Access to Asia: Your Multicultural Guide to Building Trust, Inspiring Respect, and Creating Long-Lasting Business Relationships

Chapter 11The Philippines

Our country has the social and economic momentum to go from success to success, and truly make waves throughout our archipelago, in the international community, and in the vast, immeasurable ocean of history.

—Benigno Simeon Aquino, President of the Philippines

Introduction

The Philippines, otherwise known as the Pearl of the Orient Seas, is a unique archipelago that has the third largest English-speaking population in the world, after the U.S. and India.¹ It is Asia's largest Catholic country and the highest birth rate in Asia, and one-third of its population is under the age of 35. Predictions are that the population may double in 30 years. Not surprisingly, it has been known as the text capital of the world and now as the selfie capital of the planet.²

The Philippines has unwavering optimism, positive outlook toward the future, and bahala na—meaning that life is to be enjoyed to its fullest every day, without worry (literal translation is leave it up to God). Similarly, business confidence remains high, and its growth outlook is robust. President Benigno C. Aquino III's administration is focused on five areas for job generation and economic development: outsourcing, tourism, infrastructure, agriculture and fisheries, and semiconductors and electronics. The national budget is aligned to provide massive support. Indeed, Deloitte's Doing Business in ...