The Philippines: a dynamic country in times of crisis

A country in constant development

Thanks to the emergence of a new middle class eager to consume and raise their standard of living, the Philippine economy has been growing steadily since the turn of the 2000s. This dynamic has accelerated considerably over the past decade. Indeed, the Philippines’ GDP grew by over 100 billion US dollars between 2010 and 2020. These figures testify to the country’s positive economic future.

This situation is reassuring and conducive to investing in real estate and generating substantial, stable income over the long term.

An economy that survives the health crisis

Of course, this dynamic development of the Philippine archipelago is hampered by the global health context of Covid-19. In economic terms, the Philippines currently has sufficient monetary and fiscal leeway to cushion the socio-economic consequences of the pandemic. In fact, the Philippine government has chosen to diversify its economy in order to ensure that its sources of income are diversified and not dependent on tourism.

In particular, the Philippines has invested in industry, especially in new technologies. For example, the country is a major exporter of electronic components.

It is this economic diversification that has enabled the country to avoid the economic crisis caused by Covid. In the midst of a health crisis, it’s clear that this choice of diversification was a judicious one, and is now helping the Philippines to reduce the impact of global travel restrictions.

In fact, even if tourists are not yet arriving, the country has other sources of income that will enable it to wait more calmly for the return of tourists without destabilizing the economy too much.

All these factors mean that the Republic of the Philippines has a particularly healthy economy, conducive to investment, especially in real estate. This advantageous environment makes it possible to invest in the Philippines and generate stable, long-term income, with good prospects for the future.

For more information on real estate investment in the Philippines or Thailand, please contact us.