Philippine Attraction Expo 2024
PAExpo2024
Philippines - fastest growing economy in Southeast Asia.
The Philippines will remain the fastest growing economy in the Association of Southeast Asian Nations. The Philippinie Statistics Authority announced that its GDP was 5.6% higher than the projections of the Asian Development Bank.
IHS Markit, a global data and financial forecaster, predicted that the Philippine economy would grow strongly in 2022 at the Economic Outlook Briefing held by the Board of Investments on 26 January 2022. Rajiv Biwas, Executive Director of IHS Markit and APAC Chief Economicist, believes that 2022 will see a global recovery with a 7% growth in GDP for the Philippines, thanks to brisk domestic demand. He said, "The growing size of the Philippine consumer market will be the key factor in improving the attractiveness the Philippines' economy over the next decade."
In 2021, the Philippines will have a total population of 112.5 million. Of this number, 12% live in Metro Manila. The Philippines' population will be 112.5 million in 2021, with 12% of that number living in Metro Manila. The country is still considered to have a young population. The Philippine economy is growing, and households are spending more money on cultural activities and recreation.
Citizens' incomes have increased as the economy of the country is growing at the fastest rate among ASEAN nations. More households are spending on Recreation and cultural activities. Total expenditure estimates have increased from US$3.92 billion in 2017 to US$5.90billion in 2019. The Covid-19, however, has reduced the estimate to US$3.42 in 2021 because of the many lockdowns and stay at home orders issued by Task Force. The projected total expenditure is expected to reach US$6 billion by 2024, as the pandemic becomes endemic.
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Pasay - World Trade Center Metro Manila, Metro Manila, Philippines Pasay - World Trade Center Metro Manila, Metro Manila, Philippines
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