The country has been known to be exporting its own
labor force to fill the need of the different countries in the world, from our
world class nurses, engineers, seafarers and of course who will forget our
over qualified and English speaking, and college graduate domestic helpers, the
country provides the labor the world needs.
But lo and behold, its ironic in a survey recently
conducted by 2019 HSBC Expat’s
annual survey, the Philippines under the leadership of President
Rodrigo Roa Duterte scored high, so high that it even outranked China.
The Philippines jumped up the rankings from 26th
to 24th best place to live and work, just behind the US, which ranked
23rd, and ahead of China, which ranked 26th.
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| Pres. Rodrigo Duterte (photo credit to owner) |
Us Professor on Economics
Panos Mourdoukoutas, of Forbes.com wrote an article about the Philippiies under
the Duterte administration being one of the best places to live and work for
expats. The article titled: “Duterte's Philippines Among The Best Places
To Live And Work, Ahead Of China”
"The Philippines jumped up the rankings from 26th
place last year.
That may come as a surprise to some for a couple of
reasons. One of them is that the Philippines has a reputation for sending its
own people overseas in droves rather than attracting foreigners who want to
live and work there.
The other reason is that the country is mired in
violence, which has taken a huge human toll.
Apparently, that isn’t what foreign expats are
concerned about. They find it easy to relocate to a country of friendly people
and a reasonable cost of living. “With its tropical climate and steadily
growing economy, the Philippines is quickly becoming one of the most popular
expat destinations in Southeast Asia, “ says the report."
For
purposes of understanding and for the information of the public at large we are
quoting in full the said article below:
Duterte's Philippines Among The Best Places
To Live And Work, Ahead Of China
Philippines has been ranked 24th best
place to live and work, just behind the US, which ranked 23rd, and ahead of
China, which ranked 26th.
That’s according to the 2019 HSBC Expat’s
annual survey, which is based on responses from more than 18,000
expats across 163 markets on three metrics: living, career opportunity, and
family life.
The Philippines jumped up the rankings from 26th place last
year.
That may come as a surprise to some for a couple of reasons. One
of them is that the Philippines has a reputation for sending its own people
overseas in droves rather than attracting foreigners who want to live and work
there.
The other reason is that the country is mired in
violence, which has taken a huge human toll.
Apparently, that isn’t what foreign expats are concerned about.
They find it easy to relocate to a country of friendly people and a reasonable
cost of living. “With its tropical climate and steadily growing economy, the
Philippines is quickly becoming one of the most popular expat destinations in
Southeast Asia, “ says the report.
Indeed, the Philippines economy has been booming in recent
years. The Philippines’ per-capita GDP was last recorded at an all-time
high of 3,063 U.S. dollars in 2018, according to Tradingeconomics.com.
And it’s expected to reach $3,277 by 2020. That’s well above the average of
$1,653.98 for the period 1960-2018.
Filipinos are doing better in recent years when per-capita GDP
is adjusted by purchasing power parity (PPP). That measure, too, reached a
record 7,599.19 U.S. dollars in 2018, well above the average of $4969.71 for
the period 1990-2018.
Meanwhile,
a recent McKinsey Global Institute (MGI) study places
the Philippines among the few emerging market economies that are well-prepared
to achieve sustained growth over the next decade.
That's thanks to a rise in gross fixed-capital formation
(investment).
Still, the Philippines’ per-capita GDP is equivalent to 23% of
the world's average, which makes Filipinos poor.
Meanwhile, the results of the expats survey should be interpreted
with extreme caution. People surveyed are usually more affluent and better
educated than the average immigrant, and they are on short assignments. This
means that an overseas assignment may be seen as an “adventure.”
And the Philippines is a good place for that, better than China,
as other surveys confirm.
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