Market Research in the Philippines
Neighborhoods
The central city in the Philippines, Manila, is densely populated, with many attractions. Known as the “Pearl of Orient,” this city is bustling with activity. Manila is a top-rated tourist destination. It has many historical things to see and do.
Quezon City is the largest in Metro Manila. It’s also the largest city in the Philippines. It’s a full-flavored city that is bustling with life. It’s home to magnificent cathedrals and churches, museums, parks, fine restaurants, and much more. This city also has shopping malls and a wet market where you can get your fresh goods.
Cebu City is a popular tourist attraction. It has temples, gardens, waterfalls, museums, delicious food, and more. Many people journey here to see its beautiful monuments. Others crave its rich culture. With its friendly people and beautiful landscape, it is a real paradise for many.
Trends
The involvement of Filipinos on social media influences the trends in the Philippines. Global trends also affect the Filipino market. The trends in the Philippines are healthcare, beauty, sustainable alternatives, and food. We’ve seen increases in the demand for healthier options to change lives and also in the number of persons exercising. With an increase in digital devices bought and an increase in online streaming, the demand for tech is also a rising trend.
Benefits and Strengths in the Market
The Philippines has one of the largest global markets, with a growing middle class and one of Southeast Asia’s youngest populations. A high percentage of its people is under the age of 20. Approximately 90% of Filipinos are functionally literate. The robust consumer demand and impressive labor market support the country’s dynamic economy. The Philippines market shows its strength through the energy franchise and the transportation, infrastructure, ICT, and health industries.
Consumer Base
Filipinos tend to devote their money to products with which they are familiar. Because of this, they are a great market. Social media also serves as a significant influence for the consumer. This online activity serves as a connection. It’s the bridge between the Philippines and the outside world. This link is what the foreign market needs. Foreign influence and trends help to predict consumer behavior. Many consider The Philippines to be a melting pot. It consists of many cultures, races, and people. With such individuality, there is no weak consumer base for any sector or industry.
How The Philippines is a Gateway to Southeast Asia
The Philippines is a gateway to the East Asian Economies. The archipelago lies at the crossroad of Eastern and Western business. The name “gateway to Southeast Asia” is significant. It comes from the relationship the Philippines has with America. The Philippines is a critical entry point for over 400 million people in the ASEAN. It is also a gateway for international shipping and investments. A large number of people make their way through the Philippines each year. Thus, over 20 different airlines service the country. The Philippines benefit most from American and European businesses. These airlines support that trade.
Rule of Law
The Philippines is a rule of law country. Thus, there are laws put into place that every person, industry, and entity has to follow and respect. Yet, over recent years the country has not been upholding the duties accompanied by this. The Philippines does not seem to be doing much to enforce the laws of the land. It ranks near the bottom among other countries in the world regarding adherence to the rule of law. Because of this, some investors have backed away from coming into the Philippines to set up businesses.