[QODLink]
Asia-pacific

Philippine economy flourishes

Despite volatile economic conditions in Asia, the economy in the Philippines continues to grow.
Last Modified: 01 Dec 2012 04:49

Growth figures in the Philippines have exceeded expectations and investor confidence is up, but this progress has meant little to the average Filipino.

There are now over ten million Filipinos working abroad, and they are considered national heroes.

The money they send home to support their families helps keep the Philippine economy afloat, along with the influx of international call centres, expanding exports, and a tourism boom.

But success has created an unusual problem for the Philippines; a strong local currency.

Al Jazeera's Marga Ortigas reports from Manila.

88

Source:
Al Jazeera
Topics in this article
People
Country
City
Featured on Al Jazeera
The author argues that in the new economy, it's people, not skills or majors, that have lost value.
Colleagues of detained Al Jazeera journalists press demands for their release, 100 days after their arrest in Egypt.
Mehdi Hasan discusses online freedoms and the potential of the web with Wikipedia founder Jimmy Wales.
A tight race seems likely as 814 million voters elect leaders in world's largest democracy next week.
Featured
Since independence, Zimbabwe has faced food shortages, hyperinflation - and several political crises.
After a sit-in protest at Poland's parliament, lawmakers are set to raise government aid to carers of disabled youth.
A vocal minority in Ukraine's east wants to join Russia, and Kiev has so far been unable to put down the separatists.
Iran's government has shifted its take on 'brain drain' but is the change enough to reverse the flow?
Deadly attacks on anti-mining activists in the Philippines part of a global trend, according to new report.
join our mailing list