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Philippines Expanding Industries

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Philippines Expanding Industries

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  • April 19, 2013
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The Economy of the Philippines is the 43rd largest in the world, according to 2011 World Bank statistics and it is also one of the emerging markets in the world. According to the CIA Factbook, the estimated 2011 GDP (purchasing power parity) was 391.1 billion. Goldman Sachs estimates that by the year 2050, it will be the 14th largest economy in the world, and Goldman Sachs also included the Philippines in its list of the Next Eleven economies. HSBC projects the Philippine economy to become the 16th largest economy in the world, 5th largest economy in Asia and the largest economy in the South East Asian region by 2050. These figures & information are as reported by the agencies/bodies mentioned quoted from a report by CNN made last January 12, 2012. This forecast was made by reliable agencies based on sound economic studies And the fact that the Philippines was not affected by the downturn in world economy that started in 2007 simply enforced the reliability of the economic growth predictions above. And true to this report, many industries in the Philippines have been experiencing a steady growth. Some of these industries that we supply to are the following:

1) The Construction Industry is expected (and currently experiencing) a dramatic “boom” which will continue into the next 10 to 20 years particularly in Metro Manila, Northern Luzon, Southern Luzon & most recently in Cebu with the opening of the 300 hectare (or 3,000,000 sqm.) South Road Properties (SRP) to developers. Reasons for the “boom” are demand in mass housing complexes such as high rise condominiums & town houses as well as the trend of complete community living where in new communities are being planned by developers to include malls, business complexes & residential buildings under one community. “Events” to support this claim are the obvious & very visible rise in businesses engaged in construction & development by various players in the said industry, to name a few with mentions of just SOME...