PHILIPPINE INVESTMENT GROWTH

Data Graph

6.20%
6.00%
5.80%

2.00%

2018 2019 2020 2021

Economy of the country

The Philippines is one of the most dynamic economies in the East Asia Pacific region. With
increasing urbanization, a growing middle class, and a large and young population, the
Philippines’ economic dynamism is rooted in strong consumer demand supported by a vibrant
labor market and robust remittances. Business activities are buoyant with notable performance in
the services sector including business process outsourcing, real estate, tourism, and finance and
insurance industries.
Real economic growth, however, has been challenged by the COVID-19 (coronavirus) pandemic
and the strict community quarantine measures imposed in the country.  Growth contracted
significantly in 2020, driven by significant declines in consumption and investment growth, and
exacerbated by the sharp slowdown in exports, tourism, and remittances. Economic growth is
expected to rebound gradually in 2021-2022 assuming a containment of the virus domestically
and globally, and with more robust domestic activity bolstered by greater consumer and business
confidence and the public investment momentum.
In recent years and until the onset of the COVID-19 crisis, the Philippine economy has made
progress in delivering inclusive growth, evidenced by a decline in poverty rates and its Gini
coefficient. Poverty declined from 23.3% in 2015 to 16.6% in 2018 while the Gini coefficient
declined from 44.9 to 42.7 over the same period. This increasing trend in real wages, which is
expected to have a positive impact on household incomes—particularly those from the lower
income groups—has been hampered by the impact of the COVID-19, with negative
consequences also for poverty reduction in the Philippines. Resuming growth can hope to reverse
this negative impact again.
https://www.worldbank.org/en/country/philippines/overview#1
Business Growth of the country
The Philippines continues to be a vital place to do business in the world and is recognized as one
of Asia's leading economies and fastest-growing emerging markets.
"With the current health crisis affecting the world economy, we have acted swiftly with a range
of incentives and measures to maintain ease of doing business and mitigate the impact of Covid-
19 for businesses. A 'roll-up-your-sleeves' and 'make-it-work' mindset, as well as a service-
orientated business ethic position the Philippines well for the future," Minister Lopez said.
Meanwhile, the UK Government's Ambassador to the Philippines Daniel Pruce stated: "The
Philippines is an important economic partner for the UK. The launch of the Philippines' first
sustained multi-sector and multi-market brand is designed to drive FDI inflows and reinforces
the significance of international partnership and cooperation in helping economies to grow and
people to thrive.
"This iconic new investment brand highlights that the Philippines is a great place to do business,"
Ambassador Pruce said. "The UK Government is delighted to be working with BOI on this
campaign as it demonstrates the close economic relationship between the UK and the
Philippines," the British diplomat added.
Major foreign investors have also shared their insights and experiences in doing business in the
Philippines, highlighting how the government's support and trademark "Make It Happen"
Filipino mindset have made their successes possible, even amidst an unprecedented pandemic.
The campaign was tested in international markets, resonating positively among investors in
China, the US, and the UK. The new investment brand is poised to become the Philippines'
primary strategy to attract FDI inflows.
The brand campaign was formally unveiled today at a virtual event for the international business
community hosted by Philippine Trade Minister Lopez, BOI Managing Head Ceferino Rodolfo,
and British Ambassador to the Philippines Daniel Pruce.
https://www.prnewswire.com/in/news-releases/philippines-launches-new-international-
investment-promotion-brand-highlighting-its-make-it-work-potential