10 Reasons Why You Have To Do Business in the Philippines
Posted on January 29th, 2008
1. Our country has a purchasing power of more than $500 Billion which ranks 35th in the International Monetary Fund list of countries by GDP.
2. We are also the 12th most populated country in the world with near to 90 Million people and more than 60% of our total population participating in the labor force. Imagine the target consumers you’ll have.
3. Our literacy rate is more than 90% of our total population.
4.The Philippines is also the 5th World’s largest English speaking country ranking over United Kingdom with more than 300,000 graduates yearly enriching our pool of professionals.
5. Outsourced businesses from other countries are experiencing more than 30% from their actual cost in the Philippines and as compared to the United States, wages, on average are 500% more economical.
6. Electricity, housing and communication is also 50% cheaper as compared to average foreign rates.
7. We have unlimited business opportunities as Asian economies integrate within the vast framework of the ASEAN Free Trade Agreement (AFTA).
8. We have a wide array of natural resources. We are one among the top ten global producers of gold and Asia’s largest producer of copper. Don’t forget that we have more than 18000 kilometers of shoreline, 7101 islands and more than 27000 square kilometers of coral reef.
9. Our country is located within four hours flying time from the key regions of Asia We also serve as a gateway of international shipping in the Pacific that make us as a critical entry point to more than 500,000,000 people in the Asian Market.
10. Lastly, because of PinoyBusiness.ORG, Filipino Entrepreneurs maintain a positive attitude towards the path of achieving financial freedom.
i agree. here’s our company president’s account on why you shoud do your business here
http://ofwlegacy.com/dbart.htm
Yup, it’ll be an investor’s loss if they don’t do business in the Philippines. IMHO, offline and online businesses will be booming in the next 5 – 10 years here, I just hope that all laws are in par with the coming of online businesses. e-commerce is going to take a huge part in the country’s progress……
can I link this article to my blog? I think trackback is not working
I agree with you but it needs more power for anyone to invest in our country with rampant graft and corruption to establish a business there, that is why everyone are leaving Philippines for Canada and other countries.
http://www.dontworrymakemoney.info
I agree, there is a lot of potential, but many changes would need to be made for money to flow into PI for improvements.
The corrupt government officials taking %40+ percent of all money is bad because it takes twice as much money to get anything done.
Also, foreign investors can’t own land; can’t even own majority of a business. No investors want to invest somewhere they can’t maintain controlling interest in their investments.
When I move there, I’m going to need to put everything in my mother’s name (she’s dual citizen) because inheriting is the only way a US citizen can own land or a business.
Bottom line: while there are great natural resources, great scenery, and great people, until the government straightens things out and starts encouraging people to invest in the country, it will continue to struggle.
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Philippines is still a good setting for a business. Doing a business here is very easy if you have a lot of ideas that suits customer’s need.