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Spirethoughts

Spire's six most recent Spirethoughts.

Will cost-effective compost rejuvenate African agriculture
Will compost turn out to be the magic mineral for African agriculture?
Will emerging countries dominate the pool of global megacities in futu...
Thumbnail_Will the tech sector create new employment opportunities for persons with disabilities
Will the tech sector create new employment opportunities for persons w...
Thumbnail_Spirethoughts_Can permanent research bases for human beings be built on the moon
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Will Africa become the latest global aviation hot-spot
Will Africa become the latest global aviation hot-spot?
Will air taxis become the latest urban transport innovation_
Will air taxis become the latest urban transport innovation?

Philippines: Another Asian Tiger in the making?

The Philippines, the world’s 33rd largest economy, might be on a sustainable upward growth trajectory. Under the leadership of President Benigno “Noynoy” Aquino III, the country is fighting corruption as well as tax evasion and is investing heavily in its infrastructure. The 2012 budget has increased infrastructure spending by 26% over 2011. Much of this funding will go to roads, trains as well as water treatment and distribution.

The services sector, contributing 67.7% to GDP, is driven by a growing Business Process Outsourcing (BPO) industry which will employ over 1.2 million people and generate revenues of nearly US$ 25 billion by 2016. The country is also a rising tourist destination. In the first three months of 2012, the country attracted 1,148,072 visitors, 16% more than in last year. It is projected that the middle class will form a quarter of the Philippines’ population by 2015.

Improved governance, increased infrastructure spending and a growing services industry could very likely position the Philippines as Asia’s next growth story.

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