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Rediscovering the Philippines

Official Name: Republic of the Philippines

Geography: Archipelago of 7,107 islands

National Languages: English, Filipino

Population: 103 Million

Labour force: 41 Million

Currency: Philippine Peso

Religion: Roman Catholic- 90%
                Muslim - 8%
                Other - 2%

GDP: $250.3B (2012)

The Philippines: The Offshore Destination for Australian Businesses

  • Once called the "sick man of Asia", the Philippines is now one of the fastest-growing economies in Southeast Asia. The Philippines has a GDP growth of 7.8 per cent, with a politically stable government that provides incentive programs to encourage foreign companies to invest in the country.
  • The Philippines has received an investment grade credit rating from the Big Three - Standard and Poor's (S&P), Fitch, and Moody's, proof that it holds rosy prospects for foreign investors.
  • The quality and reliability of infrastructure and business support have improved by leaps and bounds with the rapid growth of the BPO sector.
  • English is considered the second language of Filipinos and the official language in government, education, and business.
  • The Philippines has an excellent higher level education, resulting to a wide talent pool of young professionals with a median age of 23.
  • The Philippines is culturally diverse country with Spanish, American, and Asian influences. This makes Filipino workers highly adaptable and easy to work with.
  • Australian businesses can save an average of 60-70 per cent by hiring Filipino employees through MicroSourcing.