Philippines

The Philippine economy reached a nominal GDP of $507.6 billion in 2024, achieving a 5.6% growth rate and making it the second-fastest-growing economy in ASEAN after Vietnam.

This steady performance, despite global headwinds and domestic constraints, positions the Philippines among Asia’s economic frontrunners.

The government’s commitment to infrastructure spending – targeting 5-6% of GDP annually through 2028 under the ‘Build Better More’ programme – aims to sustain economic momentum.

With a population exceeding 109 million, the Philippines is the world’s 13th most populous country. As the third-largest English-speaking nation globally, it has a highly skilled and adaptable workforce, providing a significant competitive advantage in Asia.

The Information Technology and Business Process Management (IT-BPM) industries remain key growth drivers, supported by strong demand from North America and ongoing workforce upskilling in IT support, cybersecurity, data analytics and artificial intelligence.

The Philippines also has abundant mineral resources, with substantial reserves of copper, gold and zinc, reinforcing its role in the global mining industry.

In recent years, the Philippine government has introduced structural reforms to enhance the country’s business environment. These include liberalising foreign investment in infrastructure, tourism, telecommunications and power. The country’s inclusion in the Regional Comprehensive Economic Partnership (RCEP) free trade agreement has further expanded access to international trade and investment.

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You were flexible, well prepared and supportive. We got a very good overview of the Philippine market and met the most important players – we achieved our target!

Swiss company – Building & construction sector

Leadership

Anna Demetillo

Country Manager

Anna helps international companies to expand in the Philippines.She supports clients across the technology, healthcare, energy, consumer goods and financial services sectors, facilitating partnerships and providing market intelligence.

Her deep understanding of the Philippine market enables her to help businesses navigate the country’s unique opportunities.

Anna holds a BSc in Business Administration from the University of Santo Tomas.

Southeast Asia – Semiconductors

This report provides an overview of the opportunities for overseas companies in Southeast Asia's semiconductor industry.

Read here

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