44th largest economy today according to HSBC
Sharing with you some statistics about the Philippines in the first decade of the 22nd Century:
The Philippines is the 44th-largest economy in the world today, according to HSBC estimates. But if current trends hold, it can leap to the No. 16 spot by 2050. The Philippine stock market, one of the best performers in the region, closed at a record high after the recent S.& P. rating upgrade, and the country’s currency, the peso, reached a four-year high against the dollar at about the same time. Source: NYTimesBetter than a few years ago according to Religare
According to Religare Capital Markets Ltd., an investment company specializing in the Asean market remarks that the Philippines' opportunities are timely now that more popular investment hubs are beginning to offer smaller yields,
“The Philippines is a market where people want to put money into,” Religare’s global head of equity capital markets John Sturmey said in an interview with the Inquirer. “The story here is certainly better than how it was a few years ago. Everyone is saying good things about the Philippines.”
“Hong Kong and China are offering less opportunities,” he said. “They’re ‘over-banked’ since there are a lot more financial institutions chasing after fewer and fewer deals.” This has made it less attractive for firms like Religare, which would have to contend with thinning profit margins. Source: PDI
All these positive ratings for the Philippines are welcome and should inspire us to strive even more to lay down better foundations for our youth. Also, economic progress should equalize opportunities especially for the underprivileged.