The country demonstrates high rates of economic growth (10th fastest in the world). However, the average net monthly salary; $279, is one of the lowest in the world. The leading industries include IT, retail, gaming, hospitality and leisure, real estate, manufacturing, construction, energy and shipbuilding.
Being a predominantly rural country, it still has 5 cities with the population over 1 million people (Manila, Quezon City, Davao, Malingao, Cebu City) and 6 cities where the population has exceeded half a million.
The franchising industry in the Philippines is continuously one of the strongest players in the local economy. The annual turnover in franchising has risen by about 25% in the past few years, reaching $7 billion. Consequently, the number of franchise businesses has grown and is now more than 1,200.
Key franchise opportunities in the country include food and drinks, beauty (salon, spa), retail and pharmacy. The cost of franchise fee varies greatly, average being around $20.000. The initial investment capital is also greatly varied, average being about $20.000-$50.000.
An interesting aspect is the existence of the Philippines Franchise Association, a non-profit organization established in 1995 to help organize the growing number of national and foreign franchise industry players.Browse franchise List in Philippines
Education Index (2013): 0.610
Official languages: Filipino
Per capita GDP (PPP): $3,280
Quality-of-life index (0-10): 5.71
Population: 100.9 mln
Total GDP (PPP): $873.966 billion
Ease of Doing Business Ranking, Rank: 113
Human Development Index (HDI): 0.682