• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » ADB optimistic on Philippines’ potential as fastest-growing economy

ADB optimistic on Philippines’ potential as fastest-growing economy

ADB optimistic on Philippines’ potential as fastest-growing economy
ADB optimistic on Philippines’ potential as fastest-growing economy

With its unprecedented infrastructure overhaul, tax reforms, and young workforce, the Philippines is poised to become the fastest-growing economy in Asia, according to the Asian Development Bank (ADB). Yasuyuki Sawada, chief economist at the ADB, said the country’s recent credit rating upgrade from S&P Global signifies the “fundamental strength” of the Philippine economy, which has maintained over 6% growth. The Philippines received a credit rating upgrade of BBB+, which means it has “adequate capacity to meet its financial commitments,” but changing circumstances could weaken it. Furthermore, the country’s GDP growth has been among the fastest in Asia, ahead of Vietnam and China. Sawada said the country’s debt is “well under control” and that overall fundamentals are “quite strong,” making it possible for the Philippines to become Asia’s fastest-growing economy. The Philippine workforce is also among the region’s youngest and is proficient in English, making them capable of meeting the needs of technology and business process outsourcing firms, said Sawada.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image