Doing business in the Philippines: Seizing opportunities | Deloitte Philippines | Articles, perspectives, insights has been added to your bookmarks.
Doing business in the Philippines
Driving growth for success
We are committed to helping our clients and our people excel. Known as an employer of choice for innovative human resources programs, the firm draws strength from cultural diversity. We welcome new ideas and different perspectives, while developing an environment that enables us to achieve common goals and unity. We lead by example. We lead through innovation.
Based on the latest OECD Economic Outlook for Southeast Asia, the Philippine economy is expected to grow by 6.2% every year between 2015 and 20195, the highest among the five largest economies in the region6. The Economist is forecasting a higher year-on-year real GDP growth rate for the Philippines at 6.6% by end-2015, also the highest among the six Southeast Asian nations7 it is keeping tabs on. The Asian Development Bank (ADB) also forecasts the Philippines to have the highest year-on-year GDP growth rate, at 6.4%, among the same cohort of countries.
The strong performance of the Philippine economy is largely driven by the industry and services group, with construction; manufacturing; financial intermediation; real estate, renting, and business activity; and other services as the primary growth drivers. On the demand side, increased household and government spending, together with an upsurge in capital formation, contributed to the economy’s solid showing.