Tapping Into The Philippine Economy Is The Next Best Move

The country now sits atop the rankings of the best countries to invest in. Every year, the Philippine economy sees the entry of billions of dollars thanks to the number of Filipinos working or living overseas. Aside from the tourism industry, these remittances have resulted in a budget surplus. 

In addition, the Philippine government is looking to tap the digital technology to possibly seal the country’s growing reputation as the best investment site in the world.

“This is a country with a large headroom for growth and a talented and eager population ready to meet the challenges of the new global economy. Asia is now the center of gravity of the global economy and the Philippines is now a leading engine of that regional growth,” said Finance Secretary Carlos Dominguez III in a release from the Department of Finance.

The Philippines has untapped markets ready for technology and businesses to explore. In fact, according to the estimated size of the Philippine market around 99 percent of payment transactions are still in cash and check. Additionally, around 2.5 billion of payments are being processed monthly that amount to USD 74 billion. The government has expressed eagerness to change the situation, which leaves a big room to explore on how to digitize the country and to provide more convenient means for the people.

Pearl Pay will be taking this chance to push the Philippines forward as not just the best investment site in the world but a country with a robust digital and blockchain ecosystem.

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