4 Reasons to explore the Consumer Market Opportunities in The Philippines
Amongst the world’s growth markets, the ASEAN trade bloc is a particularly notable success story. It significantly out-performs many developed territories as well as those which are still developing. HKTDC Research recently undertook a market research trip to the Philippines, the second-most populous ASEAN country, with the intention to examine the consumer market development there, as well as identifying business opportunities in this key Southeast Asian trading territory. An archipelago state which is home to more than 100 million people, the Philippines is gradually transforming into a burgeoning modern consumer market. Over the past six years, Hong Kong’s exports of consumer goods to the Philippines have grown steadily at a compound annual growth rate (CAGR) of 5%. Major consumer items being exported to the Philippines include clothing, toys, games, sporting goods and footwear. Consumption Power Fuelled by Robust Economic Growth In 2016, the Philippines recorded an impressive economic growth rate...
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