philippines - a hidden pearl
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Over the next 30 years, The Philippines is destined to become a success story. Read why.TRANSCRIPT
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Philippines:10 Insights
about a hidden pearl
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Asia 5Bringing you a flavour of businesstrends in Asia...in just 5 minutes
A Futures Coaching initiativewww.futurescoaching.com
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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
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growth
Economically, the Philippines is a laggard; it has the 12th 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
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fertile mixThe 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
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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
language
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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
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work culture
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
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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
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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
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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 nursesunable to find work (Professional Regulatory Commission)
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thwarted
Corruption & bureaucracy slows the country
Manila's attempts to widen its roads and build its
infrastructure proceedsat a snails' pace
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About Futures CoachingCelebrating 5 years!
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* the future of retail* the future of offices* the future of banking* the future of mobility
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