PHILIPPINES – Media OutReach – 28 August 2020 – With a young population learning to be entrepreneurs (average of 24.4 years old with high digital penetration) the technology and digital sectors in the Philippines are well-placed to create employment opportunities for the upcoming generation of working professionals. International executive search firm, Michael Page remains optimistic about the untapped potential in Filipino talent as they open their sixth office within the South East Asia region here in Manila.
“Looking at industries in the Philippines with high growth potential in the next few years, it is clear why the economy is well-poised for recovery. Manufacturing, including supply chain and 3PL is a major growth area, and the consumer market, despite the lockdown and other challenges, has remained robust. This includes retail, food and beverages and fast-moving consumer goods,” observes Olly Riches, Board Director at Michael Page South East Asia.
Resilient and hardworking, the workforce in the Philippines is one of the biggest assets the country has. Among professionals in the workforce, there is a large population of bilingual English-speaking professionals and a large number of university graduates.
“There is interest in doing business in the Philippines due to the very strong talent here. We produce a lot of technical experts, such as engineers and healthcare professionals, among other skilled professionals. As a result, more MNCs are being drawn to investments and local conglomerates are tapping into expansion opportunities within the country for years to come,” says Carla Lastimosa, Director of Michael Page Philippines.
“We are seeing more overseas Filipino professionals returning home to the Philippines to continue building their careers. This has created increased confidence in local employers of a healthy rebound for the economy,” Carla Lastimosa observes.
In view of this rising trend and by leveraging the Michael Page global network, we have also contributed our local knowledge by attracting top talent and investment back to the Philippines. The launch of our Bayanihan Tulay sa Tagumpay campaign will build the bridge and create the opportunities required to successfully find returning Filipinos employment.
One of the five high-growth regions in South East Asia, the Philippines has a dynamic economy. According to IMF estimates, in 2019, the GDP growth rate reached 5.9%.
British Ambassador, Daniel Pruce comments, “In 2020, as in many countries, that growth has slowed down. COVID-19 and the stringent lockdown have had a real effect on the economy in the first half of the year. However, the Philippines has the ability to bounce back. It has solid foundations rooted in an historically stable job market and a competitive workforce. In fact, the many talents and resilience of the people of the Philippines are among the major reasons why the Philippines possesses such high prospects despite the setbacks of recent months.
Michael Page’s entry into the Philippine market is a welcome development, as they join our growing number of successful British businesses in the country.”
Olly Riches is equally optimistic, “While many companies already have back office operations in the Philippines, we want to build upon the enormous potential beyond that. With the office opening, we aim to foster long-term partnerships on the ground, and nurture the best talent here to build on the local opportunities that exist.”