1-2-1 Meetings with the British Chamber of Commerce Philippines Chairman, Chris Nelson in London
DO YOU HAVE A SUCCESS STORY?
We’d like to hear from you.
CONTRIBUTING PARTNERSBritish Chamber of Commerce Philippines
This day was held at the UK-ASEAN Business Council offices in London and was a great opportunity to have a 1-2-1 meeting with the Chairman of the British Chamber of Commerce Philippines, Chris Nelson after a week of insightful economic analysis at various Philippine events to discuss the opportunities for specific companies in the country.
Approximately 200 British companies are now operating in the Philippines including well-known multinational brands such as HSBC, Unilever, Shell, Standard Chartered, AstraZeneca, Diageo, Arup, JCB, Marks and Spencer, River Island and Halcrow.
With promising growth on the economic outlook, the Philippines is quickly becoming an attractive destination for international investment. The Philippines’ medium-term growth outlook remains positive and is projected to continue its expansionary path and grow at an annual rate of 6.7% in both 2018 and 2019. In 2020, growth is expected to level at 6.6%.
Whilst being ranked 47th in 2018, by 2050 the country is predicted to become the 16th largest economy in the world, jumping 37 places in the last 5 years alone on the World Economic Forum’s Global Competitiveness report.
Benefits for UK companies exporting to the Philippines include:
- One of the largest English-speaking countries in Southeast Asia
- The huge popularity of western goods and services
- A rapidly expanding consumer base
- Gateway to numerous other Asian markets, all within 4 hours flight time
Strengths of the Philippines market include:
- 12th largest national population in the world
- Economy boosted by over $24 billion in overseas remittances
- A robust and fast-growing services sector
- A highly skilled workforce with competitive wages
- Liberalised economy
For more information on UKABC’s programmes and business opportunities contact Allen Lai.