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Location of the Philippines. The Philippines is a sovereign island country in Southeast Asia situated in the western Pacific Ocean. It is a founding member of the United Nations, World Trade Organization, Association of Southeast Asian Nations, the Asia-Pacific Economic Cooperation forum, and the East Asia Summit.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
The BPO industry has had the most substantial contribution to economic growth, yet it only employs 1% of the Philippine labor force. The MTPDP (Medium-Term Philippine Development Plan 2004–2010) set a target to create "1.5 million jobs a year between 2004 and 2010, or a total of 10 million jobs by 2010."
It's easy to assume that a big company, especially one that is a household name, might also be incredibly profitable, but that's not true for every company. Some are far more profitable than ...
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The Philippines is the world's third largest producer of pineapples, producing more than 2.4 million of tonnes in 2015. [50] The Philippines was in the top three banana producing countries in 2010, including India and China. [51] Davao and Mindanao contribute heavily to the total national banana crop. [51]
For many, going into business for themselves is the American Dream. Keep reading to learn about five of the hottest small business ideas for 2024.
The largest projects in the Philippine Economy includes both megaprojects, costing over $1 billion, and other large investment projects, typically costing between $10 million and $1 billion. Projects with investments below $10 million also may be included here, either as parts of larger projects, or in case of major international significance ...