Tag: gross domestic product (GDP)

Philippines Economic Growth May Fall Behind Southeast Asian Neighbors

Philippines Economic Growth May Fall Behind Southeast Asian Neighbors

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In the latest economic analysis of Bank of America (BofA), the Philippines may end up behind its Association of Southeast Asian Nations (ASEAN) neighbors in terms of economic growth, and it could also mark another year of failing to hits is growth target, according to a report by BusinessWorld.

This is not surprising as the Philippines did not benefit economically from hosting the ASEAN Summit while it endured high inflation, weak gross domestic product (GDP) growth and lower foreign direct investment (FDI) inflows this year.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

THE PHILIPPINE ECONOMY may be among the slowest growing in Southeast Asia this year, as weak domestic demand keeps growth below its potential, Bank of America (BofA) said.

In a report dated Sept. 8, BofA Global Research kept its gross domestic product (GDP) forecasts for the Philippines at 2.5% in 2026 and 3.5% in 2027.

For 2026, this projection puts the Philippines on par with Thailand as the slowest-growing economies among the Association of Southeast Asian Nations (ASEAN) members included in the report.

The two countries are expected to trail Vietnam (8.2%), Indonesia (5.3%), Malaysia (5.2%), and Singapore (5.1%) this year. If BofA’s forecasts hold, the Philippines will miss its growth target for five straight years. Economic managers are targeting 3.5%-4.5% GDP growth this year and 5%-6% in 2027-2030.

“In second half of 2026, we see GDP growing 2.5% with gentle gains in consumption and the bottoming of investment spending,” BofA China & Asia Economist Helen Qiao and Asia Economist Ting Him Ho said.

“Government spending may help mitigate the effects of the oil shock by aiming subsidies at consumer and transport groups most affected,” they added.

The Philippine economic growth slumped to a post-pandemic low of 2.3% in the second quarter, bringing first-half growth to 2.6%. Economic managers said that last year’s flood control corruption scandal continued to weigh on public construction and investments, while the Middle East war-driven energy shocks dampened household spending.

“Domestic demand grew only 0.9% in 2Q26 with net trade providing the lift to overall GDP,” the BofA economists also noted. “Within domestic demand, private consumption slowed, investments shrunk, and government spending was unable to fully cushion.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines will continue to be the economic weakling of ASEAN this year? Has the weak economic growth of the Philippines affected you in many ways?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

American Funding Aims to Turn Subic Bay Port into Gateway for planned AI Industrial Hub

American Funding Aims to Turn Subic Bay Port into Gateway for planned AI Industrial Hub

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In a serious bid to encourage more investments into the Philippines, the United States of America will be providing financial support for feasibility studies on the proposed expansion of the facilities at the port of Subic Bay as well as the establishment of public WiFi access points in key locations, according to a Manila Bulletin news report. These developments point to turning the Subic Bay port into a key gateway for the planned artificial intelligence (AI) industrial hub while improving WiFi access with the nation in mind.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

The United States (US) is providing funding support for feasibility studies on the proposed expansion of port facilities at Subic Bay and the establishment of public WiFi access points in a bid to encourage more investments into the Philippines.

The US Trade and Development Agency (USTDA) said on Thursday, Sept. 10, that it will provide a grant to ship repair firm Subic Drydock Corp. (SDC) for a feasibility study to advance the expansion of a key port ship repair facility.

SDC will secure the services of a California-based engineering consulting firm to conduct the study, according to the USTDA.

The study is expected to support the technical and engineering design to expand SDC’s existing berth within the Subic Bay Freeport Zone to accommodate larger vessels.

The expanded capacity will help meet the growing demand for ship repair and maintenance services, reinforcing Subic Bay’s strategic role in the Luzon Economic Corridor (LEC).

Subic Bay is one of four major economic hubs within the LEC that is set to play a critical role in the corridor’s economic development.

Established by the Philippines, US, and Japan, the LEC intends to enhance connectivity between Subic Bay, Clark, Manila, and Batangas, which account for approximately 50 percent of the country’s gross domestic product (GDP).

Earlier, the Port of Subic Bay was designated as the “preferred maritime gateway” for the planned artificial intelligence (AI) industrial hub in New Clark City.

The port is expected to handle the import, export, handling, storage, and transport of the inputs necessary to support the advanced manufacturing operations in the industrial hub.

Meanwhile, the USTDA will also provide a funding grant to Uy-led ComClark Network and Technology Corp. for the proposed creation of a nationwide network of public WiFi access points.

ComClark has selected California-based advisory services firm Connectivity Capital LLC to conduct the feasibility study, the agency said.

The study covers the pilot implementation of AI-enhanced WiFi access points at six sites to determine market demand, technical requirements, commercial feasibility, and financial projections.

The USTDA said the findings of the study would help lay the groundwork for a potential deployment of the access points at nearly 8,000 locations by 2030, which is expected to widen access to reliable connectivity in the country.

USTDA Deputy Director Thomas Hardy said funding support for the two feasibility studies helps reinforce the US’ commitment to supporting the Philippine government’s and private sector’s infrastructure priorities.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you welcome the American funding for the Subic Bay port facility improvements as well as the enhancement of public WiFi access? What is your opinion about the economic potential of the Luzon Economic Corridor?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

Philippines GDP Growth Unlikely To Reach 6% In Medium Term

Philippines GDP Growth Unlikely To Reach 6% In Medium Term

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Several economic factors and the continued vulnerability to climate-driven shocks make it unlikely for the Philippines to achieve gross domestic product (GDP) growth of 6% in the medium term, according to a news report by BusinessWorld citing Moody’s Ratings.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

MOODY’S RATINGS said the Philippines’ medium-term growth outlook seems bleak as its slow  investment recovery and vulnerability to climate-driven shocks may derail its economic rebound.

In a statement following its latest rating action on the Philippines, the debt watcher said the country’s gross domestic product (GDP) growth is expected to hover below its pre-pandemic level of around 6% over the medium term.

“The Philippines’ medium-term growth will continue to be underpinned by favorable demographics, resilient remittances and service exports, and a gradual strengthening of investment as confidence recovers, with electronics and other goods exports providing a more marginal offset,” Moody’s Ratings said late on Monday.

“Even so, we expect medium-term potential to settle somewhat below the near-6% pace recorded before the pandemic, as investment recovers only gradually and the economy remains exposed to recurrent natural disasters and climate-related shocks,” it added.

Moody’s slashed its Philippine GDP growth forecast for this year to 3.6% from 5.5%. This falls near the bottom end of the government’s 3.5%-4.5% target for the year.

In the second quarter, GDP growth tumbled to a new post-pandemic low of 2.3%, bringing average growth to 2.6% in the first half.

The fourth consecutive quarter of slowing growth came as investments continued to reel from last year’s flood control corruption scandal, while rising prices amid the Middle East war squeezed household spending.

Moody’s Ratings noted that the Middle East war shocks and investment slump are “largely cyclical,” with an investment-driven recovery expected later this year.

“The recovery from the second half of 2026 should be led by a rebound in public investment as the government resumes stalled disbursements and normalizes spending execution,” it said.

Moody’s Ratings said that local investments should focus on public infrastructure and public-private partnerships, especially in renewable energy “as the country diversifies its energy mix in response to the recent shock.”

The government’s recent reforms should also eventually boost investment and productivity as their benefits are realized, the debt watcher said.

These include the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, foreign investment liberalization, and allowing more private and foreign participation in sectors such as renewable energy.

By 2027, Moody’s Ratings expects GDP to expand by 5.3%, although still slower than its previous estimate of 5.6%.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the economy of the Philippines really does not have enough strength to achieve 6% GDP growth anytime soon? Do you think the current economic managers know what they are doing? Do you think there will absolutely be no economic gains from the Philippines’ hosting of the 2026 ASEAN Summit?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines 2026 Foreign Tourist Arrivals Reach 4.11 Million as of August, U.S. and South Korea Remain Top Markets

Philippines 2026 Foreign Tourist Arrivals Reach 4.11 Million as of August, U.S. and South Korea Remain Top Markets

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With the Peso performing terribly in the global currency market, weakening economic growth, high inflation and fears of an economic recession growing, 2026 has not been good for the Philippines. There is a bright spot in tourism, however, as the Philippines saw its 2026 foreign tourist arrivals reach 4.11 million in the January-August period and the United States and South Korea combined for more than 1.5 million tourist arrivals, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

The Philippines has recorded 4.11 million foreign arrivals from January to August, higher by 3.7 percent compared to the same period last year, the Department of Tourism (DOT) said on Tuesday.

The United States posted the highest number of share at 818,318, followed by South Korea at 727,379, Japan at 350,191, China at 310,088, and Australia at 234,156.

Also making it in the top 10 source markets are Canada with 231,972, Taiwan with 154,957, the United Kingdom with 132,370, Singapore with 126,812, and India with 77,883.

Tourism Secretary Dita Angara-Mathay said the Philippines targets to surpass its 2025 arrival figures to reach between 6.4 million and 6.8 million, or at least 7 million, by the end of 2026.

To achieve this, she said the DOT is intensifying its branding and promotions to reach more tourists in its key source markets.

The DOT is also in active talks with airlines to open up and establish more chartered flights between the Philippines and secondary cities of Korea and China.

DOT Assistant Secretary Ren Sapitan said the agency is also set to sign a contract with a creative agency in November to broaden the country’s marketing efforts and make the Philippines more visible worldwide.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines will be able to exceed the 2025 foreign tourist arrivals number by the end of this year? Do you think the DOT is doing a good job to strengthen the Philippines’ attraction of foreign tourists? Considering the Top 10 markets of foreign tourists the Philippines attracted so far, are you convinced that the nation’s hosting of the Association of Southeast Asian Nations (ASEAN) Summit did not create any positive tourism results?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Moody’s Analytics Cuts Philippines 2026 GDP Growth Forecast to 3%

Moody’s Analytics Cuts Philippines 2026 GDP Growth Forecast to 3%

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By citing key factors like weak consumption, Middle East oil shock and the collapse in private investment, Moody’s Analytics officially slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3%, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

MOODY’S ANALYTICS slashed its 2026 growth forecast for the Philippines, amid weak consumption and a collapse in private investment.

In its latest Asia-Pacific Outlook report dated Aug. 24, the analytics firm said it now sees Philippine gross domestic product (GDP) expanding by 3% this year, slower than its 4% projection in June.

“We lowered our 2026 GDP growth forecast to 3% from 4% in the June vintage after incorporating the second-quarter GDP result, which was far weaker than expected,” Moody’s Analytics Assistant Director and Economist Sarah Tan said in an e-mailed reply to questions.

The Philippine economy slumped to its worst post-pandemic growth of 2.3% in the April-to-June period, as investments and public construction continued to reel from last year’s flood control corruption scandal. Rising prices from the Middle East war-driven oil shock also strained household spending.

“The economy expanded by just 2.3% year on year, with private consumption showing notable weakness and private investment collapsing,” Ms. Tan noted. “This points to softer underlying domestic demand than we had previously anticipated.”

As of the first half of 2026, the country’s GDP growth averaged 2.6%, well below the government’s 3.5%-4.5% full-year target.

If Moody’s Analytics’ forecast holds true, the government will miss its growth target for a fourth year in a row. The economy would also further soften from last year’s post-pandemic low growth of 4.4%.

Economists earlier said that reaching even the bottom end of the government’s target entails a steep climb, as it means the economy must grow by at least 4.4% in the second half.

Moody’s Analytics sees growth recovering over the next two years to 4.6% in 2027 and 5.1% in 2028. The government wants full-year expansion to be between 5% and 6% from 2027 to 2030.

Meanwhile, GlobalSource Partners Country Analyst Diwa C. Guinigundo noted that the Philippines could face a more complicated path toward fiscal consolidation if growth remains below potential.

“Slower growth would make fiscal consolidation and debt reduction more difficult,” he said in a Viber message. “The issue is not simply that government revenues would grow more slowly; a weaker economy also means a smaller denominator for the debt-to-GDP ratio.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think 2026 will end up as a very disappointing year of economic growth for the Philippines? Do you think the economy of the Philippines could still fall into a recession in 2027 or in the first half of 2028? Are you convinced that the Philippines has nothing to gain economically from hosting the ASEAN Summit?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Attracts FDI Worth $210 Million in May 2026

Philippines Attracts FDI Worth $210 Million in May 2026

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The Philippines, which hosted the summit of the Association of Southeast Asian Nations (ASEAN) and other related conferences, failed once again on attracting significant foreign direct investment (FDI) as the May 2026 FDI net inflow was counted at $210 million only making it the lowest in eleven years, according to a news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Foreign direct investment (FDI) net inflows into the Philippines plunged to $210 million in May, the lowest monthly total in more than 11 years as global economic volatility and geopolitical tensions prompted foreign companies to delay capital commitments.

According to the latest data from the Bangko Sentral ng Pilipinas (BSP), released on Monday, Aug. 10, the May figure represents a 64.7 percent contraction from the level recorded in May 2025 and falls below the previous record low of $200.43 million seen in March 2015.

The sharp monthly drop dragged total net inflows for the first five months of 2026 to $2.18 billion, a 33.4 percent decline from the $3.27 billion recorded in the same period last year.

According to the BSP, the cumulative decline was “driven by lower foreign net investments in debt instruments and reinvestment of earnings, which more than offset the increase in net equity capital investments (other than reinvestment of earnings).”

The central bank added that this trend “reflected lower intercompany borrowings from foreign direct investors and reduced earnings retained for reinvestment during the period.”

Among its components, the primary driver of the May shrinkage was the sharp fall in net investments in debt instruments, which tumbled 92.1 percent to $35 million from $440 million a year earlier.

As of end-May, debt instruments—which “consist mainly of intercompany borrowing or lending between foreign direct investors and their subsidiaries or affiliates in the Philippines”—totaled $1.25 billion, dropping by nearly half from the $2.48 billion recorded in 2025.

This five-month performance follows a challenging 2025, during which annual net inflows plunged to $7.79 billion from $9.40 billion in 2024. The BSP forecasts inflows to clock in lower at $7 billion before rebounding to $8 billion in 2027.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think hosting the ASEAN Summit will lead the Philippines to economic miracles and stronger FDI in the near future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Attracts 3.7 Million International Visitors in First 7 Months of 2026

Philippines Attracts 3.7 Million International Visitors in First 7 Months of 2026

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The Philippines, which has been struggling with weak economic growth and high inflation, attracted 3.7 million international visitors in the first 7 months of this year, according to a news report by BusinessWorld.

Be mindful that the words “international visitors” includes both foreign tourists as well as Filipinos who are based abroad who happened to return to the country as “balikbayan”. For insight, the Philippines attracted 5.9 million foreign tourists in 2025 plus over half-a-million Filipinos from overseas which combines for 6.4 million international visitors for the year. For the first half of 2026, the nation attracted 2.9 million foreign tourists.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

The number of Philippine international visitors grew to around 3.7 million as of July, buoyed by more relaxed visa policies, with growing markets seen in China, India, and Taiwan, according to the Department of Tourism (DoT) on Friday.

DoT Undersecretary Verna Esmeralda C. Buensuceso cited the figure, noting a 4.25% increase in  tourist arrivals compared to last year.

“From January to July this year, the Philippines welcomed approximately 3.7 million international visitors, representing a 4.25% increase in visitor arrivals compared to the same period last year,” Ms. Buensuceso said during the launch of the 4th Travel Sale Expo 2026.

“We are seeing good growth from markets like China at 67%, India at 34%, and Taiwan at 11.21% growth, buoyed in large part by more liberal visa policies,” she added.

The tourism Undersecretary also noted sustained growth trajectories from the country’s traditional foreign markets such as the United States of America, Canada, and Japan, driven by additional flights.

The country is also experiencing double-digit to triple-digit growth in international arrivals from our Southeast Asian peers, such as Indonesia, Vietnam, Myanmar, Cambodia, Laos, and Timor-Leste, due to the ongoing ASEAN Summit 2026 where the Philippines serves as the host country.

“These are encouraging signs, but let me emphasize that our goal is not simply to increase the number of arrivals,” Ms. Buensuceso said.

“Our real goal is to increase the value of tourism. We want tourism to create more jobs, attract more investments, and generate more opportunities that reach communities across the country,” she added.

The tourism industry contributed 8.1% to the country’s gross domestic product (GDP) in 2025, down from 8.7% in the previous year, according to the Philippine Statistics Authority (PSA). It also employed around 7.70 million Filipinos in 2025.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DOT is padding the numbers on tourist arrivals to avoid embarrassment in the near future? Do you think the Philippines will be able to surpass 2025’s 5.9 million foreign tourist count by the end of this year? Do you believe that hosting the ASEAN Summit is actually helping the Philippine attract more tourists from its Southeast Asian neighbors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Economic Weakness Continues As 2nd Quarter GDP Growth Lands At 2.3%

Philippines Economic Weakness Continues As 2nd Quarter GDP Growth Lands At 2.3%

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The economy of the Philippines slowed down even further in the 2nd quarter of 2026 landing at 2.3%, according to a news report by GMA News. Embarrassingly, this made the Philippines an economic weakling among the members of the Association of Southeast Asian Nations (ASEAN).

By comparison, the economy of the Philippines achieved only 2.8% growth in the 1st quarter of this year. The nation’s economic growth for 2025 was at 4.4%

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

The Philippine economy continued to slow down in the second quarter of 2026, still due to a subdued investor and consumer sentiment amid the lingering effects of the flood control corruption scandal and the inflationary pressure brought by Middle East crisis-induced global fuel price shocks, the Philippine Statistics Authority (PSA) reported on Friday.

At a press conference, PSA chief and National Statistician Claire Dennis Mapa said the economy, as measured by gross domestic product (GDP)—the value of goods and services produced in a period— grew 2.3% in the April to June 2026 period, slower than the 2.8% growth seen in the first quarter of 2026.

This is the economy’s weakest footing since the fourth quarter of 2009 —excluding the contraction seen during the COVID-19 pandemic years— when the GDP growth rate was at 1.8%.

The 2.8% second quarter GDP growth put the Philippines behind its neighbors in Southeast Asia that already released their April to June economic growth rates such as Indonesia at 5.29%, Vietnam at 8.39%, and Singapore at 5.7%.

The first half of 2026 GDP growth rate stood at 2.6%, still behind the government’s downwardly revised target of 3.5% to 4.5% for the entire year.

Despite the economic slowdown, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said, “What we are experiencing right now, I believe, is transitory, temporary.”

“Domestic demand remained subdued, mainly because total investment continued to contract as public construction declined. Household consumption growth also moderated amid higher inflation, job losses, and lower remittance receipts arising from the Middle East conflict,” Balisacan said.

Household final consumption expenditure grew 2.8%, slower than 5.2% in the same period last year, weighed by contractions in transport (-7.5%), alcoholic beverages and tobacco (-1.9%), recreation and culture (-0.8%), and restaurants and hotels (-0.2%).

Government expenditure, likewise, slowed down by 8.3% from 8.7% year-on-year; while gross capital formation (GCF) —which measures investments— contracted by 9.2% from a growth rate of 0.9% a year ago.

The decline in GCF was due to the decline in construction at 14.8% with government spending on construction contracting 32.4%.

“Although public construction is a small part of the economy, the amount of contraction, at 32%, brought a significant impact on the economy,” Balisacan said.

“The sharp decline in public construction was the main contributor in the decline in investments… driven by continuous caution due to the flood control scandal,” the country’s chief economist said.

Among the major economic sectors, agriculture posted a growth rate of 2.7%, slower than 7% year-on-year; industry declined by 2.4%, from an increase of 2.1% weighed by the construction’s depreciation; services grew slower at 4.5% from 6.9%.

Agriculture, industry, and services sector contributed 7.5%, 27.9%, and 63.3%, respectively to the total GDP during the quarter.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will eventually fall into a recession in 2027? Do you believe that the hosting of the ASEAN summit by the Philippines will result in economic miracles and more foreign investment?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Electricity The Most Expensive In ASEAN

Philippines Electricity The Most Expensive In ASEAN

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Due to the low supply of electricity and the high demand recorded this past June, the Philippines had the most expensive electricity rates among member nations of the Association of Southeast Asian Nations (ASEAN), according to a news report by GMA News.

Be reminded that the Philippines is experiencing weak economic growth, high inflation, and has been weak when it comes to attracting foreign direct investment. Could imagine how foreign investors would react to the expensive electricity here in the Philippines?

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

The Philippines had the most expensive electricity rates among the Association of Southeast Asian Nations (ASEAN) in June due to low supply and high demand recorded during the month, the Department of Energy (DOE) reported Monday.

According to DOE Undersecretary Rowena Cristina Guevara, the country reported an average rate of P12.43 per kilowatt-hour (kWh) in June, surpassing that of Singapore by P0.093 per kilowatt-hour.

“Sa Visayas, siya talaga ‘yung pinakamahal dahil talagang may kakulangan tayo sa supply doon. Meron tayong 21 plants na naka-forced outage and therefore, dependent siya talaga sa Luzon at sa Mindanao for imported power,” she said in a virtual briefing.

(Visayas was really the most expensive because there was really a lack of supply there. There are 21 plants on forced outage, and therefore, it is really dependent on imported power from Luzon and Mindanao.)

“Alam niyo naman, naka-yellow alert sila palagi (As you know, they have been on yellow alert regularly) since May 13, and that is the one that is driving the price high for Visayas,” she added.

The Visayas grid has been on yellow alert — indicating that the operating margin is insufficient to meet the transmission grid’s contingency requirement — for several days in June, due to the continued forced outage of major coal plants in the region.

Among the outages recorded were Therma Visayas Inc. (TVI) units 1 and 2 and Panay Energy Development Corp. (PEDC).

“For the rest… Meron kasi din tayong mga matataas na demand during the summer months, and therefore we have to operate the more expensive power plants. Imbes na mag-blackout, paandarin na lang ‘yung mga medyo mahal na plant,” Guevara said.

(For the rest… Demand was also high during the summer months, and therefore, we have to operate the more expensive power plants. Instead of blackouts, we ran more expensive plants.)

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think must be done to ensure abundant electricity for the Filipinos? Are you convinced now is the time for the government of the Philippines to go all-in on nuclear power? How much was your electric bill this past June?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Attracts 2.9 Million Foreign Tourists In First Half Of 2026

Philippines Attracts 2.9 Million Foreign Tourists In First Half Of 2026

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For the first half of this year, the Philippines attracted 2.9 million foreign tourists and 1.13 million of that came from the United States and South Korea combined, according to a news report by Business Mirror. The figure does not include the 260,717 overseas Filipinos or balikbayan.

When compared to its Asian neighbors’ first-half foreign tourist numbers, the Philippines is still way behind Vietnam which attracted 12.3 million and Japan which attracted 21 million.

To put things in perspective, posted below is an excerpt from the Business Mirror report. Some parts in boldface…

MORE relaxed visa entry requirements have enabled the Philippines to attract an increasing number of foreign tourists, lifting total visitor arrivals by 5.41 percent in the first half of the year.

Data from the Department of Tourism (DOT) showed 3.16 million inbound tourists from January to June 2026, of which 2.9 million were foreign nationals and 260,717 were overseas Filipinos. The latter are described as Philippine passport holders permanently residing abroad. This year’s arrivals are 76.5 percent of the 4.13 million total in the first half of prepandemic 2019.

The DOT stressed that the data are based on e-travel records provided by the Department of Information and Communications Technology, and are not final until Bureau of Immigration records are taken into account. E-travel registration is mandatory for those arriving in the Philippines except foreign diplomats, dignitaries, foreign government officials and their delegation, visiting business executives and students  sponsored by the Philippine  government or international organizations, and their immediate family members (9e visa).

Of the total foreign nationals, which were up 6.3 percent from the 2.73 million year on year (yoy), tourists from China and India were the most improved by 64.54 percent and 43 percent, respectively. Residents from both countries have been allowed to enter the Philippines visa-free for tourism purposes for 14 days.

The top 12 source markets of visitors for the Philippines all recorded increases, except for South Korea, with long-haul markets like Germany even showing monthly increases yoy, despite the ongoing tensions in the Middle East, which had jacked up jet fuel prices.

S. Korea plunges 13.7% – The United States continues to be the top source market for the Philippines with arrivals at 581,565 in the first half of the year, an increase of some 6.9 percent from the same period in 2025. Most of the market continues to be composed of Americans of Filipino decent, or Filipino immigrants, who visit the Philippines usually during the holiday season in December and January.

Some 300 Filipino-Americans are currently in the country as part of government’s long-running Very Important Pinoy (VIP) tour, and visiting destinations other than Metro Manila such as Cebu, Dumaguete, and Siquijor.

In second place are tourists from South Korea at 552,860, slumping by 13.7 percent, yoy. This was followed by Japan at 581,565 (+6.87 percent); China at 219,796 (+64.54 percent); Australia at 174,257 (+12.3 percent); and Canada at 156,763 (+15.6 percent), another haven of Filipino immigrants. Air Canada began offering direct flights from Vancouver to Manila in April last year, while flag carrier Philippine Airlines offers nonstop flights between Manila and Vancouver, and Toronto.

Tourists from Taiwan were in seventh place at 111,134, an increase of 11.85 percent; folowed by the United Kingdom at 92,829 (+1.7 percent); Singapore at 78,069 (0.35 percent); India at 60,583 (43.03 percent); Malaysia at 53,437 (+11.5 percent); and Germany at 48,657 (+6.9 percent).

Under the General Appropriations Act of 2026, the DOT committed to attract 6.7 million foreign tourists this year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines will be able to attract 6.7 million foreign tourists by the end of this year? What do you think are the three most serious problems the Philippines has when it comes to attracting foreign tourists?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco