Philippines offers zippy growth in the consumer space

ENTERPRISE Singapore's regional director Darren Lee talks about the opportunities in the consumer sector in the Philippines. Mr Lee is based in Manila but notes that while Manila is a good starting point, companies should also tap the consumer potential in fast-growing cities like Cebu, Davao, and Iloiilo.

1. What are some of the latest developments in the Philippines' consumer sector right now?

The Philippines has achieved seven consecutive years of positive GDP growth above 6 per cent, in part bolstered by tourism receipts, its business process outsourcing industry and overseas remittances. It is expected to continue this upward growth, with the Asian Development Bank projecting its GDP growth to hit 6.4 per cent in 2020.