The tiger of ASIA is starting to roar again and this time the world will hear and witness The Philippine's glory and might.

Thanks to good governance, strong leadership, expanding infrastructure, and legislative initiatives, the Philippines is quietly but surely establishing itself as an economic force in the Southeast Asian countries. However, like with all developing economies, the trickle-down effect has yet to reach its full potential, and societal issues such as poverty, inequality, and unemployment must be tackled head-on to continue this journey of growth in the coming years.

The Philippine economy progressed slowly until the 20th century but has changed dramatically in the last two decades. It grew at an average yearly rate of 4.6 percent between 2000 and 2009, while that number increased to 6.4 percent in the following decade. This has propelled the country from a lower middle-income country with a gross national income per capita of less than $1,000 in 2000s to a higher middle-income country with a gross national income per capita of $3,160 till the last year.

Apart from the agricultural sector, the industrial companies have been a source of a good and consistent contribution to the Philippines' GDP. The Philippines' government is now actively making efforts to attract foreign direct investment by strengthening its infrastructure while also maintaining a good number of country’s own workers in those industries. The country has been successful in establishing a number of economic zones that have attracted a large numb er of foreign companies. The development of the $14 billion New Clark City project near Manila is proof of the Philippines' industrial and economic prosperity. #PhilippinesEconomy


🎙️NARRATION: BritishProvo
🎥 Select images Getty
Background Music: Believe Neffex

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