The Philippines is home to one of the fastest-growing emerging markets and is seen as one with a lot of potential. It is a newly industrialised economy and continues transitioning from a primarily agricultural base to one focused on services and manufacturing. Those looking to take advantage of a growing economy will need Philippine market entry services.

The population of the Philippines has surpassed 115 million with demographics here skewing younger. This differs from other countries in Asia, where aging societies may create issues with workforce size in the near future. The country continues to be a hub for outsourcing, and this is now a vital element of the economy.

Increasing urbanization, along with a young, expanding middle class, has seen consumer demand rise. Remittances also play a notable role in local spending power as Overseas Foreign Workers remain a pillar of the economy.

Why the Philippines?

There has been an emphasis on improving the investment climate and sustaining economic growth. These efforts have included opening new sectors of the economy to foreign investment, eliminating some restrictions on foreign ownership, and permitting complete foreign ownership of renewable energy companies.

Additionally, the business environment in the Philippines is improving while special economic zones have been set up to allow firms to avoid bureaucratic pain points. A government push to further eliminate red tape and improve the ease of doing business remains ongoing.

These are steps in the right direction, and there is hope that the country keeps making progress on improving the foreign investment climate.

Philippine market entry services from Asian Insiders

With a growing economy and government support, the Philippines is an attractive destination for investment. Asian Insiders stands ready to advise and assist in efforts to expand into this potential-ladened market. Our Philippine market entry services help you navigate the local business culture as well as thoroughly understand the differences between your home country and other regional economies.

Click here to take our Readiness Check to see if you’re ready to enter the Philippines