by Revin Mikhael D. Ochave, BusinessWorld, 11 Nov 2021
THE PHILIPPINES is the fastest-growing internet economy in Southeast Asia fueled by e-commerce and food delivery services, according to a report by Google, Temasek, and Bain & Co.
The e-Conomy Southeast Asia Report released on Wednesday showed the Philippines’ overall internet economy in terms of gross merchandise value (GMV) will likely reach $40 billion in value by 2025 (Read related story).
“Overall, the Philippines was the fastest- growing market in the region, driven by strict lockdowns as well as a tipping point on the adoption of certain digital services,” the report read.
The Philippines’ GMV is estimated to reach $17 billion this year, an increase of 93% from a year ago, due to government initiatives and mass digital adoption. This strong growth has also been fueled by double-digit growth in sectors such as food delivery services.
The Philippines also added 12 million new digital consumers since the pandemic started in March 2020. Of this, 63% are from non-metro areas. Majority also said they plan to continue using these services even after the pandemic.
“Pre-pandemic users — those who used the services before the pandemic — have consumed an average of 4.3 more services since the pandemic began and 95% of pandemic consumers are still consumers today. Despite rapid growth in the last 18 months, there remains significant headroom since the Philippines has the lowest digital consumer penetration in the region, with only 68% of internet users consuming online services,” the report said.
The report showed that 39% of digital merchants in the Philippines said they would not have survived the pandemic, if not for digital platforms.
“The digital adoption we’ve seen in the Philippines since last year has contributed to the accelerated growth of the country’s internet economy, magnifying its vast potential,” Google Philippines Country Director Bernadette Nacario said in a statement. —
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
