The Philippines has a population of over 100 million but only the 33rd largest economy. However, its economy is predicted to rise to 14th largest by 2050 as incomes increase. The Philippines has strong influences from both the West and Asia in its culture and is one of the largest English-speaking nations. However, overcrowding, poverty and lack of jobs have led to a weak national psyche and millions emigrating for work despite their strong work ethic. Corruption and bureaucracy also slow development.

1. Philippines:
10 Insights
about a hidden pearl

2. Asia 5
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3. special
The Philippines is known as 'The Pearl of the Orient Sea'
Whilst this is a pearl that has remained hidden
......it is about to be discovered

4. growth
Economically, the Philippines is a laggard; it has the 12 th
biggest global population but only the 33rd biggest economy
Goldman Sachs thinks it faces “broad-based challenges”
in areas like fiscal discipline, education,
investment and health care
However, by 2050, GS predicts the nation's economy could
rise to 14th rank with average incomes from $20K-$40K

5. fertile mix
The nation is a rich blend of
western and eastern
influences
The Spanish and Americans
have left strong legacies –
food, a 'fiesta' culture,
language, Christianity
(Islam is strong in the south)
Mixed with this is a clear
Asian colouring

6. language
One of biggest English
speaking nations on the
Planet
It is reckoned that 93% of
Filipinos speak some English
(source: Andrew Gonzalez, Journal of
Multilingual Development)
...And some 110 million have
received English training
Unsurprisingly, call centres
are a big industry

7. big brother
Filipinos' outward ties are strongest with America,
which it sees as its protector
Americans honour their role by sending aid
(e.g. in the recent flooding) & military cooperation
In Jan 2012, there were joint talks which might lead to
American military bases being reinstalled on the islands

8. Filipinos are in demand due to their strong work ethic
...but also their creativity. A new wave of entrepreneurs
(Kermit Tesoro, Michael Cinco, Monique Lhuillier, Charice Pempengco)
are making names for themselves internationally
work culture

9. lack of confidence
Naturally optimistic and welcoming,
deep down Filipinos feel that the world doesn't like them
Over-crowding, poverty, lack of jobs, poor infrastructure
terrorist threats & natural disasters all contribute
to rock the national psyche

10. wasted potential
The Philippines has one of
the worlds' biggest
diaspora with 11 million
working abroad
Whilst 'Overseas Filipino
Workers' are considered
“the new heroes” of the
Philippines, they are
evidence of a country
which remains firmly a
place to escape from

11. more waste
Whilst an official unemployment rate of 7.4% is not bad,
many Filipinos consider that they are
unemployed, underemployed or simply abused
E.g. there are an estimated 250,000 trained nurses
unable to find work (Professional Regulatory Commission)

12. thwarted
Corruption & bureaucracy
slows the country
Manila's attempts to widen
its roads and build its
infrastructure proceeds
at a snails' pace

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