or middle class. I live in cebu city for 7 years, visiting for 30 years. There is no trickle down economy here, everything stays up top. I have many many filipino friends, most of them work at call centers or restaurants. Their pay rarely if ever increases, they make around $1 an hour at restaurants. Many work at western style restaurants, and they work long hours and get only around 400 to 450 pesos a day. No benefits, and most have travel an hour or so to get to work. It is really sad, and some of the restaurants are run or owned by foreigners. They charge western prices for their food almost,,,,How would u like to work for $8 a day? Also, most of them get laid off eventually, they have to sign a contract or job review for each year. You can be let go for any reason
Compared to Vietnam (now gearing up to take Zhenshen and Guangdong as the low-cost "everything" manufacturing hub) and Indonesia as tourism & mineral-based (e.g. oil & gas) exports, the Philippines is mostly a local/domestic-focused manufacturing & service economy - albeit with minor exports to expats abroad. The Philippines exports more talent than products, IMHO. That of OFWs, expats & Balikbayans, and outsourcing services. Growing those niches are not like those of Vietnam's or Indonesia's. They are nice niches but don't expect fast riches!! Still, the Philippines should be able to keep the 5-9% GDP growth rate as the overall size of the economy is not that big (yet) in the sub-500B annually. I will keep my fingers crossed for BBM to succeed, though. The Philippines deserves better.
Philippines is a fast developing country on track to become 1st world country with many many BIG Infra projects are ongoing construction in Metro Manila including the ambitious multi - USBillion Dollar Hi - Speed Subway Train that is Philippines massive progress, Philippines economy is truly booming,Mabuhay Philippines!
One obstacle to the Philippine economic growth is COST…expensive utilities, logistics, labor…even opening up the economy will not attract investment when they can’t make money…government is addressing this by building more infrastructure, renewable energies and modernising agriculture which is one of the major driver of inflation…but not fast enough to implement due to bureaucracy and politics..
american encrouched several decades in PNP also left rmany illegitimate childs in PNP. Also Phillipinas are raped. illegitimate.childs still on the rise. what is tn original native country name, pnp is a colonied name , must restated original country name. so many pnp maids working oversea . what so miricle.
The tax bureau reported that 2023 collections exceeded the target. This year 2024, they also reported record high of tax collections. It bodes well for the growing economy. I just don't like the heat wave. I still prefer rainy season.
The Philippines will see faster growth once their skilled workers can make high enough wages to keep them at home. Currently, some Filipino workers are contributing more to Europeans economies than they are to the Philippines. There are college educated Filipinos and Filipinas working at low skill jobs in Europe because these jobs pay more than professional positions in the Philippines. Once the best and brightest work in their home country growth will be amazing.
What the video doesn't tell you was that the Philippines' debt grew from 4.7 trillion USD in 2010 to 13.4 trillion USD in 2022. Almost triple in 12 years. Of course growing economies incur more debt but, you can see how two administrations handled that 'growth' by reading below. From 2010 to 2016, the nation's debt grew from 4.7T USD to 6.1T USD. A 1.4T USD increase in 6 years under 1 administration. And that from 2016-2022, it grew from 6.1T USD to 13.4T USD. A whopping 7.3T USD in 6 years. More than doubled the debt in a single term(6 years).
It’s time that the Philippines shall commit and invest in the genuine advancement of its people and humanity through innovation and trade. We also need to manufacture our own flying cars…
Nevertheless, the infrastructure growth of the Philippines whether Roads, bridges, airports seaports, government buildings, State schools and colleges, and most of all Government-run hospitals have improved Drastically under the Duterte administration, which has never been done by 4 previous presidents. Despite the sluggish global economy, the Philippines still managed 6% growth during that period. And above all, the Philippines does not appear nor feel as 3rd world as it used to be. A lot of things have really improved. Hence, I couldn't help but hate the previous presidents. They had Not dare clean up's Metro Manila's roads, river systems nor have improved Manila Bay. The Philippines still needs to improve. But things have gotten better.
IloIlo is another example. Probably the cleanest modern city in PH. Their infrastructure is impressive. This will be the model for other cities to follow now. Cebu voters are going to ask why their city can't do that same thing.
Our billionaires lobe to build mall and shopping amenities that makes us consumerism mindset instead of crwating a lot of export products so we can be a manufacturing hib.
to be fair our country is better as service sector focus industry and besides most developed economy do transition to service sector. first from agriculture, to industry manufacturing, and then service sector. if you check Europe they are like this. Philippines seems to skip towards service sector. what we actually need is to focus more in education. cutting down the bureaucracy/red tape in the country so people good setup shop. The only manufacturing with should focus on is semiconductors since we already have a market share. Competing in automotives and other manufacturing is expensive and has a lot of competition. China could produce more cheaper cars, solar panels, phone... we can't beat them. Malaysia, Singapore, Vietnam is also a strong competitor. However, in service sector export of service Philippines is far better compare to other ASEAN because Filipinos are better in English. We could focus on IT(Software development), AI and business consulting. As the other nations would be needing our expertise. Its like how the westerners use the Philippines as a partner in tech.
Then u have to find opportunities. Jobs are everywhere. I have known people who were coming from very poor families, and now? They are very rich! Opportunities in the Philippines are everywhere. 1 of 6 Pinoys are tamad. Tamad talaga ang ubang Pinoy. Ayaw din mag hanap ng ibang work or work in other industries. Madami actually. Kahit sa Mindanao nga marami na.
This is why its important to consider the job market when picking a career. IT is the best job in the Philippines right now. High demand so competition are less compare to other jobs. Plus high wage and benefits. Even some students do work on IT-BPO sector. It's a good career since you are bringing dollars to the country because you be working for foreign clients.
While Japan and China and Taiwan and Hong Kong all grew on the back of American and European investment the ONLY English speaking Christian nation failed repeatedly over the last 5 decades.
For behold, the darkness shall cover the earth and gross darkness the people; but the LORD shall arise upon thee, and His glory shall be seen upon thee, Philippines.
The economic performance of the current President was the result of the efforts done by the last President’s economic policies. This was shown during the time of President Noynoy Aquino wherein he reaps the efforts done by PGMA. The reasons why President Duterte struggled was due to the effects of Covid 19 pandemic. The Build Build Build Programs he started in 2016 and now being continued by PBBM would bear fruits by 2028 and beyond including the economic policies now being implemented by PBBM. Therefore, the next 2 Presidents in 2028- 2034 would be the ones to reap all the rewards for all the efforts done by the last 4 Presidents! By 2040, the last 6 Presidents deserved all the credits for what they have done for the Philippines future generations to enjoy by then as shown by the world economic indicators by year 2040…. wherein the Philippines would be ranked as no. 15 in the world!!!
I just wish that infrastructure spending was not left out on the drive to push GDP up. The result was there was a lot of people on the streets but the traffic got worse, making those same people unproductive, leading to huge losses in businesses. It's only now we are seeing a lot of railways and highways materializing. But a bright future is ahead!
Not by PNoy Aquino but it all satrted with a strong republic program of President Gloria Macapagal-Arroyo. She started economic reforms rhru VAT and other programs which in effect improves the economy of Philippines. It was PGMA who planted the seed and started bearing fruits when PNoy took into office.
But If you notice the Philippines during the pandemic has a sharpest decline -9.5% compared to the rest of the world, what ever his reason but still mismanaged.
Jusko talaga bah bat di namin nararamdaman... Bat lalong pahirap ng pahirap ang buhay ei sobrang sipag naman namin magtrabaho... Mga mayaman lang ang lalong yumayaman... Ei paano naman kaming mga nasa lay-layan pahirap ng pahirap jusko pamahal ng pamahal ang mga bilihin pero di tumataas ang sweldo my gosh isanglibo mo ngayon halos walang mabili sa sobrang mahal ng mga tinda sa palengke...
One thing I see in my home town are the large estates that have no clear inheritor and thus just lie abandoned, not generating income or even being occupied, this needs to be cleaned up.
I would love to see a push into safe and powerful nuclear technology that ls return on investment makes life better and cheaper. Followed by better public transportation with trains through the whole country as safe from typhoons allowing people to move back and forth or go further distances to work and less areas of condensed population. People need to spread out. Then a very hard push for world class higher level education. The work force once made needs to educate those growing up. Push towards a way for Ph to start creating products. Not just be consumers. The position of Philippines is so good to be a stop for ships and planes before going into other Asian countries. Literally the best position in all of Asia.
I'm starting to realize this Filipino owned channel is a tad biased. I am a bit worried about the direction of the Philippines. Highly vulnerable position. Consumer debt financed consumption growth, current account deficits that import consumption goods instead of machinery and technology for developing domestic markets. They don't have a favorable IIP and the trends are for continued stagnating. Build, build, build, hopefully the externally financed infrastructure projects can actually get increased productivity. Otherwise, it doesn't look good. Poor governance, poor management, and lackluster economic planning at best. Vietnam is without a doubt going to be the clear winner in ASEAN. Followed by Indonesia, but at a slower pace. Thailand would be considered attractive if the public were ever able to get their hands on the king, but that will never happen so it's continued unimpressive growth there.
Well, Indonesia, Thailand and Vietnam are the most attractive to foreigners when it comes to tourism in SEA. That says a lot. Boracay is overly romanticized by Filipinos themselves.
@@U_KCuF Not at all. I root for the Philippines to do well. Would you prefer a populace to be blind and ignorantly optimistic or intelligent, critical and demanding of better governance? Because those two extremes and all situations in between are occurring concurrently all over the world today. Take a guess on which extreme has a better overall quality of life for its population. As for me, as a member of the planet, I'd prefer that our 8 billion population has a greater leaning towards intelligence and demands for better governance. Bad things happen when a greater percentage of the population is blindly ignorant and persuaded to believe anything. So no, I'm not always 'nega' to the Philippines. lolz...
I'm Filipino, and I can definitely tell you that this particular channel is biased. So yeah, you're right. The funny thing is that the Philippines has the MOST potential to grow into a first-world country (faster than most ASEAN countries). Blame it on the government. And blame it on the majority of gullible Filipinos. So yeah, the Philippines deserve to be poor.
Massive, there are lotsa pilipinos that are parennial poor since gov’t could not alliviate the frequent floodings that make harder and harder to start all over. That’s the true story of the Philippine economy.
nyeeta. yong policy ni gloria ang nag paangat ng ekonomiya ng pinas. ang credit lng pinoy, tinuloy nya yong magandang economic policies ni gloria. estudyante lng nya sa economics si Pnoy, si Gloria ang maestra.
Build factories that pay good wages. Encourage intelligent family planning. Speed up infrastructure development by reducing red tape. Create and enforce traffic laws. Motivate the people to clean up the environment in which they live.
What do you think about the Philippine economy? Let us know down bellow!
It will require a new industrial transformation with (1) industrial processing and (2) military-industrial contracting
Overproud pinoy😢@Booz2010
@@simosapuak8772 Don't generalize all people.
so many pnp maid in oversea, what so mirscle. many philipinas raped by americsn & left msny illicite childs.
american encrouched several decades in PNP also left rmany illegitimate childs in PNP. Also Phillipinas are raped. illegitimate.childs still on the rise. what is tn original native country name, pnp is a colonied name , must restated original country name.
so many pnp maids eorking oversea . what so miricle.
Im Filipino living in the US for 30 years upon arriving back to the Philippines i felt & saw big improvement before i left my country 30 years ago
Growth is nothing if it continues to be only enjoyed by the oligarchs and does not trickle down to the common Filipinos.
It does as evidenced by the growing middle class. The tax bureau reported increase in tax collections from Filipinos who are engaged in small to medium businesses, professionals, private employees and government officials. High income Pinoys are increasing.... tax returns don't lie.
Well, the rich or tycoons definitely earn more in billions but to say that it does not trickle down is outright false.
@@ronnienestor Tell that to the hundreds of Filipinos living impoverished lives. Their stomachs never lie.
@@ryangamboa9814 Of course, poverty remains a problem in the country. Did I say that there are no poor PInoys? Get real.
@@ryangamboa9814 The video is about GDP growth. Our entry to Upper Middle Income category is going to happen in 2025. GNI per capita performances of the country in 2022 and 2023 were above 10%. In 2024, it's gong to be a blast, too.
The Philippine 🇵🇭 economy has consistently been doing very well under different Philippine administrations because it has built a strong consumer economy where the national earnings from its key core economic drivers of overseas Filipino remittances, business process outsourcing and tourism and other service industries have been plowed back and generating further economic activities.
Huge infrastructure spending under the Build, Build, Build and the Build Better More programs have given tremendous boost to our economy in the form of better roads, massive new superhighways, an emerging mega-airport in the province of Bulacan and a sprawling new subway system in the National Capital Region of Mega Manila.
To diversify our economy even more, the Philippines needs to develop its Manufacturing potential, its Agri-Business potential, as well as its Mining industry where much of its national endowments lie.
The Philippines’ traditionally strong position in the global business process outsourcing eco-system need to be further strengthened to incorporate the new features of artificial intelligence (A.I.) to make it more competitive.
The combination of all these may propel the Philippine Economic Growth to 10% annually and drastically cutting down our poverty numbers.
Need investment in the energy power sector before the manufacturing can be boosted and attract investors.
@@Janet1001-X we don't want more manufacturing. Philippines is not suited for manufacturing. We should focus more on light industries and high tech products Tourism & BPOs. If we have so many heavy industries, Philippines will become very polluted.
@@srebaayao9616NUCLEAR energy is the most reliable, the cheapest and the cleanest energy on the planet, so there's no excuse for not having a manufacturing industry in the Philippines.
Yes, I believe it is on the surge. It just needs to stay the course and harness its resources, (especially human resources) and put them to good use.
Wow naman 10%
Impressive presentation. I felt like I was in my Economics class.
God bless the Philippines
💪🇵🇭
6-7% growth is still impressive
Supporting local products, farms, businesses should be encouraged more. Nowadays, even in music industry we are becoming more open to embracing our own which is a great improvement to see.
As an Australian involved in capital raising and business advisory in the Philippines, im constantly amazed at the velocity.
BPO's and OFW's helped a lot to Phil economy..
Wait till the AI eat away at the BPOs (it is inevitable)! 😆😆😆
POGO ALSO HAHAHA
@@mrconfusion87AI would never replace humans, you'll know that better if you had taken an actual call where those folks are infuriated if they encountered bots.
There are indeed extremely wealthy Filipinos, with some being multi-millionaires, but on the other hand, there is also a significant portion of the population living in extreme poverty. This should serve as a challenge for the Philippine government to narrow the gap between the rich and the poor.
Since 1986, it grew drastically due to the Remittances of OFWs, BRUNEIYUKI and Japayuki then BPO and call centers came that floods The Philippines with foreign currencies such as dollars, liras, yen, euros, british pounds. Thus, there was overcrowding of establishments, businesses and developments everywhere in The Philippines.
This is a good summary of the modern ph economy. Love the content
Go go Philippines bilisan niyo pa Pinoys. No one be left behind yeah😂
We need to further open up more industries to 100% foreign equity ownership like what we do to the BPO industry like natural resource extraction, agriculture, forestry, real estate, SMEs, mass media, publishing, advertising, and education.
Additionally in technology and construction
so long as they don't own land. Can't have foreign companies buying swaths of land and renting them out to our own people
I do like the idea but the CCP might slip to some cracks. They have 40% share in the NGCP.
@@waynegrant4070 It has to be because foreigners without legal ownership rights cannot get mortgage loans from commercial banks without presenting documentary proof of ownership like land title certificates as collateral. Allowing them to become legal landowners will end the practice of old foreign retirees marrying innocent Filipino women who are 40 years junior and putting the latter's name in the land title and land sale certificates.
Not the natural resources extraction. Learn the history of American 100% Parity Rights in the Philippines. They exploited the natural resources and left nothing to Filipinos!
Lots of things have changed. Before we don't know where we will find our next meal. My younger brother haven't eaten and he is only silent in a corner. My youngest sister is crying saying her stomach is aching. My father was dying of tuberculosis while my mother was staring nowhere because of hardships. Because of sheer determination and hardwork one by one they are now graduating in college, and the other one owns her own company. Our government may be corrupt and inefficient but the Filipino people are very hardworking and far-reaching if work as a team.
So proud of you kabayan.
@@apriljoshbelliones8743 salamat po. Hirap po ng buhay noon grabe.
Very positive thinking.
@@KawiJunoJasper thank you
Upskill! Either u are lazy and spends time on facebook. There are so may opportunities for pinoys, u just have to learn to upskill
Great analysis, relocating there after summer and this looks very promising!
I already see the bright future of the Philippines
Thanks for this detailed information. I hope this inspires Filipinos to work harder despite of ongoing corruption here in the country.❤
It is time that Philippines needs to restore the monetary value! for what we the news the mission of Pres Aquino is pay some of the debts of the Philippines
pH is a consumer based economy...meaning local people spend more money
Davao city 47k up business permit
Mas vmabilis ang economy sa mga ukay2 kaysa mga luxury item...
Nope the PH is a service based economy
Shopping mall economy
If they have the money to spend.
7 years from now we have the Subways, more highways, Mrt’s, Lrt’s, Bridges, International Airports, ports, new Global cities by the Bay Area & Clark & many more
The filipino worker or small online entrepreneurs will always find new creative ways to make money. But once you need to build a huge industrial plant hiring hundreds of laborers then corrupt and greedy politicians and errant government employees will take a bite and demand bribe money which will lead to the demise of the project. Intel Corporation, which operated for 35 years in the country, Hanjin (12 years) and Shell/Chevron (21 years). Then, as now, these companies closed their Philippine operations and left thousands of unemployed workers.
now that is sad
Comprehensive business analysis. Good to know the Phil’s is growing 👍👍😉
The government and private sectors need to create more industries so people can work. Industries like mining, oil and gas, robotics, transportation (vehicle assembly), electronics (components or assembly).
Also AI, we do have a good IT-BPO sector so the transition wouldn't be that hard. Plus, we already have reputation working for foreign clients developing their software and customer service.
You cant create these industries without enough education and training. DepEd, CHED (w/ TESDA) are very important to deliver. We need this kind of workforce that is knowledgeable and well trained
That's why current admin of PBBM is prioritizing STEM
tumigil ka nga. sisirain lng ng heavy industries ang pilipinas. Philippines is too beautiful to become polluted. concentrate na lang tau sa tourism, bpo, light industries and high tech products. mining? puro na butas ang pilipinas. kalkal dito kalkal duon.
@@NewB2025 We do have workforces, they just don't have jobs here to practice their profession that is why our technical people - our engineers and high skilled individuals are applying work abroad. If we have a place for them, they should have stayed and helped propel our economy.
Im not amazed of the philippine growth. But by the editing skill of this video
Alot of smear campaigns but as long as filipinos continue buying filipino made product where 👌
It’s so easy to point fingers when things go wrong about economy specially if you don’t exactly understand how economics works.
Wow congrats Philippines. Mabuhay.
@$€£¥☆☆☆☆☆@$€£¥❤❤❤❤❤❤@$€£¥ 0:46
@$€£¥☆☆☆☆☆@$€£¥❤❤❤❤❤❤@$€£¥ 1:15
Get rid the 60/40 fdi restriction. Lower power cost, build power plant. Support Manufacturing and steel factory. Attract more tech transfer for military ship building.
THANKS to the Effort’s and hard works of our Economists Pres Pnoy and Father of BPO , Sec. Mar Roxas
The 2023 Corruption Perceptions Index scored the Philippines at 34. When ranked by score, the Philippines ranked 115th among the 180 countries in the 2023 Index. For comparison with worldwide scores, the best score was 90 (ranked 1), the worst score was 11 (ranked 180), and the average score was 43.
Hopefully, a Consistent growth path is ahead of the country. 10 to 20 years worth of growth are needed. A lot of things can happen, good and bad.
I think it was during the former Philippines president Gloria Macapagal Arroyo who crafted the solid foundation of our economy today. The BPO started to grow since 2001 and the crucial increase of VAT.
It was during the administration of Arroyo were slow growth of GDP posted. And rampant of corruption just for facts.
True. Her economics background benefited the Philippines
you should thank mar roxas about BPO growth
It was Pnoy actually. She ruled for 9 LONG YEARS with so little improvement.
@@millennialinmanila5621 we are talking about GMA economic foundation
The real problem of philippines is we intend to vote for people who is more famous rather than people who is more deserving thats why theres so many ex- artist celebrities now are politicians...example is on our last election no1. who has votes in senator is an celebrity than dont even know politics and he said before he dont even want to be a politician before...so many filipino who are not voting for the right person then blame the governtment for curruptions..😢😢when its there own fault for voting them..
sure but the video is about other factors affecting economy other than politics.
The video already shows the economy comparison, factors and data analytics, but you still want to focus on the political side.
Voters should be made to take a test to see if they know basic things about current events, the economy, major political issues and the West Philippine Sea. Twenty basic question should be asked and a score of 15 out of 20 should be the passing grade.
Deserving like what? Both of those thing don't really account competence
@@jajasariaI think they're doing this obsession to sell some political agenda that they have
With no goverment theft philippines will very rich country
Brilliantly explained. This is exactly what I learned in (Econ) Economics back in college.
Filipinos are consumer driven economy.. We love shopping.. specially those who have credit cards.. Lol
setting up business here can actually be profitable. However, the problem is too much bureaucracy, too much permits to be approved, red tape. our government should address the ease of doing business in the Philippines plus relaxation of foreign ownership restriction so more capital could flow to the country.
Damned, i planned to marry a pinay. Should investigate her CC then.
The Philippines have the 2nd lowest ratio in terms of users of credit cards among the Top 6 economies in the ASEAN.
The money comes from remittances and BPO employees and those employed in the public sector.
@Booz2010 Then?
Household debt of Filipinos is low compared to Thailand, Malaysia and Singapore.
Just imagine if more Filipinos will have access to credit or bank finances, our GDP will really explode big.
The economy is growing, but not for the poor or middle class. I live in cebu city for 7 years, visiting for 30 years. There is no trickle down economy here, everything stays up top. I have many many filipino friends, most of them work at call centers or restaurants. Their pay rarely if ever increases, they make around $1 an hour at restaurants. Many work at western style restaurants, and they work long hours and get only around 400 to 450 pesos a day. No benefits, and most have travel an hour or so to get to work. It is really sad, and some of the restaurants are run or owned by foreigners. They charge western prices for their food almost,,,,How would u like to work for $8 a day? Also, most of them get laid off eventually, they have to sign a contract or job review for each year. You can be let go for any reason
wow! bravo kaya pala mahal ang bilihin sa pilipinas
Compared to Vietnam (now gearing up to take Zhenshen and Guangdong as the low-cost "everything" manufacturing hub) and Indonesia as tourism & mineral-based (e.g. oil & gas) exports, the Philippines is mostly a local/domestic-focused manufacturing & service economy - albeit with minor exports to expats abroad. The Philippines exports more talent than products, IMHO. That of OFWs, expats & Balikbayans, and outsourcing services. Growing those niches are not like those of Vietnam's or Indonesia's. They are nice niches but don't expect fast riches!!
Still, the Philippines should be able to keep the 5-9% GDP growth rate as the overall size of the economy is not that big (yet) in the sub-500B annually. I will keep my fingers crossed for BBM to succeed, though. The Philippines deserves better.
Philippines is a fast developing country on track to become 1st world country with many many BIG Infra projects are ongoing construction in Metro Manila including the ambitious multi - USBillion Dollar Hi - Speed Subway Train that is Philippines massive progress, Philippines economy is truly booming,Mabuhay Philippines!
One obstacle to the Philippine economic growth is COST…expensive utilities, logistics, labor…even opening up the economy will not attract investment when they can’t make money…government is addressing this by building more infrastructure, renewable energies and modernising agriculture which is one of the major driver of inflation…but not fast enough to implement due to bureaucracy and politics..
Your content is miraculous.
american encrouched several decades in PNP also left rmany illegitimate childs in PNP. Also Phillipinas are raped. illegitimate.childs still on the rise. what is tn original native country name, pnp is a colonied name , must restated original country name.
so many pnp maids working oversea . what so miricle.
Chinese bot.
in the future of working as an architect and i think i would make a huge change the leyte
Consistent 5 to 7% is achievable but as the video points out, there are external factors that beyond the control of the economic managers.
love the way you explain the data vs political.
How do u think we can fix our gdp per capita?
Prosperous Philippine Economy - PPE!
Corruption: 🗿
Pollution: 🗿
Political Dynasties: 🗿
Bad governance: 🗿
Poverty: 🗿
The tax bureau reported that 2023 collections exceeded the target. This year 2024, they also reported record high of tax collections. It bodes well for the growing economy.
I just don't like the heat wave. I still prefer rainy season.
tax collection thru extortion of businesses. sooner or later it will show
True
yup Philippines is growing! just be patient! you can bet on Philippines if you a have a lot of time to wait!!!
OFWs, BPOs are the modern heroes of the Philippine economy.
The Philippines will see faster growth once their skilled workers can make high enough wages to keep them at home. Currently, some Filipino workers are contributing more to Europeans economies than they are to the Philippines. There are college educated Filipinos and Filipinas working at low skill jobs in Europe because these jobs pay more than professional positions in the Philippines. Once the best and brightest work in their home country growth will be amazing.
What the video doesn't tell you was that the Philippines' debt grew from 4.7 trillion USD in 2010 to 13.4 trillion USD in 2022. Almost triple in 12 years. Of course growing economies incur more debt but, you can see how two administrations handled that 'growth' by reading below.
From 2010 to 2016, the nation's debt grew from 4.7T USD to 6.1T USD. A 1.4T USD increase in 6 years under 1 administration.
And that from 2016-2022, it grew from 6.1T USD to 13.4T USD. A whopping 7.3T USD in 6 years. More than doubled the debt in a single term(6 years).
Not USD but in pesos don't be stupid😂
You can thank the build build build for that. Would be great if we can benefit from those projects in the future.
God bless Philippines!
I am from India.love for Philippine brother & sister
Yeah ,Philippines is lucrative 5/6 business that suited you!
The Philippine is Cominggggg Mabuhay ang Pilipinas….❤❤❤❤🎉🎉🎉🎉🎉🎉🎉🎉
Ga 6: 7---itinanim, aanihin.
It’s time that the Philippines shall commit and invest in the genuine advancement of its people and humanity through innovation and trade. We also need to manufacture our own flying cars…
Nevertheless, the infrastructure growth of the Philippines whether Roads, bridges, airports seaports, government buildings, State schools and colleges, and most of all Government-run hospitals have improved Drastically under the Duterte administration, which has never been done by 4 previous presidents.
Despite the sluggish global economy, the Philippines still managed 6% growth during that period.
And above all, the Philippines does not appear nor feel as 3rd world as it used to be.
A lot of things have really improved.
Hence, I couldn't help but hate the previous presidents. They had Not dare clean up's Metro Manila's roads, river systems nor have improved Manila Bay.
The Philippines still needs to improve. But things have gotten better.
IloIlo is another example. Probably the cleanest modern city in PH. Their infrastructure is impressive. This will be the model for other cities to follow now. Cebu voters are going to ask why their city can't do that same thing.
@@yaimavol Yeah, I must agree. Local politics in Cebu are close to being useless.
Yeah.iloilo city is beautiful and clean now look like european cities
@@yaimavol thought makati is most modern because of BGC
@@yaimavolagree ako dyan.
Our billionaires lobe to build mall and shopping amenities that makes us consumerism mindset instead of crwating a lot of export products so we can be a manufacturing hib.
Manufacture here? its hard to look for capital plus electricity and logistics here in the Philippines is dire hard expensive.
to be fair our country is better as service sector focus industry and besides most developed economy do transition to service sector. first from agriculture, to industry manufacturing, and then service sector. if you check Europe they are like this. Philippines seems to skip towards service sector. what we actually need is to focus more in education. cutting down the bureaucracy/red tape in the country so people good setup shop. The only manufacturing with should focus on is semiconductors since we already have a market share. Competing in automotives and other manufacturing is expensive and has a lot of competition. China could produce more cheaper cars, solar panels, phone... we can't beat them. Malaysia, Singapore, Vietnam is also a strong competitor. However, in service sector export of service Philippines is far better compare to other ASEAN because Filipinos are better in English. We could focus on IT(Software development), AI and business consulting. As the other nations would be needing our expertise. Its like how the westerners use the Philippines as a partner in tech.
Traditional pinoy entrep. Madalas tindahan ang negosyo hindi pagawaan.
That same billionaire also started his empire through retail, so I don't know what you're on about.
@KSmifune wow I learned something po
Impressive. Make all pilipino people happy..Please include flood control . Have mercy.. Mabuhay philippines..
I don't see the miracle results affecting our family's lives positively...
aww poor You
Then u have to find opportunities. Jobs are everywhere.
I have known people who were coming from very poor families, and now? They are very rich!
Opportunities in the Philippines are everywhere.
1 of 6 Pinoys are tamad. Tamad talaga ang ubang Pinoy.
Ayaw din mag hanap ng ibang work or work in other industries.
Madami actually. Kahit sa Mindanao nga marami na.
Pessimist.
This is why its important to consider the job market when picking a career. IT is the best job in the Philippines right now. High demand so competition are less compare to other jobs. Plus high wage and benefits. Even some students do work on IT-BPO sector. It's a good career since you are bringing dollars to the country because you be working for foreign clients.
Consider the needs of everyone
PH will be one of nations best situated to endure and prosper through the upcoming global economic reset
wow, sana magpapatuloy ito....
❤philipines
While Japan and China and Taiwan and Hong Kong all grew on the back of American and European investment the ONLY English speaking Christian nation failed repeatedly over the last 5 decades.
Inflation is growing at a faster rate. Wages are still minimal.
For behold, the darkness shall cover the earth and gross darkness the people; but the LORD shall arise upon thee, and His glory shall be seen upon thee, Philippines.
The economic performance of the current President was the result of the efforts done by the last President’s economic policies. This was shown during the time of President Noynoy Aquino wherein he reaps the efforts done by PGMA. The reasons why President Duterte struggled was due to the effects of Covid 19 pandemic. The Build Build Build Programs he started in 2016 and now being continued by PBBM would bear fruits by 2028 and beyond including the economic policies now being implemented by PBBM. Therefore, the next 2 Presidents in 2028- 2034 would be the ones to reap all the rewards for all the efforts done by the last 4 Presidents! By 2040, the last 6 Presidents deserved all the credits for what they have done for the Philippines future generations to enjoy by then as shown by the world economic indicators by year 2040…. wherein the Philippines would be ranked as no. 15 in the world!!!
Growing yet 40% of Manila are slums. Growing in my eyes is if the slums population goes down to 30%, then 20%, then 10%. That's true growth.
Grow up Philippines territory Amen ❤️ 🙏
It is stated in 2001 by Former Gloria Macapagal Arroyo yes we can say She is Corrupt but we can't deny that she is a Very Good Economy President...
Nope! Gloria left trillions of debt in the Philippines. It was Aquino who catapulted Philippines again to become a rising tiger
She is so corrupt she destroyed the economy favouring her husband’s business. Only those praising her benefited from her corruption
If only Tagalogs would stop voting for actors...
Yes let's continue supporting corrupt politicians
@@FeydHarkon666visayans not tagalogs
Yasss! ❤
I just wish that infrastructure spending was not left out on the drive to push GDP up. The result was there was a lot of people on the streets but the traffic got worse, making those same people unproductive, leading to huge losses in businesses. It's only now we are seeing a lot of railways and highways materializing. But a bright future is ahead!
Only our Mayor, Congressman, Governor, Senator, V pres, President got rich..
motherhood statement. given na iyan. madami din nman yumaman di politiko. nasa iyo na iyan. kasalanan mo di ng gobyerno.
Bangladesh 🇧🇩 wants to trade and do business with Philippines. Bangladesh 🇧🇩 also wants Philippines to invest in Bangladesh 🇧🇩
Not by PNoy Aquino but it all satrted with a strong republic program of President Gloria Macapagal-Arroyo. She started economic reforms rhru VAT and other programs which in effect improves the economy of Philippines. It was PGMA who planted the seed and started bearing fruits when PNoy took into office.
then duterte came to power which made the ph economy even much worst
But If you notice the Philippines during the pandemic has a sharpest decline -9.5% compared to the rest of the world, what ever his reason but still mismanaged.
Jusko talaga bah bat di namin nararamdaman...
Bat lalong pahirap ng pahirap ang buhay ei sobrang sipag naman namin magtrabaho...
Mga mayaman lang ang lalong yumayaman...
Ei paano naman kaming mga nasa lay-layan pahirap ng pahirap jusko pamahal ng pamahal ang mga bilihin pero di tumataas ang sweldo my gosh isanglibo mo ngayon halos walang mabili sa sobrang mahal ng mga tinda sa palengke...
its on track to grow 6.2% this year
Growth for the oligarchs.
Thank u Pnoy... The best talaga si pnoy...
Maybe because Philippine is finally have a good President. The economy of the country depends what kind of administration they have.
Good? Since when
Been living here for decades and still waiting for the surge. The stock exchange hasn’t grown for years.
True. PSE has been flat for 5 years
One thing I see in my home town are the large estates that have no clear inheritor and thus just lie abandoned, not generating income or even being occupied, this needs to be cleaned up.
I would love to see a push into safe and powerful nuclear technology that ls return on investment makes life better and cheaper. Followed by better public transportation with trains through the whole country as safe from typhoons allowing people to move back and forth or go further distances to work and less areas of condensed population. People need to spread out. Then a very hard push for world class higher level education. The work force once made needs to educate those growing up. Push towards a way for Ph to start creating products. Not just be consumers. The position of Philippines is so good to be a stop for ships and planes before going into other Asian countries. Literally the best position in all of Asia.
I'm starting to realize this Filipino owned channel is a tad biased. I am a bit worried about the direction of the Philippines. Highly vulnerable position. Consumer debt financed consumption growth, current account deficits that import consumption goods instead of machinery and technology for developing domestic markets. They don't have a favorable IIP and the trends are for continued stagnating. Build, build, build, hopefully the externally financed infrastructure projects can actually get increased productivity. Otherwise, it doesn't look good. Poor governance, poor management, and lackluster economic planning at best. Vietnam is without a doubt going to be the clear winner in ASEAN. Followed by Indonesia, but at a slower pace. Thailand would be considered attractive if the public were ever able to get their hands on the king, but that will never happen so it's continued unimpressive growth there.
Oh gosh! Finally there is a woke one on this channel
Ahaha another jealous, bitter and always nega to Philippines.. 😂
Well, Indonesia, Thailand and Vietnam are the most attractive to foreigners when it comes to tourism in SEA. That says a lot.
Boracay is overly romanticized by Filipinos themselves.
@@U_KCuF Not at all. I root for the Philippines to do well. Would you prefer a populace to be blind and ignorantly optimistic or intelligent, critical and demanding of better governance? Because those two extremes and all situations in between are occurring concurrently all over the world today. Take a guess on which extreme has a better overall quality of life for its population. As for me, as a member of the planet, I'd prefer that our 8 billion population has a greater leaning towards intelligence and demands for better governance. Bad things happen when a greater percentage of the population is blindly ignorant and persuaded to believe anything. So no, I'm not always 'nega' to the Philippines. lolz...
I'm Filipino, and I can definitely tell you that this particular channel is biased. So yeah, you're right. The funny thing is that the Philippines has the MOST potential to grow into a first-world country (faster than most ASEAN countries). Blame it on the government. And blame it on the majority of gullible Filipinos. So yeah, the Philippines deserve to be poor.
420 will be legalize this year ; its a boost in a multi-billion dollar industry
Im proud to be a Filipino. A descendants of God fearing people.
Massive, there are lotsa pilipinos that are parennial poor since gov’t could not alliviate the frequent floodings that make harder and harder to start all over. That’s the true story of the Philippine economy.
Thanks to the PNoy administration for making the top growing economy in 2010 to 2016. I salute you PNoy.
nyeeta. yong policy ni gloria ang nag paangat ng ekonomiya ng pinas. ang credit lng pinoy, tinuloy nya yong magandang economic policies ni gloria. estudyante lng nya sa economics si Pnoy, si Gloria ang maestra.
Is there anyone who knows the timeline of the philippine integration into the global market?
What filipino need is diploma! All filipino must have Diploma to make Philippines more rich.
Philippine economy is booming so hard, the price of everything went more than tripled
Aim High Philippines
Last 5 years ago my family only rented an apartment, now we owned a house 😄🇵🇭
Same
Sources for these?
Build factories that pay good wages. Encourage intelligent family planning. Speed up infrastructure development by reducing red tape. Create and enforce traffic laws. Motivate the people to clean up the environment in which they live.
Here we go again...
Duterte's term hit a trade war plus the covid. Impeded a lot of growth. But it's still great growth
If the goddamned Pandemic did NOT happen, we would be an "Upper Middle Income Country" by now!