Future is always hard to predict in short term, but not that hard in a long term. There are numerous factors influencing the economy, and not all people have crystal ball.
As I have said before, the current Philippines is very similar with China in 1990: large young population, no industry base, poor economy. The reason why I have confident in Philippines promising future is because of Filippino people, there are around 100 million people, and the average age is 25. There are so many young people here, it’s hard to see even in China, and they have 3 distinctive characteristics:
- Love to share
- English communication skills
- Familiar with western culture
Filippino people really loves to share, and Philippines is the second most Facebook users country. When you walk around here, you can see many people selfi everywhere in street, people selfi before they eat, people selfi when they drink. They put their selfi in Facebook and share with their friends. There’s a deep desire in their heart to pursue a better life always! And most filippino people don’t save money.
So in Manila, you can see many large shopping malls and street in every area, and Mall of Asia is the second largest shopping Mall in Asia.
This pic shows Greenbelt 1 in Makati
This pic shows Greenbelt 5 night view, good place to have dinner.
This pic shows that DingTaiFeng open in High street in BGC, DingTaiFeng is a Chinese company famous for Xiaolongbao.
This pic shows Highstreet environment, very good place to walk and shopping.
If you open a good restaurant, or have a nice environment for shopping in Manila, you don’t need worry about customers, because filippino people would like to come, take pictures and share with their friends.
The second I am talking about is English. Most young filippino people can speak good English, there are many Muti-National companies put their call center here for low labor cost and English communication capability here. In Ayala street in Makati, you can see many high modern buildings, many global companies have office here.
The last one is about culture, most filippino people is Christian or Catholic, they have the same culture as western world, especially USA culture. They are polite and obey rules, better enough, much lower labor cost. It’s a idea place for multi-national companies to setup office here.
The problem is most people here are poor, they don’t have enough money to pursue the life they want. So the government should make good business policy to welcome other country company to invest here, especially manufacturing to let people earn more money. Think that there are around 100 million people here and love to spend, a dream place to have business here.
In the long run, I believe the world will becomes better for peoples life improving. Philippine would not focus on geo politics issues but on business side, and Philippines will become fast growing country in the future.
So just some suggestion, if you have spare money now, invest here before tide up.