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.

Explore The Human Capital Report dataset for insights into Human Capital Index, Development, and World Rankings. Find data on Probability of Survival to Age 5, Expected Years of School, Harmonized Test Scores, and more.

Low income, Upper middle income, Lower middle income, High income, Human Capital Index (Lower Bound), Human Capital Index, Human Capital Index (Upper Bound), Probability of Survival to Age 5, Expected Years of School, Harmonized Test Scores, Learning-Adjusted Years of School, Fraction of Children Under 5 Not Stunted, Adult Survival Rate, Development, Human Capital, World Rankings

Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Belarus, Belgium, Benin, Bhutan, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi, Côte d'Ivoire, Cambodia, Cameroon, Canada, Central African Republic, Chad, Chile, China, Colombia, Comoros, Congo, Costa Rica, Croatia, Cyprus, Denmark, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Estonia, Eswatini, Ethiopia, Fiji, Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guyana, Haiti, Honduras, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kuwait, Latvia, Lebanon, Lesotho, Liberia, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Namibia, Nauru, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, North Macedonia, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Rwanda, Samoa, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovenia, Solomon Islands, South Africa, South Sudan, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Tuvalu, Uganda, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, Vanuatu, Vietnam, Yemen, Zambia, Zimbabwe, WORLD

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Last year edition of the World Economic Forum Human Capital Report explored the factors contributing to the development of an educated, productive and healthy workforce. This year edition deepens the analysis by focusing on a number of key issues that can support better design of education policy and future workforce planning.

Equity in health outcomes for rural and remote populations in low- and middle-income countries (LMICs) is limited by a range of socio-economic, cultural and environmental determinants of health. Health professional education that is sensitive to local population needs and that attends to all elements of the rural pathway is vital to increase the proportion of the health workforce that practices in underserved rural and remote areas. The Training for Health Equity Network (THEnet) is a community-of-practice of 13 health professional education institutions with a focus on delivering socially accountable education to produce a fit-for-purpose health workforce. The THEnet Graduate Outcome Study is an international prospective cohort study with more than 6,000 learners from nine health professional schools in seven countries (including four LMICs; the Philippines, Sudan, South Africa and Nepal). Surveys of learners are administered at entry to and exit from medical school, and at years 1, 4, 7, and 10 thereafter. The association of learners' intention to practice in rural and other underserved areas, and a range of individual and institutional level variables at two time points—entry to and exit from the medical program, are examined and compared between country income settings. These findings are then triangulated with a sociocultural exploration of the structural relationships between educational and health service delivery ministries in each setting, status of postgraduate training for primary care, and current policy settings. This analysis confirmed the association of rural background with intention to practice in rural areas at both entry and exit. Intention to work abroad was greater for learners at entry, with a significant shift to an intention to work in-country for learners with entry and exit data. Learners at exit were more likely to intend a career in generalist disciplines than those at entry however lack of health policy and unclear career pathways limits the effectiveness of educational strategies in LMICs. This multi-national study of learners from medical schools with a social accountability mandate confirms that it is possible to produce a health workforce with a strong intent to practice in rural areas through attention to all aspects of the rural pathway.

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 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.