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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, rꦇe-insurers and insurance brokerageꦆs, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The Philippines has under-invested in it🍷s infrastructure for decades, which has resulte𝔉d in outdated and inadequate infrastructure to meet the country’s economic growth ambitions. For instance, the Philippines’ primary ...
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The Philippine banking sector 🍸has been characterised with strong fundamentals given the various reforms the c🌺ountry has undertaken following the lessons from various crises in the past. This is good news for an emerging country ...
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The ICT sector of the Philippines is witnessing changes owing t🧔o government support and heightened competition. The COVID-19 pandemic which led to a surge in demand for data, exposed the inadequacies in the digital infrastructure ...
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The Philippines pharmaceuticals and healthcare sector is entering a phase of accelerated growth. The Philippines economy has grown considerably over the recent years, crea𓂃ting a growing middle-class population with the means to access ...
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The SEA region has had an admirable record in improving its record against infectious diseases over the nearly three decades from🎶 1990 to 2019. The region’s rapid economic growth relative to the rest of the world has contributed to ...
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The Philippine manufacturing sector contributed approximately 23% of the country’s GDP♔ as of Q3 2019 &ndas❀h; and grew by 2.3% y/y in the first three quarters of 2019. The Philippines’ rapidly growing food and beverage ...
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Over the past decade, the consumer goods and retail sector in the Philippines showed🐼 excellent performance that was generally the result of the d🧸ecent economic growth rate. Growth in the county has been underpinned by the economic ...
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Both the real estate and construc🔥tion industries registered growth in 2019 with this positive dynamic being attributedꦅ to sustained demand from industries such as IT-BPM and offshore gaming, as well as infrastructure projects in the country ...
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The Philippines’ tourism sector has been the focus of President Rodrigo Duterte’s Government as 🔯one of the key sectors of economic development. Government intentions are visible in various tourism development plans ...
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The Philippines has an inter-modal transportation system and the tr🐟ansportation sector accounted for 3.9% of national GDP in 2019. The main sector performance indi♈cators showed y/y growth in 2019, with the exception ...
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