The Philippines‘ economic development is greatly affected by local and international businesses. With the scenic view provided by the country, the real estate investment bloomed.
People have been purchasing and managing real estate properties for profit. Thus, it pushed economic growth and will continue to do so in the future.
What is the Philippines’ investment ranking in 2019?
This year, the Philippines is recognized as the world’s third-best country for doing business like real estate investment.
According to the CEOWORLD magazine, it came after Malaysia (first place) and Poland (second place). Completing the top 5 among 67 countries are Indonesia (fourth) and Australia (fifth).
The Association of Southeast Asian Nations (ASEAN) founding members are Malaysia, the Philippines, Indonesia, Singapore, and Thailand.
All of them are ranked as the top ten of the best real estate investment. Singapore bagged 6th place while Thailand made it to 10th place.
To complete the top ten in the ranking are India, Czech Republic, and Spain.
The United Kingdom is in 16th place while the United States lands on the 18th spot. China ranked in the 24th place leaving Japan to the 32nd.
The goal of ASEAN is to form a single economy with the rest of its constituent, including Brunei, Vietnam, Cambodia, Myanmar, and Laos.
These are the top 10 of the world’s best countries to do business like real estate investment for 2019.
1st - Malaysia (85.8)
2nd - Poland (85.2
3rd - Philippines (84.6)
4th - Indonesia (84.4)
5th - Australia (84.1)
6th - Singapore (83.7)
7th - India (83.6)
8th - Czech Republic (82.6)
9th - Spain (81.9)
10 - Thailand (81.6)
CEOWORLD magazine ranks countries around the globe each year. They based it on various categories such as the world’s richest people up to the best universities, top companies, and leading executives.
What are the factors affecting investment rank?
The rankings are the result of the data gathering through a survey. The statistical data are based on 11 different factors.
The survey has included corruption, personal, trade and monetary freedom, infrastructure, taxes, quality of life, workforce, investor protection, red tape, and technological readiness.
Each of these factors is then classified. It should fall in the following general categories like Economic Stability, Government Policies, Skilled Labour Force, Institutional Framework, Education and Research, Market Potential and Trade Openness.
In 2019, the Philippines ranking in every category is promising compared to the previous year. Below is the country’s position and earned points in every category.
Skilled Labour Force - 1st place for 85 points
Institutional Framework - 1st place for 85 points
Trade Openness - 10th place for 73 points
Economic Stability - 15th place for 78 points
Government Policies - 15th place for 70 points
Education and Research - 15th place for 68 points
Market Potential - 22nd place for 60 points
It is also noted that the country received the same score in Labour Force with the US and Institutional Framework with Turkey and Saudi Arabia.
What is the beneficial effect of Philippine’s economic status?
In the previous year, The United States and China have been involved with the bitter trade war. The United States has been imposing over $500 billion worth of tariffs on imported Chinese goods.
As a result, Chinese President Xi Jinping charged $185 billion worth of retaliatory tariffs from the United States imported goods.
The trade tensions continue to heat up between the two global superpowers. However, it has a drastic effect on investors around the globe. In response, investors search for alternative investment opportunities to relocate their funds from the United States and China.
Recently, it has been discovered that one of the best alternative investment options is within the Philippine property market. With the country’s physical features, investors realized how good real estate investment is in the Philippines.
This means that the residential property market continues to perform well and will still do so in the coming years. The demand for real estate properties remains strong in Metro Manila alone.
This is mainly because of the demands from families and young professionals, not to mention the influx of foreigners in the country.