Leveraging Service Sector Growth in the Philippines

Raja Mikael Mitra
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Raja Mikael Mitra: Asian Development Bank

No 366, ADB Economics Working Paper Series from Asian Development Bank

Abstract: The Philippines is often referred to as a country from which export of services rather than manufactured goods is the principal engine for economic growth, as the share of the service sector in gross domestic product has exceeded that of the industry sector since the mid-1980s. Three major opportunities for leveraging service sector growth stands out. One is expanding the scale and scope of the export and domestic markets for information technology-business process outsourcing and other modern services in urban areas. Second is expanding tourism to foster economic development across social groups and regions including poor and remote rural areas. Third is enhancing the domestic prospects for Filipino technical, managerial, and entrepreneurial talent so they will work in the Philippines rather than overseas. To take advantage of those opportunities, there is a need for concerted efforts to improve infrastructure; logistics; broadband connections; the power supply; and education, healthcare, financial, legal, and public administration services and more generally the overall business environment for foreign investors and local entrepreneurs.

Keywords: services; growth; Philippines; Asia; business process outsourcing; information technology; migration; diaspora; tourism; innovation; knowledge economy (search for similar items in EconPapers)
JEL-codes: F22 L80 O14 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2013-08-27
New Economics Papers: this item is included in nep-cse, nep-sea and nep-tur
Note: http://www.adb.org/sites/default/files/pub/2013/ewp-366.pdf
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Citations: View citations in EconPapers (6)

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