MANILA, PHILIPPINES - MediaOutReach - 28 August 2020 -With a young population learning to be entrepreneurs (average of 24.4 yearsold with high digital penetration) the technology and digital sectors in the Philippines are well-placedto create employment opportunities for the upcoming generation of working professionals.International executive search firm, Michael Page remains optimisticabout the untapped potential in Filipino talent as they open their sixth officewithin the South East Asia region here in Manila.
"Looking at industries in the Philippineswith high growth potential in the next few years, it is clear why the economyis well-poised for recovery. Manufacturing, including supply chain and 3PL is amajor growth area, and the consumer market, despite the lockdown and otherchallenges, has remained robust. This includes retail, food and beverages andfast-moving consumer goods," observes Olly Riches, Board Director at MichaelPage South East Asia.
Resilientand hardworking, the workforce in the Philippines is one of the biggest assetsthe country has. Among professionals in the workforce, there is a largepopulation of bilingual English-speaking professionals and a large number ofuniversity graduates.
"Thereis interest in doing business in the Philippines due to the very strong talenthere. We produce a lot of technical experts, such as engineers and healthcareprofessionals, among other skilled professionals. As a result, more MNCs arebeing drawn to investments and local conglomerates are tapping into expansionopportunities within the country for years to come," says Carla Lastimosa,Director of Michael Page Philippines.
"Weare seeing more overseas Filipino professionals returning home to thePhilippines to continue building their careers. This has created increasedconfidence in local employers of a healthy rebound for the economy," CarlaLastimosa observes.
Inview of this rising trend and by leveraging the Michael Page global network, wehave also contributed our local knowledge by attracting top talent andinvestment back to the Philippines. The launch of our Bayanihan Tulay saTagumpay campaign will build the bridge and create the opportunitiesrequired to successfully find returning Filipinos employment.
One of the fivehigh-growth regions in South East Asia, the Philippines has a dynamic economy.According to IMF estimates, in 2019, the GDP growth rate reached 5.9%.
BritishAmbassador, Daniel Pruce comments, "In 2020, as in many countries, that growthhas slowed down. COVID-19 and the stringent lockdown have had a real effect onthe economy in the first half of the year. However, the Philippines has theability to bounce back. It has solid foundations rooted in an historicallystable job market and a competitive workforce. In fact, the many talents andresilience of the people of the Philippines are among the major reasons why thePhilippines possesses such high prospects despite the setbacks of recentmonths.
MichaelPage's entry into the Philippine market is a welcome development, as they joinour growing number of successful British businesses in the country."
Olly Riches is equallyoptimistic, "While many companies already have back office operations in thePhilippines, we want to build upon the enormous potential beyond that. With theoffice opening, we aim to foster long-term partnerships on the ground, and nurturethe best talent here to build on the local opportunities that exist."