The Philippine economy is dominated by the service sector, which contributed approximately 56.9% to the total GDP in 2015. Real estate and trade of motors and vehicles contributed 11% and 16.7% respectively to the service sector. The Philippines significantly relies on its IT-BPO sector, which contributed revenue of 7.35% and remittances inflow of 7.63% in 2015. The Philippines has undertaken various reforms, which has led to economic liberalization of the country. The government’s structural reform in infrastructure and the telecom sector is anticipated to support high growth of the economy. IT-BPO sector is expected to remain the major economic driver in the coming years.
Lucintel, a leading global management consulting and market research firm, has analysed the political, economic, social, technological, legal, and environmental factors of the Philippines and has come up with a comprehensive research report, “PESTLE Analysis of the Philippines 2016”. This report provides an analysis of the Philippine economy from historical, current, and future perspectives. SWOT analysis, scenario analysis, and risk analysis of the Philippines are also included in the report. The report also includes the forecast for the economic growth of the Philippines through 2021.
The report highlights various drivers and challenges, which have influenced investment decisions in the economy. The Philippines is a politically stable country. Manila is the 2nd largest destination for IT-BPO and the 4th largest recipient of remittances in the world. The country has a strong current account surplus and high foreign reserves. The Philippines is an archipelago located in place which is prone to earthquake and volcanos. The Philippines frequently faces problems with the occurrence of natural disasters, such as flood, typhoons, and destructive earthquakes, which is one of the main challenges, as it directly affects the country’s GDP. Another challenge for the Philippines is low R&D investment.

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