Recently, I've been to Makati City and Ortigas Center in Pasig City to find better job and business opportunities. The number of high rise buildings here seems to be doubling every year. Tinted glasses, magnificent architecture, and corporate people are here. Impressive places. But I started thinking and ask these questions.
Are these high rise buildings really for us - the 100 million Filipinos?
Are these wonderful infrastructures for job seekers like me?
In this blog, I will share my views of the rising Philippines economy and its impact to millions of Filipinos.
Building construction is everywhere in the Philippines. If you’re an investor reading this post, I have some good news for you.
Here are the facts and figures about the Philippine economy today.
Last May 8, 2014, Standard & Poor’s Financial Services (S&P) upgraded the Philippines’ long-term sovereign credit rating from BBB- Stable to BBB Stable, the highest rating ever recorded in the country’s history.
Source: http://www.gov.ph/report/credit-ratings/
The economy of the Philippines expanded by 6.1% in 2014, fueled by sustained increases in private consumption, higher fixed investment, and recovery in exports. Strong GDP growth is projected for 2015 and 2016 based on buoyant private consumption, a solid outlook for investment and exports, and recovery in government expenditure. GDP is projected to increase by 6.4% in 2015 and 6.3% in 2016.
Source: http://www.adb.org/countries/philippines/economy
The Philippines Stock Market (PSEi) increased to 8127.47 Index points in April from 7940.48 Index points in March of 2015. Stock Market in Philippines averaged 1994.67 Index points from 1986 until 2015, reaching an all time high of 8127.47 Index points in April of 2015 and a record low of 129.52 Index points in February of 1986.
Source: http://www.tradingeconomics.com/philippines/stock-market
Is Philippine economy really progressing? Technically, yes; the numbers show. Is the quality of life in the Philippines improving because of the rising economy?
On my own perspective, as a citizen of this county in my early 30’s, the population increase is largely affecting the quality of life of many Filipinos. It should have been an improving quality of life, but it’s not actually the case. There is no good balance between the supply of basic needs of the average Filipinos and the demand for economic development by the people in power. Putting it on another perspective, the tax collection could have been increasing but the budget allocation for the common Filipinos' wellness is still not sufficient enough – because population tends to increase faster.
Take a look on how progressive Manila is right now. There are hundreds of high rise buildings here and there are thousands of jobs inside of each.
On the Photos: Buildings in Makati City Financial District
But, what are these high rise buildings for? The reality is that these are just for qualified jobs seekers, for the economic developers, and for the investors. Are these for the Filipinos? Probably, ain’t yet.
On the Photos: Buildings in Makati City Financial District and Ortigas Center
Philippines is a hub for investors. No question about it. But for people’s sake, give us a job. Moreover, educate us so that jobs can be for us. This is not the case right now. From the lowest to the highest rank job, there is a mismatch going on and it's big. Considering that millions of Filipinos still choose to work overseas, there is a big mismatch between qualification/education here in the country. Considering that graduates can’t find a job easily, there is a qualification/education mismatch and the alarming truth is that this is happening in these cities. Considering that job competition is too rough, job openings are not just numbers to crunch out, but also "unreal" jobs that cannot be filled by those who needs it.
On the Photos: Buildings in Ortigas Center, Pasig City
Philippines might have good credit rating now. The PSI is attractive to investors. The economy is booming - as the bull market is here. But there's a problem. The quality of life seems worsening.
So are these high buildings for Filipinos? I think not – big NO. If executives in these buildings care about the quality of life of the Filipinos, they should have been walking out of these concrete walls and thick glasses and helping the Filipinos in making their first step of going inside – long time ago. Some could have been doing their part, but a lot do not. If you can sense what I’m saying, then you’re an investor with both heart and mind.
Related posts:
Where in the Philippines is Bonifacio Global City – the Gateway to the First World Country?
About this Blog
This blog is dedicated to millions of Filipinos who want to improve their lives. I want to help you by telling to the world that we are smart yet most of us lack the tools and techniques to prove it. If someone will help, these high rise buildings can really be called “OURS”. For more information about the Philippines, explore this blog. For information about business, whether you’re an investor or not, visit Knowriel.com. You can also email the author, Noriel Panganiban, if you have questions on comments about his blog posts. Noriel is always willing to help.
Are these high rise buildings really for us - the 100 million Filipinos?
Are these wonderful infrastructures for job seekers like me?
In this blog, I will share my views of the rising Philippines economy and its impact to millions of Filipinos.
Building construction is everywhere in the Philippines. If you’re an investor reading this post, I have some good news for you.
Here are the facts and figures about the Philippine economy today.
Last May 8, 2014, Standard & Poor’s Financial Services (S&P) upgraded the Philippines’ long-term sovereign credit rating from BBB- Stable to BBB Stable, the highest rating ever recorded in the country’s history.
Source: http://www.gov.ph/report/credit-ratings/
The economy of the Philippines expanded by 6.1% in 2014, fueled by sustained increases in private consumption, higher fixed investment, and recovery in exports. Strong GDP growth is projected for 2015 and 2016 based on buoyant private consumption, a solid outlook for investment and exports, and recovery in government expenditure. GDP is projected to increase by 6.4% in 2015 and 6.3% in 2016.
Source: http://www.adb.org/countries/philippines/economy
The Philippines Stock Market (PSEi) increased to 8127.47 Index points in April from 7940.48 Index points in March of 2015. Stock Market in Philippines averaged 1994.67 Index points from 1986 until 2015, reaching an all time high of 8127.47 Index points in April of 2015 and a record low of 129.52 Index points in February of 1986.
Source: http://www.tradingeconomics.com/philippines/stock-market
Is Philippine economy really progressing? Technically, yes; the numbers show. Is the quality of life in the Philippines improving because of the rising economy?
On my own perspective, as a citizen of this county in my early 30’s, the population increase is largely affecting the quality of life of many Filipinos. It should have been an improving quality of life, but it’s not actually the case. There is no good balance between the supply of basic needs of the average Filipinos and the demand for economic development by the people in power. Putting it on another perspective, the tax collection could have been increasing but the budget allocation for the common Filipinos' wellness is still not sufficient enough – because population tends to increase faster.
Take a look on how progressive Manila is right now. There are hundreds of high rise buildings here and there are thousands of jobs inside of each.
On the Photos: Buildings in Makati City Financial District
But, what are these high rise buildings for? The reality is that these are just for qualified jobs seekers, for the economic developers, and for the investors. Are these for the Filipinos? Probably, ain’t yet.
On the Photos: Buildings in Makati City Financial District and Ortigas Center
Philippines is a hub for investors. No question about it. But for people’s sake, give us a job. Moreover, educate us so that jobs can be for us. This is not the case right now. From the lowest to the highest rank job, there is a mismatch going on and it's big. Considering that millions of Filipinos still choose to work overseas, there is a big mismatch between qualification/education here in the country. Considering that graduates can’t find a job easily, there is a qualification/education mismatch and the alarming truth is that this is happening in these cities. Considering that job competition is too rough, job openings are not just numbers to crunch out, but also "unreal" jobs that cannot be filled by those who needs it.
On the Photos: Buildings in Ortigas Center, Pasig City
Philippines might have good credit rating now. The PSI is attractive to investors. The economy is booming - as the bull market is here. But there's a problem. The quality of life seems worsening.
So are these high buildings for Filipinos? I think not – big NO. If executives in these buildings care about the quality of life of the Filipinos, they should have been walking out of these concrete walls and thick glasses and helping the Filipinos in making their first step of going inside – long time ago. Some could have been doing their part, but a lot do not. If you can sense what I’m saying, then you’re an investor with both heart and mind.
Related posts:
Where in the Philippines is Bonifacio Global City – the Gateway to the First World Country?
About this Blog
This blog is dedicated to millions of Filipinos who want to improve their lives. I want to help you by telling to the world that we are smart yet most of us lack the tools and techniques to prove it. If someone will help, these high rise buildings can really be called “OURS”. For more information about the Philippines, explore this blog. For information about business, whether you’re an investor or not, visit Knowriel.com. You can also email the author, Noriel Panganiban, if you have questions on comments about his blog posts. Noriel is always willing to help.
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