FEATURE20 December 2016

Confidence in the Philippines

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Bronwen Morgan

Asia Pacific Features Impact Trends

Recent figures have revealed Filipino consumers to be the most optimistic in the world. Bronwen Morgan explores what is behind this confidence, as well as the potential risks facing this growing economy

Philippines confidence

According to the latest consumer confidence research from Nielsen (from the second quarter of this year), Filipino consumers are the most optimistic in the world. 

In August, the country recorded its highest consumer confidence index score of 132 – the biggest quarter-on-quarter increase among the 63 countries included in the survey – topping the world optimism league for the first time. 

In August 2015, CNN Money forecast that the Philippines would be the fourth fastest growing economy for that year, after China, Qatar and India. The Asian Development Bank reported that the country’s GDP grew by 5.8% last year, and estimated it would rise to 6% this year. 

These figures were cited in a report on the Philippines from global business intelligence firm RepRisk, published in July as part of its series on the Association of Southeast Asian Nations, a regional group made up of 10 states. The report claims recent growth has mostly been fuelled ...