What do you think about the economy of the Philippines?

Answer 1

It is getting tough during the last past years. Even professionals are going out of the country. Everybody is taking up Nursing Course, as 1st and 2nd courses because it is the easiest way out of the coutnry.
Our nurses are now in the USA, London, Singapore, Middle East, Ireland and more countries. Doctors are into the nursing course as a 2nd profession to be able to get out of the country.
Pharmacists are in demand in the USA, Australia and Canada. Here in the Philippines they are looked down as salesgirl. In other countries they are looked up. The doctors usually ask them for drug intereactions. They counsel patients abroad. Pilots and teachers are also moving out.
Filipinos value education alot. Majority are college graduates however, cost of living is getting higher and our salaries arent even to meet our daily needs.

Answer 2

I was learning in my economics class that the Philippines has the potential in becoming the richest country in Asia. The Philippines is rich in natural resources that has been estimated to be worth 1 trillion dollars, however the government of the Philippines restricts any economic activities in cultivating any of it's resources. They may seem unfair and corrupt but by the time the countries in the Wealthy Western World run out of resources, the Philippines will then have the upper hand because they will be dependent on the Philippines for the needed resources. This is unfair to the citizens of the Philippines today because there is not enough funds to improve the infrastructure and education needed for a country to grow and prosper. Corruption is not to blame because all countries are corrupt to a certain degree and are just good in hiding it, such example is the United States. Outside we seem wealthy and abundant in opportunities but internally we have a lot of problems far worst than the Philippines. There is a distinction between rich and developed. Most countries that are backward such as the Philippines is rich but not developed like USA or the European Union.

Answer 3

I would consider it to be very fragile! One of the mainstays of the economy there is the fact that there are so many citizens working abroad and sending money back to their relatives. Poverty is a huge problem and there is little or no safety net for the people as in other countries with medical,hospital,unemployment benefits etc., and corruption has helped to undermine the economy as well. If corruption were to be brought under control I believe that the tax rate could be reduced and in this eventuality big overseas manufacturers would seriously consider setting up in the Philippines as wages are favorable. I further understand that of all the countries in the world (about 218 in total) the Philippines is choice number 157 for people to invest which is not a good recommendation.

Answer 4

The economy is better than it was, but certainly not what it should be. In my opinion there is no reason for starvation in the Philippines and poverty should be low. The economy is what it is due to the people not the politicians or the wealthy. What the politicians and wealthy do the people allow them to do.

The people allow Six Month Contracts. The Unions and Organization that are suppose to represent the interest of the working class can call a work stoppage because they oppose Constitutional changes or changes in the form of government, but they will not call a work stoppage to stop the use of Six Month Contracts by the wealthy families that own Robinson, SM, Ruston, Ayala, San Miguel, etc.

The people will take to the streets at the slightest mistake of the Administration, but they will not take to the streets when the Senate does not act upon needed legislation for years.

The people continue to purchase Petron Gasoline even though they damaged the water and land and have refused to act responsible in cleaning it up. Where is the Opposition Party and the Churches that are always quick to mobilize street protest? Why are there not pickets in front of the Corporate Offices and Outlets of Petron?

The wages are not adequate in the Philippines to produce a strong middle class, but at the same time the SM family and San Miguel family become major retail players in other countries. They made their fortune in the Philippines and use that Philippine fortune to extend their empire to other countries without taking proper care of the employees or people in the Philippines that made the fortunes possible. Why does SM pay their Guam employees more than they pay their Philippine employees because the people of Guam will not allow them to do otherwise.

The people of the Philippines allow their government to put restrictions on foreign investors in order to protect the SM, Ayala, San Miguel and Robinson families and at the same time the government enables the same families to become foreign investor in countries outside the Philippines. Foreign Investments would help the people of the Philippines by creating jobs, but the four or five wealthy families in the Philippines which actually control the country do not want the competition.

The people elect family names, entertainers, sports figures to political office and yet will not demand they attend sessions of Congress. Seldom is there even a quorum present in the Congress to conduct business, yet the people will continue to reelect them. They will elect and reelect people that are corrupt and been charged, even convicted of crimes and expect these same people to govern honestly.

Philippines Airlines went for years and did not pay airport taxes. This was common knowledge, but the people did not mount a protest. The government settle the case allowing Philippines Airlines to take years to pay the debt off without interest or penalty and the people did not mount a protest. A few weeks after the settlement was announced Philippine Airlines announced they had signed contracts worth billions of dollars for new aircraft. The people said nothing and did not mount a protest.

Their famous boxer purchased over $6000 worth of clothing at one cash register in the States following his fight and brings home an imported car worth over $100,000 while the politicians in Manila and Quezon exempt him from paying any local taxes on the income generated in their city from the fight. There are Mercedes dealers in Manila why give the money to a U.S. Dealer? Few families in the Philippines will ever see $6000 at one time, yet they will say nothing about his tax exemption and will not mount a protest.

They say only a fool continues to do the same thing over and over expecting a different result.

Answer 5

If people stopped spending their days eating and playing with their phones during work hours and did an honest 8 hour work day, then things might get better.

As it is, the Western nations keep this country going with handouts, and very few Filipinos know that.

75% of the GDP of this country goes towards paying off a very small percentage of the interest on the foreign debt to the countries who help.

More people in this country should pay their taxes, they're not high, and work a damn sight harder.

Take a lesson from the Vietnamese who overtook this country 10 years ago (2 years after they opened up to the outside world) in GDP and tourism dollars. They all have TV's and motorbikes but they work 10 hours a day with one hour for lunch and don't blow their money on crap, they work hard for what they want.Filipinos seem to expect someone will just give them what they want without hard work.

Get a life, work hard, get off the bloody phone texting and earn your living!

Answer 6

A very good place to do business. I try to go there at least twice a year because they are big bucks there. 10 years ago i went and sold paper bags and made a profit of 5 times for each bag. Now i have one small call center ( i work for 3 companies) and sell, well i cannot say, but very common school supplies. The people is very open to all sort of things in big cities. A have two great business partners and believe me they are entrepreneurs at heart.
They are almost 85 million people leaving there, and they love to buy...

Answer 7

It's in a sorry state. Filipino are fast to multiply but slowput in building progress to their country. It is always battered by tropical storms so they always start all over again. Politicians find ways to cling to their power. Government men are corrupt. Businessmen are bribe-giver. The churchmen always interfere with the government. The military is accused of human rights abuses. Ambitious military officers stage a coup. The rebels hide under the cloak of their militant organizations. MIlitant groups take the streets to air their protests.
The media cover these violence and crimes in front of your tv screen.
Ordinary Filipinos who are fed up go abroad. Nobody cares for them. The Philippines is in chaos.

Answer 8

Well the PI someday will rise again because 13% of all Pinoys live outside, and I hope this big 13 will bring back successful patterns that will work well in the international market. Soon someone with a clear vision will emerge.

Answer 9

Very improving....

If in the past the peso-dollar rate is like 50 and up, now its 49 and up.

Every small improvement is a big piece on the development of the economy.

Answer 10

its good . I had a good friend who is in a wealthy family there. She's engaged now..
good place to live.. better living ..cheaper too.