In a recent World Bank Doing Business Report, an annual study that measures the ease of doing business in countries around the globe, the Philippines landed at the 99th spot with a Distance to Frontier Score of 60.40. The report covered 189 economies.
The Philippines’ economy, closing the 4th quarter of 2016 at a staggering 6.6% economic growth, is primarily driven by its Information Technology-Business Process Outsourcing (IT-BPO) industry, is well-poised as a leader in the global industry. The government and BPO stakeholders project the BPO industry’s total income range to reach $40 to $55 billion by 2020.
Due to its IT-BPO industry’s continued growth and promising prospects, the industry, as of today, has spawned bustling business districts throughout the country. The government has also played an active role in improving the country’s infrastructure and relaxing constraints to doing business in the country.
It is, therefore, good for business to take advantage of the Philippine’s continuing growth. As a guide, here are the major business centers in the Philippines businesses should check out.
Makati Central Business District
Makati Central Business District (Makati CBD) is also called the “Central Cluster”. It houses most of the country’s leading firms and Asia’s most popular commercial areas. Makati CBA is managed by the Makati Commercial Estate Association (MaCEA) and the Ayala Property Management Corporation (APMC). Makati CBD is the premier business district of the country.
Ortigas Business Center
The Ortigas Business Center is located at the boundaries of cities of Mandaluyong and Pasig. It is a commercial area along the Epifanio Delos Santos Avenue. The business center houses the Asian Development Bank headquarters, SM Megamall, and San Miguel Brewery among others.
Bonifacio Global Cit
Bonifacio Global City (also known as The Fort) is the financial center of Taguig City. The Fort has become one of the fastest growing business districts in the county in recent years. It’s growth is promising enough that it might overtake Makati City as the premier central business district (CBD) of the country.
Pasay City is home to one of the largest malls in the world, the SM Mall of Asia. It also houses prominent casino hotels, entertainment, and key government centers like the Department of Foreign Affairs, the Cultural Center of the Philippines, and the World Trade Center among others. Pasay was one of the first urban centers of the Philippines.
Quezon City, or the Triangle Park to be precise, is one of the three existing main business districts of Quezon City. The others are Eastwood City in Libis and Araneta Center in Cubao. The Triangle Park is a mixed-use Central Business District Development located in Diliman, Quezon City.
Metropolitan Cebu is a highly competitive and robust economy. With over 20 IT parks and 9 economic zones currently operating in the metro, Cebu is poised globally as a highly capable business center. Cebu is also a popular tourist destination.
Metropolitan Davao is one of the largest local economies in the Philippines. It is known as the “Crown Jewel of Mindanao” due to its robust economy.
The Philippines is among the fastest growing economies in Asia, closing 2016 at a 6.6% economic growth rate. Its emerging business centers, significant government support and investment in the BPO industry, are great indicators of a positive business outlook for the country. For businesses, as well as their recruitment firms in the country, it is desirable to take advantage of this growth.
Lee, Don. 2015. “The Philippines Has Become The Call-Center Capital Of The World”. Latimes.Com. Accessed January 26 2017. http://www.latimes.com/business/la-fi-philippines-economy-20150202-story.html.
Arie Y. Lewin, “Global Sourcing of Business Services: Key Findings and Trends from ORN Research” (paper presented at the International Association of Outsourcing Professionals’ 2012 Outsourcing World Summit, Orlando, February 2012)
“The Philippines – Poised For Growth Through BPO”. 2017. Trendline.Dcrworkforce.Com. Accessed January 17 2017. http://trendline.dcrworkforce.com/the-philippines-poised-for-growth-through-bpo.html.
Council, National. 2017. “Rankings | Cities And Municipalities Competitiveness Index”. Competitive.Org.Ph. Accessed January 26 2017. http://www.competitive.org.ph/cmcindex/pages/rankings/
“National Competitiveness Council”. 2017. Competitive.Org.Ph. Accessed January 26 2017. http://www.competitive.org.ph/.
Council, National. 2017. “Home | Cities And Municipalities Competitiveness Index”. Competitive.Org.Ph. Accessed January 26 2017. http://www.competitive.org.ph/cmcindex/.
“Businessworld | NEDA Statement On Philippines’ Q4 2016 GDP Growth “. 2017. Bworldonline.Com. Accessed January 26 2017. http://www.bworldonline.com/content.php?section=TopStory&title=neda-statement-on-philippines-q4-2016-gdp-growth&id=139679.