The Philippines has several economic strengths that may contribute to greater

integration among the countries in the Asian region. These strengths include a highly

skilled and educated workforce and growing tourism with the ease of the pandemic.

The highly educated and skilled workforce in the Philippines is one of its

economic advantages. According to Country Meters, 70,679,148 persons, or 96.29% of

the adult population (aged 15 years and above) in the Philippines, can read and write.

Accordingly, about 2,724,396 adults are illiterate. This highly skilled workforce

represents a valuable resource. The BPO companies and the rising Virtual Assistance

sectors in the Philippines are expanding and offering services worldwide, including

customer support, data entry, and accounting to companies around the world. Other

wealthy nations, like Japan and Korea, have made significant investments in this sector,

opening up possibilities for economic cooperation.

Another economic strength of the Philippines is its growing tourism industry. The

Philippines is an attractive destination for tourists, with a rich culture, beautiful natural

landscapes, and increasing tourist attractions and amenities. In 2020, the Philippines

welcomed 4.8 million international visitors, a 10.4% increase from the previous year

(Department of Tourism, 2021). This growing tourism industry provides opportunities for

economic growth and development in the Philippines, and it also provides opportunities

for other countries in the region to participate in the tourism value chain. For example,

the Philippines imports significant goods and services from other countries in the area,

such as China, Japan, and South Korea, to support its tourism industry. It provides

opportunities for these countries to expand their exports to the Philippines and increase

their economic integration.

 In conclusion, the Philippines possesses several economic advantages that

might help the Asian region's nations integrate more fully. These advantages include a

workforce that is highly educated and talented, as well as a developing tourism sector.

By capitalizing on these advantages, the Philippines can help the region's nations

integrate economically, opening up prospects for everyone engaged in economic growth

and development.
References:

Macro Trends. (2022). Philippines Literacy Rate 1980 – 2022. Retrieved December 19,

2022, from https://www.macrotrends.net/countries/PHL/philippines/literacy-rate

Philstar. (2022). Tourism sector contributed to Philippines’ 4th fastest growing economy

rank in 2021. Retrieved December 19, 2022, from

https://www.philstar.com/business/2022/04/21/2175615/tourism-sector-contributed-

philippines-4th-fastest-growing-economy-rank-2021-report

Reogma. (2017). Travel and Tourism Industry in the Philippines. Retrieved December

19, 2022, from https://www.reogma.com/expert-views/travel-and-tourism-industry-in-

philippines/