INTHEBLACK September/October 2025 - Magazine - Page 20
PHILIPPINES
SKILLS IN DEMAND
OVERVIEW
1. Data analysis
2. Finance and accounting
3. Business analysis
One of South-East Asia’s fastest growing economies,
the Philippines boasted GDP growth of 5.6 per cent
in 2024, with the digital economy contributing
8.4 per cent. FDI stood at a healthy US$8.9 billion
(A$13.8 billion) in 2023. Household consumption
rose by 4.6 per cent in Q2 2024, hinting at the
burgeoning consumer sector and the growing
middle class. The Philippine Government is also
focusing on upgrading the country’s infrastructure
via the Build Better More program.
MAJOR SECTORS
• Real estate and construction
• Ecommerce
• Tourism
F E AT U R E
KEY BUSINESS ATTRACTIONS
The government’s Ease of Doing Business
and Efficient Government Service Delivery Act
of 2018 aims to cut red tape for businesses,
and there is a push for full digital transformation
in government agencies. From the warmth of
the people and the fact that English is widely
spoken, the nation is fast becoming a favoured
global business destination.
Makati Skyline, Metro Manila, Philippines
20 INTHEBLACK Sep/Oct 2025 SPECIAL EDITION
LOCAL INSIGHT
The Philippines still provides challenges for
business, says Dr Erwin Vincent Alcala CPA,
chair of the board of trustees and president
of Saint Paul School of Professional Studies.
Manila in particular has traffic jams, power
outages, lagging internet and lengthy business
registration processes.
However, government reform processes;
the potential for public–private partnerships
with government; and the emergence of business
hubs outside Manila in cities such as Cebu, Davao,
Pampanga, Cagayan de Oro and Tacloban
mean businesses can increasingly access
better infrastructure, greater support
and lower congestion.
“Doing business in the Philippines
CPA AUSTRALIA
offers huge potential,” Alcala says.
MEMBERS
“But it pays to be patient, informed
and proactive. The challenges are
200
real, but so are the opportunities
for those who can navigate
them wisely.”
