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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary✃ credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The manufacturing industry in the Philippines is the top contributor 🦋to the country’s economic growth, and the food and beverage (F&B) sector is among the largest contributors within the manufacturing industry. The F&B sector accounted ...
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The Philippine transportation sector accounted for 3.6% of national GDP in 2018. Though suffering from under-investment in recent decades, transportation has excellent prospects for the future aꦆs adding transport-related infrastructure has been among ...
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The Philippines insurance sector is one of the least developed in the ASEAN region, with insurance penetration and density signifi🌊c🥀antly lower than those in some other large ASEAN countries including Indonesia and Thailand. However, incomes in the ...
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With 1.4bn population each as of 2017, India and China are the most numerous ﷺcountries out of the six forming the focus of this repo🌟rt. However, the two countries differ widely in terms of per capita GDP, with that of China being more than twice that ...
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The Philippines banking sector remains in a nascent stage of development, and most Filipinos tend to engage in financial activities using less forma𒆙l channels such as pawnshops. Nonetheless,🗹 the banking sector has been expanding its services to ...
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The Pharmaceuticals & Healthcare sector in the Phili🍬ppines is in a phase of accelerating growth as strong economic performance in the country has been making healthcare more accessible✨ to Filipinos. Additionally, the Philippines government has ...
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The GVAs of the Philippine💛s’ real estate and construction sectors grew steadily between 2013 and 2017, reaching PHP 1,941bn for Construction and PHP 2,085bn for Real Estate and Other Business Activities in the latter year. The good performance ...
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While the Philippines has a well-deserved international 💝reputation for its prowess in providing outsourced ICT services, the remainder of the ICT sector in the country remains at an early stage of development when compared wi𒅌th that in many other ...
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The Philippines’ tourism sector made up 8.6% of the country’s GDP in 2016. The sector’s valu🐠e added grew by 12.3% y/y, contributing some PHP 1.24tn GVA in the same year, according to figures of the Department of Tourism ...
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The manufacturing industry in the Philippines is the top contributor to the country’s economic growth, while the food and beverage (F&B) sector is among the largest contributors within the manufacturinꦇg industry. The F&aꦫmp;B sector ...
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