The Philippines is often described as an emerging market, fuelled by a growing middle class, favourable demographics, and large investments in infrastructure projects. The economy is growing very quickly and today there are 40 Swedish companies in the Philippines that capitalise from this economic progress.
Opportunities for Swedish companies
The economic growth is especially centralised in the capital Manila, but the current government is making an effort to spread business to the rest of the Philippines. Focusing on reducing poverty, they invest in large infrastructure projects in the country’s different regions. This is where international companies find the biggest business opportunities. There are also interesting possibilities within manufacturing, retail and other professional services.
Possible challenges
Although the strong economic growth offers plenty of opportunities, the Philippines is still a high-risk market. Companies that want to enter the market should plan meticulously and be prepared to deal with corruption.
How we can help
Business Sweden has been present in the Philippines since 2017. Our team offers strategic advice and has a support network that helps Swedish companies get their business on track.
