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World Trade Center Metro Manila welcomes you to the
46th WTCA General Assembly April 26 to 29, 2015
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Now is a good time to come to the Philippines
Philippine growth prospects
Overall investment climate
Tourism
• Increasing international recognition
• Emerging as one of the world’s top tourist destinations
• High growth of tourist arrivals
• Recognized strong growth potential
• Economic resilience • Emerging as a preferred
investment destination
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Philippines included in the “overweight group” together with China, Russia, Brazil and South Africa in their Global Emerging Markets list (December 2011)
Philippines could become a “breakout nation”(able to beat expectations in terms of growth rate; and grow faster than other countries in the same income class per capita income) (May 2012)
Philippines can be one of the top 10 “growth countries”, or economies that account for at least 1% of global GDP within the decade (January 2012)
Philippines will leapfrog 27 places to become the 16th largest economy in the world by 2050 (January 2012)
Philippines as the top country for long term growth due to the rapid population growth (February 2012)
Philippines recognized for its strong growth potential
Source: Jones Lang Lasalle Leechiu compilation, July 2012
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Highest growth rate in Southeast Asia
One of the highest growth rates in Asia, second only to China
The economy is resilient with better-than-expected GDP growth amid a weak global economic backdrop
Full-year 2012 and 2013
6.8% 7.2% 6.5%
0.0%
2.0%
4.0%
6.0%
8.0%
2012 2013 2014F
Philippines World ASEAN-5
GDP growth
Source: “World Economic Outlook”, International Monetary Fund, April 2014
†
†ASEAN-5 or the original members of the Association of Southeast Asian Nations, includes: Indonesia, Malaysia, the Philippines, Singapore and Thailand
Makati Business District
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Stable growth trajectory as substantiated by recently attained investment-grade status
“Improvements in fiscal management have made government debt dynamics more resilient to shocks”
“The Philippine central bank has done a good job in managing inflows”
“Inflation management track record and proactive use of macro-prudential measures to limit the potential emergence of macroeconomic and financial imbalance is supportive of the credit profile”
March 2013
May 2013
INVESTMENT GRADE
Fitch S&P Moody’s
BBB- BBB- Baa3
“The Philippines’ economic performance has entered a structural shift to higher growth, accompanied by low inflation”
October 2013
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The Philippines is emerging as a preferred investment destination
Country Reasons for investing
U.S.1 Sentiment towards the U.S.
Availability of trained personnel/
efficient manpower
Availability of low cost labor
Office lease costs
Japan2 Cost of doing business
Labor supply
Competitive salary rates
Available incentives
Korea3 Labor cost
Infrastructure (roads and power)
Sources: (1) ASEAN Business Outlook Survey 2012/2013, U.S. Chamber of Commerce and American Chambers of Commerce in ASEAN (2) Japan External Trade Organization (JETRO), March 2012 (3) Korean Economic Daily, a publication owned by a syndication of conglomerates that include Samsung, Hyundai, SK and LG, December 2012
“The Philippine labor force has a good reputation and better English (the global business language) than its counterparts in any large economy in the Asian region.”
“Global Investment Trends Monitor”, United Nations Conference on Trade and Development (UNCTAD), January 2013
John D. Forbes, Senior Advisor at the American Chamber of Commerce of the Philippines, December 2012
“The Philippines is among the countries in Southeast Asia which saw higher foreign direct investment (FDI) flows last year from a year ago even as total flows to the region declined.”
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Philippine trade prospects
•9th year surplus in 2013 at USD 5.085 billion (the Philippines received investment-grade credit ratings last year after posting strong BOP surpluses in recent years)
•Strong BOP promotes a stable currency environment and facilities and healthy build-up of foreign exchange reserve
Strong external position with positive balance of payments
•The Philippines ranked 11th places since 2010 to 64th place out of 138 economies in the World Economic Forum’s Global Enabling Report 2014 due to enhanced market access (11th place)
•The International Monetary Fund (IMF) projects exports to grow as demand picks up in the US and the euro area
• ING projects Philippine exports to increase by 6.4% annually until 2017
Exports outlook
• In light of the uptrends in consumption and investment, imports of goods and services are likely to rise relatively strongly, according to IMF (reinforced by the import intensity of electronics)
• ING projects Philippine imports to increase by 5.4% annually until 2017
Imports outlook
89
6,421
15,243
11,400 9,236
5,085
(20,000)
(15,000)
(10,000)
(5,000)
-
5,000
10,000
15,000
20,000
2008 2009 2010 2011 2012 2013
Current account Capital and financial accounts
Others Balance of payments
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The world’s best country in Business English
From 77 represented countries worldwide, the Philippines attained the top BEI score (7.95), “a BEI level within range of a high proficiency that indicates an ability to take an active role in business discussions and perform relatively complex tasks"
10 Best Countries 1. Philippines 2. Norway 3. Netherlands 4. United Kingdom 5. Australia
Source: GlobalEnglish, headquartered in Brisbane, California, provides Business English communication software to multi-national companies – including Cisco, Procter and Gamble, HSBC, and Pfizer
2013 Business English Index (BEI) Study* by the GlobalEnglish Corporation
6. Belgium 7. Finland 8. Sweden 9. India 10. Singapore
*Employees surveyed in countries for which the official language is English (such as the United Kingdom, the United States and Australia) are non-native English speakers
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The Philippines is "#1 in voice and can be #1 in non-voice BPO services”*
Major global Offshoring & Outsourcing companies in the Philippines
†
*Source: Business Process Outsourcing Philippines †Over 28,000 Accenture employees in the Philippines as of November 2012 (up from 25,000 in 2011)
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At a demographic “sweet spot” with a growing working population expected to shore up economic output and
domestic demand
Total population estimated at 100 million by year-end 2013
One of the youngest nations in Asia with 70 percent younger than 35 years old
Working age population to reach almost 70 percent of the total population by 2050
Total population Working age(15-64), percentage of total
Philippine Population
1950 60 70 80 90 2000 ‘10 ‘20 ’30 ’40 ‘50
mill
ion
s
Percentage to
total
February 2013
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The Aquino Administration
“Governance reform has been a centerpiece of the administration’s policy efforts”
“For the Philippines, [the second credit rating upgrade] is yet another confirmation that Aquino’s reforms have borne fruit, which would help in attracting not just short-term flows, but long-term direct investments”
Transparency
Accountability
Address inefficiency
“Good governance will continue to be the platform of public administration”
Minimize corruption
Source: Philippine Investor Relations Office, February 2013
March 2013
May 2013
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President Benigno Aquino
Included in Time Magazine’s prestigious “Leader’s List” alongside U.S. President Barack Obama and South Korea President Park Geun-hye
Invited to give keynote speech at the World Economic Forum “Partnership Against Corruption” event in Davos, Switzerland
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TOURISM
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The Philippines has emerged as one of the world’s top tourist destinations
One of the 13 “Hottest Travel Destinations of
2013” in its January issue
Number 17 on its list of “46 Places to Go in 2013,” ahead of Bangkok, Paris and Casablanca
One of the top 10 hottest new travel
destinations for 2013
Escaya Beach Resort & Spa, Panglao Island, Bohol Dedon Island Resort, Siargo El Nido, Palawan
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Internationally recognized for its increasing competitiveness
Natural attractions
Price competitiveness
Prioritization of the Travel & Tourism industry
Conducive policy rules and regulations regime
“The Philippines is the most improved country in the Asia Pacific region, ranking 16th regionally and 82nd overall* in travel and tourism competitiveness, up 12 places since 2012.”
Source: :”Travel & Tourism Competitiveness Report 2013“, World Economic Forum, a non-profit foundation headquartered in Cologny, Geneva and established in 1971
*Out of 140 economies surveyed in 2013
Tubbataha Reef Mayon Volcano, Albay
Puerto Princesa Underground River Chocolate Hills, Bohol
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Strong growth momentum from visitor arrivals
Visitor arrivals to the Philippines are on a continuous upward trend
• Philippine tourism achieved a new milestone in 2012 as visitor arrivals surpassed the 4 millionth mark and grew by 9.1% versus 2011
• The country is aiming to hit 6 million visitor arrivals by 2014, and 10 million by 2016
Source: Philippine Department of Tourism
3.5 3.9 4.3 4.6
6.0
10.0
-
2.0
4.0
6.0
8.0
10.0
2010Actual
2011Actual
2012Actual
2013Actual
2014Est.
2016Est.
Visitor arrivals (in millions)
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Easy Access
3 to 4 hours from China, Singapore, Korea and Japan
9 hours from Dubai
11 hours from Los Angeles
15 hours from United Kingdom and New York
Japan
France
PHILIPPINES
Korea
Dubai Hong Kong
Los Angeles New York
China
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No visa required to enter the Philippines for a stay of up to 21 days
No Visa required
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What to Expect in the 46th WTCA GA
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All delegates will be accorded airport assistance and free arrival and departure transfers
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World Class accommodation World Class
Accommodations
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No problem going around because everybody speaks English
Chocolate Hills, Bohol
Shopping Night Life
Tours Dining
Cultural Tours
Shopping
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Savor a fusion of culinary experience from world class cuisine to fastfood restaurants all over the metropolis
Cuisine
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As needed, professionally-arranged business matching may be handled by our competent staff with relevant private companies and government agencies
Meetings
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Day trips to the most culturally-rich spots north and south of Manila or to weekend getaways such as Boracay and Palawan may be made available months in advance of the General Assembly
For those who may wish to stay longer in the Philippines…
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