Move Over Thailand, the Philippines is Southeast Asia's Strong Man

[Lite Beer]

Move Over Thailand, the Philippines is Southeast Asia's Strong Man

With a greater focus on manufacturing, a young population and a president committed to stable growth, the Philippines is pulling ahead

The Philippines is no longer the `sick man of Asia', Economic Planning Secretary Arsenio Balisacan declared yesterday after the economy grew a better-than-estimated 6.9 percent last quarter from a year earlier. That capped three successive years of above-6-percent growth, placing it well ahead of Thailand, once a growth engine of Southeast Asia.

GDP Growth: While both countries recorded almost-similar growth rates in 2006, the Thai economy has since floundered because of military coups, floods and persistent political uncertainty. The Philippines, on the other hand, has expanded steadily, with President Benigno Aquino's efforts to crack down on corruption and improve the investment climate from the time he took office in 2010 bearing fruit.

Read More: http://www.bloomberg.com/news/articles/2015-01-30/move-over-thailand-the-philippines-is-southeast-asia-s-strong-man

--Bloomberg 2015-01-30

[Costas2008]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

[Anthony5]

So now Thailand will probably become the hub of falling houses of cards.

[waza]

Well corupting 600 billion plus, baht out of the economy will have that result

Sent from my GT-I9300T using Thaivisa Connect Thailand mobile app

[bangkapi]

Bloomberg is talking out of their butt hole.

That poor archipelago is a basket case filled with poor people who were just admonished by the pope to "stop breeding like rabbits".

Half the country's population can barely scrape up enough income to feed their families a bit of rice every day.

One of the best paying jobs for college grads is call center agent making less than the equivalent of 10K baht a month.

There is so much globalist propaganda being published these days that I nearly vomit every day from things I read that I know are blatant lies.

[NeverSure]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

Coups are all things of the past, huh? You don't understand that businesses don't want to invest where there is instability including coups.

The Phils have a huge labor pool in the needed age group due to higher birth rates. It's hard to find Thais who will really work.

The US has just reached agreement to move back into Subic Bay and Clark Air Force Base which will give the Phil's economy an even greater boost.

Thailand is starting to suck air with falling tourism and falling exports. The Phils are growing.

You may not like what you read but the numbers are there. Thailand is yesterday's rising star.

[PepperMe]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

Wow.... What an optimist.

Thailand is never stable... The next coup and junta is always just around the corner. The nation is STILL polarized and that means uncertainty.

Phils and Indonesia have good positioning, and growing infrastructure and populations. Thailand is losing ground to these especially with the Japs.

Car manufacturing is already inching out of Thailand for these places.

The big investors are getting pig sick of Thailand and its weird ways, unreliable workers, bad image and instability.

[craigt3365]

Toyota recently moved their Fortuner manufacturing plant from here to the PI due to management and manufacturing issues. I've met quite a few foreigners on planes over the past 3-4 years that were researching the same thing due to the floods and government issues. Many were in the computer industry. Good paying jobs.

[Lammbock]

Move Over Thailand, the Philippines is Southeast Asia's Strong Man

That is a Joke, right? For instant: Try to "Google" > Manila Port Conjunction.

[Roota]

So now Thailand will probably become the hub of falling houses of cards.

Huh?

Fact is, neither Thailand nor the Philippines have been in the running for 'strong man' for decades now. Bloomberg seems to have forgotten about the current rising star, Indonesia, and then the new one behind that, Vietnam.

Thailand and the PI will continue to muddle through but the real growth in the region (and make no mistake, it's still growing fast) will be elsewhere.

[TallGuyJohninBKK]

Interesting article,if you read the full article and all the economic output graphs included there.

However, it's one thing to say the PH's economic growth and output is outpacing Thailand's in recent years. I don't doubt that's true.

But those are different measurements from what kind of countries they two are to live in, the quality of life for their residents, the poverty rates, etc etc.

Using those kind of measurements, perhaps the PH has doubled from a 2 to a 4 rating on a scale of 10. While Thailand might be floundering along at 6 or 7 on a scale of 10. Bottom line, the PH's still has a LONG way to go to even catch up to TH -- assuming the latter country doesn't self-destruct at some point.

[empireboy]

If the yanks go back in force ti Phi, it will be a big deal.

I also think the high degree of reasonable english is a big advantage over Thailand too...

Oh, and then there's the small issue of DEMOCRACY!

I'm no economist but my money would be more with Phi

[stopthegreed]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

5555555 wake up

[PHP87]

I considered the RP as a retirement destination, and there are places there that I would live.

But overall, the country is dirt poor, has high crime and has other negatives.

Thailand is by no means perfect, but IMO, a better retirement destination than the RP

[Don Aleman]

I agree LiteBeer as Thailand, for reasons not clear, have ignored/insulted/rejected US, and

other nations, visits/ideas/suggestions and the Philippines is still hurting because of their decision to evict the US bases years ago. Many of the buildings/facilities/labor force still exist there so it would be fairly easy to re establish US bases plus the US has far more information, without silly restrictions, on operation in the Philipines,most speak English and re positioning Cobra Gold there would be most beneficial to both nations.

[siamike]

I agree that the P.I. is making good progress, but this news report seems be a bit premature in putting the P.I. in first place; any real proof is still a few years away.

Thais currently have the advantage of being slightly more technologically advanced, but that could change very quickly if the political problems aren't quickly resolved.

I agree with empireboy that language will play an important part in growth, and there, the P.I. has the clear advantage. Both countries suffer from endemic corruption and it may just boil down to which one can clean up their country first.

[willyumiii]

Is this why so many from the Philippines have come to Thailand seeking a much higher wage than they can get at home?

Wages in Thailand are not high compared to most places, but much higher than in the Philippines.

The following is from wiki and 2014 statistics:

Just for a good comparison, the minimum wage for the Philippines is $1 per day in the non-plantation agricultural sector for the countryside. When working in the national capital, the minimum wage increases to about $2 per day. Unfortunately, when these minimum wages per day are quote for the non-agricultural sector, the agriculture wages are probably much lower and calculated based on the crop.

That is somewhere around 35-70 THB per day!

I would call the Philippines a "not so strong man"!!!

I think at the end of 2015 when ASEAN kicks into gear we will see a flood of people from the Philippines in Thailand seeking employment.

Unlike Thais, most Philippine people speak fairly good English..a requirement for ASEAN.

Just saying...

[Asia2000]

I think a few here talk about experience way back in time, or rumors only.

How many of you have actually spent some times in the Philippines the last 3 years ?

It's unfair to compare Thailand vs Philippines, as people always tend to do. If one want to compare, compare two countries that are more equal like Cambodia vs Philippines.

It's not like it was 5-10 years ago. I lived here only 2 years but in that time, I seen a remarkable change. More people find employment. people have more money to spend, foreign companies are investing here. Salaries are increasing.

Some says the high population growth is negative, is it really?

Today more families can afford to give their children a good education. And in the future more Filipinos will work overseas, and send money home, improving their families life, and increasing Philippines USD reserve found.

Like it or not, Philippines sees a good growth in many fields, and tourist numbers has doubled last 10 year.

Wages in the Philippines

http://www.payscale.com/research/PH/Industry=Call_Center/Salary

Edit; Minimum wages in 2015 is 340 peso per day = 7,90 USD per day

[PHP87]

Don't get me wrong, there are plenty of places that I would live in the RP

A good friend of mine lives steps from the beach in Daluguete on Cebu and I have researched the RP extensively as a retirement destination.

But after doing a ton of research, Thailand trumps the RP, at least for me.

Others will choose the RP over Thailand.

To each his own...

[Just1Voice]

Overall, Thailand may have the advantage for now, but in 5 years? P.I. is catching up fast, and if the US military moves back to Clark and Subic Bay, that's going to me a major boost to their economy. They are moving forward, with viable plans for their future, while Thailand is stagnating and becoming even more insular and xenophobic in their attitudes.

Things will definitely get interesting.

[sojourner007]

I agree that the P.I. is making good progress, but this news report seems be a bit premature in putting the P.I. in first place; any real proof is still a few years away.

Thais currently have the advantage of being slightly more technologically advanced, but that could change very quickly if the political problems aren't quickly resolved.

I agree with empireboy that language will play an important part in growth, and there, the P.I. has the clear advantage. Both countries suffer from endemic corruption and it may just boil down to which one can clean up their country first.

The report actually states the opposite: "Thailand's manufacturing prowess has taken a hit in recent years from the record floods of 2011, smaller R&D investments compared to regional rivals and obsolete technology, particularly in electronics, the Bank of Thailand has said. Thailand’s ranking for innovation in the World Economic Forum’s Global Competitiveness Index fell to 67 in 2014 from 33 in 2007"

[Lammbock]

Move Over Thailand, the Philippines is Southeast Asia's Strong Man

That is a Joke, right? For instant: Try to "Google" > Manila Port Conjunction.

Sorry, I meant "congestion"

[sojourner007]

Is this why so many from the Philippines have come to Thailand seeking a much higher wage than they can get at home?

Wages in Thailand are not high compared to most places, but much higher than in the Philippines.

The following is from wiki and 2014 statistics:

Just for a good comparison, the minimum wage for the Philippines is $1 per day in the non-plantation agricultural sector for the countryside. When working in the national capital, the minimum wage increases to about $2 per day. Unfortunately, when these minimum wages per day are quote for the non-agricultural sector, the agriculture wages are probably much lower and calculated based on the crop.

That is somewhere around 35-70 THB per day!

I would call the Philippines a "not so strong man"!!!

I think at the end of 2015 when ASEAN kicks into gear we will see a flood of people from the Philippines in Thailand seeking employment.

Unlike Thais, most Philippine people speak fairly good English..a requirement for ASEAN.

Just saying...

Bar ladies in the Philippines earn practically the same money as their Thai counterparts. Also unlike Thais, something like 10% of Filipinos work overseas and earn much higher salaries than Thais do at home. So overall I think Filipinos make more money per person than Thais.

[Gentmartin]

I think a few here talk about experience way back in time, or rumors only.

How many of you have actually spent some times in the Philippines the last 3 years ?

It's unfair to compare Thailand vs Philippines, as people always tend to do. If one want to compare, compare two countries that are more equal like Cambodia vs Philippines.

It's not like it was 5-10 years ago. I lived here only 2 years but in that time, I seen a remarkable change. More people find employment. people have more money to spend, foreign companies are investing here. Salaries are increasing.

Some says the high population growth is negative, is it really?

Today more families can afford to give their children a good education. And in the future more Filipinos will work overseas, and send money home, improving their families life, and increasing Philippines USD reserve found.

Like it or not, Philippines sees a good growth in many fields, and tourist numbers has doubled last 10 year.

Wages in the Philippines

http://www.payscale.com/research/PH/Industry=Call_Center/Salary

Edit; Minimum wages in 2015 is 340 peso per day = 7,90 USD per day

1. Of course huge families causing huge population is negative. Im guessing you have never been outside your ivory towers there to visit families with 4, 5, 6 and many with more kids struggling to survive and eat....there are many, open your eyes and see.

2. Sending kids to work abroad is NEGATIVE as only the educated ones leave to work abroad (often on less than the salary of the people in the country they move to) and send money back which has been a huge problem in RP for years and is a self perpetuating spiral of trouble. Phils needs to encourage its people to stay and build their own economy with their talents NOT go abroad and help someone elses economy by providing a cheap labour force. Until wages increase significantly, this will always be a restraint on RPs growth.

Minimum wage ?? hahahahahahham get real, yes on paper, NO in reality.

Yes, foreign companies are investing there, and yes tourism is increasing as the govt is finally working hard to push the tourist industry as they realise at last that it is a great way to boost the economy, but the infrastructure is still as terrible as it's always been.

In the 12 years Ive been travelling to, working and living in Phils Ive seen small improvements, but the problem is, the improved economy is benefitting the already rich greatly, and the very poor only slightly.

I see no less street kids and homeless on the city streets, i see NO improvement in my friends lives who live in the shanties of MM, and only a tiny improvement to the lives of friends out in the provinces. For the huge majority it's still an extremely difficult and impoverished existence and its p1sses me off when people paint it out to be anything other than that.

I live in Thailand now, as i cant afford to live there anymore until I retire and of course, it's nigh on impossible to get paid work in Phils, but still visit often. RP is the most amazing beautiful place in the world and the people simply the best. Thailand could learn a lot.

My friend, Im glad youve set up home ther and are happy, but ID suggest you look outside your comfort zone a little to learn a lot, your experience and enjoyment will improve even more.

[willyumiii]

Is this why so many from the Philippines have come to Thailand seeking a much higher wage than they can get at home?

Wages in Thailand are not high compared to most places, but much higher than in the Philippines.

The following is from wiki and 2014 statistics:

Just for a good comparison, the minimum wage for the Philippines is $1 per day in the non-plantation agricultural sector for the countryside. When working in the national capital, the minimum wage increases to about $2 per day. Unfortunately, when these minimum wages per day are quote for the non-agricultural sector, the agriculture wages are probably much lower and calculated based on the crop.

That is somewhere around 35-70 THB per day!

I would call the Philippines a "not so strong man"!!!

I think at the end of 2015 when ASEAN kicks into gear we will see a flood of people from the Philippines in Thailand seeking employment.

Unlike Thais, most Philippine people speak fairly good English..a requirement for ASEAN.

Just saying...

Bar ladies in the Philippines earn practically the same money as their Thai counterparts. Also unlike Thais, something like 10% of Filipinos work overseas and earn much higher salaries than Thais do at home. So overall I think Filipinos make more money per person than Thais.

Filipinos working over seas earn much higher salaries than Thaisa do at home"

Ummm...errrr, excuse me, This is about what they earn in the Philippines, not overseas.

Did we get lost somewhere?

Thais who go overseas to work can make pretty high salaries as well.

In fact, just about anyone from SE Asia who has the ways and means to get to the U.S can probably earn more in one hour than they can in a day or even a week in their home country.

I don't follow your logic, is there any?

[bikerbri]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

Nice Thought,but only that I'm afraid. Wait till 2016. The Philippines and its people will show the rest of South East Asia how investing in its education system in the past is about to pay off in its future. The Philippines will become the Hub of South East Asia,inviting more and more outside investment.The Americans are already seeing the possibilities and reopening their bases there. Thailand's economy is on the slide and most major investment subject to review. Cozying up to China is going to be Thailand's downfall.

[umbanda]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

Sometimes I like you....Will see tomorrow.... Sunday..

Some Greek people like changes personalities in Sundays.

[umbanda]

"Thai economy has since floundered because of military coups, floods and persistent political uncertainty"

All things of the past.

The future is bright.

Stability is back and the Government is taking care of that.

Thailand will flourish again in the coming years.

The longer they govern the better for Thailand and it's people.

God or Buddha forbid we go back to the previous political situation and turmoil.

Nice Thought,but only that I'm afraid. Wait till 2016. The Philippines and its people will show the rest of South East Asia how investing in its education system in the past is about to pay off in its future. The Philippines will become the Hub of South East Asia,inviting more and more outside investment.The Americans are already seeing the possibilities and reopening their bases there. Thailand's economy is on the slide and most major investment subject to review. Cozying up to China is going to be Thailand's downfall.

The US are seeing the "possibilities"...Sure....Its will need military bases there in a new War..and the Phillis will regret that "friendship"...

[Camelot]

The population explosion in the Philippines is holding the country back. The rampant corruption doesn't help, either, although businessmen say that if you pay a bribe you get what you paid for, unlike in Thailand where you can never be sure. The level of hospitality in the Philippines has always impressed me and I rate it higher than here.

[Friendly Stranger]

Is this why so many from the Philippines have come to Thailand seeking a much higher wage than they can get at home?

Wages in Thailand are not high compared to most places, but much higher than in the Philippines.

The following is from wiki and 2014 statistics:

Just for a good comparison, the minimum wage for the Philippines is $1 per day in the non-plantation agricultural sector for the countryside. When working in the national capital, the minimum wage increases to about $2 per day. Unfortunately, when these minimum wages per day are quote for the non-agricultural sector, the agriculture wages are probably much lower and calculated based on the crop.

That is somewhere around 35-70 THB per day!

I would call the Philippines a "not so strong man"!!!

I think at the end of 2015 when ASEAN kicks into gear we will see a flood of people from the Philippines in Thailand seeking employment.

Unlike Thais, most Philippine people speak fairly good English..a requirement for ASEAN.

Just saying...

What you're saying is correct. They're hungrier and will set their sites on the tourism industry where English is an asset. And, going based what I've read and been told they'll work cheaper.