Event Type: Seminar
With a growing consumption power and a dynamic emergent middle class, the Philippines brings forth exciting market potential for retail and F&B companies to explore.
In the Philippines, private consumption accounts for approximately two-third of domestic output.
High OFW (Overseas Filipino Workers) remittances and growing BPO (Business Process Outsourcing) revenues, alongside tourism growth and a growing middle class, are the two key engines of growth fuelling such consumption.
In 2015, the cash remittances from OFWs stood at approximately US$26 billion – also the highest annual figure – and are projected to grow by another 4% for 2016. BPO revenues are also said to be on track to eclipsing remittances as the economy’s main source of strength. By 2017, the BPO industry is expected to rake in approximately US$29 billion.
At this seminar, hosted by the Singapore Business Federation, participants can learn about business opportunities in the Philippine consumer market and how to tap on them as our guest speakers share their insights.
For enquiries, please contact Ms Loi Min Qian at 6827 6848 (DID) / email@example.com or Ms Cheyenne Teo at 6827 6850 (DID) / firstname.lastname@example.org