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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.

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Source:
Al Jazeera
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