According to forecast data from Tellusant, 47.6 percent of the population in the Philippines in 2024 would earn at least the equivalent of the top 40 percent of global earners in 2022 constant purchasing power parity. Out of those 98.7 percent, 1.1 percent would earn the equivalent of the top 10 percent of global earners in 2022 constant purchasing power parity.

In 2020, the estimated size of the middle class population in the six selected Southeast Asian countries Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam amounted to around 200 million. That year, approximately 80 million people of Indonesia's total population were part of the middle class.

Philippines Number of Families: Region VIII, Eastern Visayas data was reported at 976,000.000 Unit in 2015. This records an increase from the previous number of 902,000.000 Unit for 2012. Philippines Number of Families: Region VIII, Eastern Visayas data is updated yearly, averaging 752,683.500 Unit from Dec 1988 (Median) to 2015, with 10 observations. The data reached an all-time high of 976,000.000 Unit in 2015 and a record low of 598,521.000 Unit in 1988. Philippines Number of Families: Region VIII, Eastern Visayas data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.H014: Family Income and Expenditure Survey: No of Families: By Income Class and Main Source of Income.

Philippines Average Family Income: Region III, Central Luzon data was reported at 299,000.000 PHP in 2015. This records an increase from the previous number of 259,000.000 PHP for 2012. Philippines Average Family Income: Region III, Central Luzon data is updated yearly, averaging 155,724.500 PHP from Dec 1988 (Median) to 2015, with 10 observations. The data reached an all-time high of 299,000.000 PHP in 2015 and a record low of 46,855.000 PHP in 1988. Philippines Average Family Income: Region III, Central Luzon data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.H020: Family Income and Expenditure Survey: Average Annual Income, Expenditure and Saving: By Region.

Philippines Average Family Income: Region X, Northern Mindanao data was reported at 221,000.000 PHP in 2015. This records an increase from the previous number of 190,000.000 PHP for 2012. Philippines Average Family Income: Region X, Northern Mindanao data is updated yearly, averaging 109,666.500 PHP from Dec 1988 (Median) to 2015, with 10 observations. The data reached an all-time high of 221,000.000 PHP in 2015 and a record low of 35,801.000 PHP in 1988. Philippines Average Family Income: Region X, Northern Mindanao data remains active status in CEIC and is reported by Philippine Statistics Authority. The data is categorized under Global Database’s Philippines – Table PH.H020: Family Income and Expenditure Survey: Average Annual Income, Expenditure and Saving: By Region.

SM Prime Holdings, Inc. was the leading real estate developer in the Philippines regarding net income in 2022. That year, the company reported a net income of approximately 22 billion Philippine pesos. Its closest competitor, Ayala Land, generated a net income of about 13.3 billion Philippine pesos in the same year.

SM Prime Holdings – more information

SM Prime Holdings is a property developer that primarily builds and manages shopping malls in the country and abroad. In 2022, malls accounted for about half of the company’s total revenue. As of the first quarter of 2023, SM Prime owns and operates 82 malls in the country and seven in China. Its largest mall – SM Mall of Asia, is one of the largest nationwide, with over 600 shops. Aside from malls, the company also started venturing into the real estate segment and has been providing mid-rise buildings and single detached houses in multiple essential areas, such as cities in Metro Manila, Tagaytay, Cavite, Iloilo, and Davao. SM Prime also owns and operates convention centers and hotels.

The state of property development in the Philippines

Real estate in the Philippines has undergone massive developments in the past decade. The industry has grown significantly thanks to foreign investment growth, a growing middle-class population, and sustained remittances from overseas Filipino workers (OFWs), especially after the economic recovery post-COVID. Property developers are expected to maximize the increasing demand for property supply as multiple opportunities for real estate segments arise.

The household computer penetration in the Philippines was forecast to continuously increase between 2024 and 2029 by in total 0.9 percentage points. After the ninth consecutive increasing year, the computer penetration rate is estimated to reach 25.71 percent and therefore a new peak in 2029. Depicted is the estimated share of households owning at least one computer.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the household computer penetration in countries like Thailand and Cambodia.

The number of people in the Philippines choosing to get life insurance significantly increased between 2016 and 2022. From merely 11,000 in 2016, this figure has reached close to 27,000 in 2022. Despite this, the penetration rate of the insurance industry in the country remained lower than the global average. Life insurance in the Philippines The ratio of the total insurance premiums to the population, or insurance density, was several times higher for life insurance than for non-life insurance in the Philippines. Individuals are more likely to get a life insurance policy as it provides financial protection to the family or beneficiaries of the insured in comparison to non-life insurance. There are two types of life insurance available - traditional and variable. Traditional life insurance focuses more on death or living benefits, whereas variable insurance policies are investment-linked insurance of a broader nature. As of 2023, traditional life insurance companies in the Philippines earned premium income amounting to approximately 105.2 billion Philippine pesos, which was significantly higher compared to 2016. In the same year, Sun Life of Canada (Philippines) and Pru Life Insurance Corporation (UK) were the two leading life insurance companies in the Philippines. Challenges to insurance penetration The Philippine economy has been poised for growth in recent years, with its middle-class population characterized by rising disposable incomes. However, this has not made significant contributions to the insurance industry in the Philippines, which remains to have one of the lowest penetration rates globally. Among the possible reasons for this have been low awareness and the affordability of insurance plans, especially among low-income households.

The Philippines is a densely populated country with around 104.9 million people and with 19.9 million households. On average, the household electricity consumption in the country was about 248.1-kilowatt hours in 2015, where electricity was used primarily for lighting purposes, cooking, recreation and space cooling.

Electricity energy consumption

Electricity is still the leading used energy in the Philippines. From 2008 to 2017, the consumption of electricity in different sectors of the country increased over the years. The residential sector and industrial sector were one of the major consumers of electrical energy. A sign of slowing down is nowhere near since most of the sectors rely on electricity for their operations. Although some parts of the country, especially the rural areas where families belong to the lowest income brackets used kerosene for lighting. Majority of the Filipinos belonging to the urban areas have access to electricity.

Sources of energy

Electricity is derived from different sources of energy produced by powerplants. For electricity to be produced, power plants harness different resources. As of 2018, most of the power generated by the power plants in the country came from coal. The Luzon and Mindanao areas have shown their dependency to coal while the Visayas region opted for a cleaner energy out of renewable energies.