This statistic shows the share of economic sectors in the gross domestic product (GDP) in the Philippines from 2013 to 2023. In 2023, the share of agriculture in the Philippines' gross domestic product was 9.4 percent, industry contributed approximately 28.18 percent and the services sector contributed about 62.42 percent.

The Philippines Foodservice Market report segments the industry into Foodservice Type (Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants), Outlet (Chained Outlets, Independent Outlets), and Location (Leisure, Lodging, Retail, Standalone, Travel). Get five years of historical data alongside five-year market forecasts.

Abstract

This research was conducted in Philippines between May and December 2009 as part of the Enterprise Survey initiative.

The objective of the survey is to obtain feedback from enterprises in client countries on the state of the private sector as well as to help in building a panel of enterprise data that will make it possible to track changes in the business environment over time, thus allowing, for example, impact assessments of reforms. Through interviews with firms in the manufacturing and services sectors, the survey assesses the constraints to private sector growth and creates statistically significant business environment indicators that are comparable across countries.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90% of the questions objectively ascertain characteristics of a country’s business environment. The remaining questions assess the survey respondents’ opinions on what are the obstacles to firm growth and performance. The mode of data collection is face-to-face interviews.

Geographic coverage

National

Analysis unit

The primary sampling unit of the study is the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or the universe, covered in the Enterprise Surveys is the non-agricultural economy. It comprises: all manufacturing sectors according to the ISIC Revision 3.1 group classification (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this population definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities-sectors.

Kind of data

Sample survey data [ssd]

Sampling procedure

The sample for Philippines was selected using stratified random sampling. Three levels of stratification were used in this country: industry, establishment size, and region.

Industry stratification was designed in the way that follows: the universe was stratified into 6 manufacturing industries, 1 services industry -retail -, and two residual sectors. Each manufacturing industry had a target of 160 interviews. The services industry and the two residual sectors had a target of 120 interviews. For the manufacturing industries sample sizes were inflated by about 33% to account for potential non-response cases when requesting sensitive financial data and also because of likely attrition in future surveys that would affect the construction of a panel. An additional 85 interviews were added to the survey half way through the fieldwork. Targets were adjusted such that the manufacturing sectors' targets were increased to 160-180 interviews.

Size stratification was defined following the standardized definition for the rollout: small (5 to 19 employees), medium (20 to 99 employees), and large (more than 99 employees). For stratification purposes, the number of employees was defined on the basis of reported permanent full-time workers. This seems to be an appropriate definition of the labor force since seasonal/casual/part-time employment is not a common practice, except in the sectors of construction and agriculture.

Regional stratification was defined in four regions: National Capital Region excluding Manila; Manila; Region III; Region IV; and Metro-Cebu (Region VII). These are the largest population and economic centers of the Philippines. National Capital Region and Manila were split because of the large size of the National Capital Region. Metro-Cebu specifically was surveyed, rather than the whole of Region VII, for logistical reasons as this region is widespread and includes many remote and sparsely populated locations.

The sample frame used in the Philippines was obtained from the 2008 National Statistics Office of the Philippines (NSO) Register of Establishments. A key limitation in using this sample frame was the cost of access, which significantly limited the size of sample available for survey limitation. As a result of concerns over confidentiality, NSO also required that sample selection was done by 3 NSO in-house under instruction of the World Bank team in Washington D.C.This database contained the following information: -Name of the firm -Location -Contact details -ISIC code -Number of employees.

Given the impact that non-eligible units included in the sample universe may have on the results, adjustments may be needed when computing the appropriate weights for individual observations. The percentage of confirmed non-eligible units as a proportion of the total number of sampled establishments contacted for the survey was 16% (319 out of 2022 establishments). Breaking down by industry, the following numbers of establishments were surveyed: 15 (Food) - 166, 18 (Garments) - 154, 24 (Chemicals) - 162, 25 (Plastic & Rubber) - 163, 26 (Non-metallic mineral products) - 151, 31 & 32 (Electronics) - 164, Other manufacturing - 122, Retail & IT - 117, Other services - 127.

Mode of data collection

Face-to-face [f2f]

Research instrument

The current survey instruments are available: - Core Questionnaire + Manufacturing Module [ISIC Rev.3.1: 15-37] - Core Questionnaire + Retail Module [ISIC Rev.3.1: 52] - Core Questionnaire [ISIC Rev.3.1: 45, 50, 51, 55, 60-64, 72] - Screener Questionnaire.

The “Core Questionnaire” is the heart of the Enterprise Survey and contains the survey questions asked of all firms across the world. There are also two other survey instruments - the “Core Questionnaire + Manufacturing Module” and the “Core Questionnaire + Retail Module.” The survey is fielded via three instruments in order to not ask questions that are irrelevant to specific types of firms, e.g. a question that relates to production and nonproduction workers should not be asked of a retail firm. In addition to questions that are asked across countries, all surveys are customized and contain country-specific questions. An example of customization would be including tourism-related questions that are asked in certain countries when tourism is an existing or potential sector of economic growth.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90% of the questions objectively ascertain characteristics of a country’s business environment. The remaining questions assess the survey respondents’ opinions on what are the obstacles to firm growth and performance.

Cleaning operations

Data entry and quality controls are implemented by the contractor and data is delivered to the World Bank in batches (typically 10%, 50% and 100%). These data deliveries are checked for logical consistency, out of range values, skip patterns, and duplicate entries. Problems are flagged by the World Bank and corrected by the implementing contractor through data checks, callbacks, and revisiting establishments.

Response rate

Complete information regarding the sampling methodology, sample frame, weights, response rates, and implementation can be found in "Description of Philippines Implementation 2009" in "Technical Documents" folder.

Shakey's had the highest number of stores among full-service restaurants in the Philippines in 2023. The restaurant had 307 stores nationwide in that year. In contrast, Kenny Rogers had the least number of stores for the same year, with 80 stores nationwide.

Abstract

This survey was conducted in Philippines between November 2014 and May 2016, as part of the Enterprise Survey project, an initiative of the World Bank. The objective of the survey is to obtain feedback from enterprises on the state of the private sector as well as to help in building a panel of enterprise data that will make it possible to track changes in the business environment over time, thus allowing, for example, impact assessments of reforms. Through interviews with firms in the manufacturing and services sectors, the survey assesses the constraints to private sector growth and creates statistically significant business environment indicators that are comparable across countries. Only registered businesses are surveyed in the Enterprise Survey.

Data from 1,335 establishments was analyzed. Stratified random sampling was used to select the surveyed businesses. The data was collected using face-to-face interviews.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90% of the questions objectively ascertain characteristics of a country's business environment. The remaining questions assess the survey respondents' opinions on what are the obstacles to firm growth and performance.

Geographic coverage

Metro Manila, NCR excluding Manila, Metro Cebu, Central Luzon, and Calabarzon

Analysis unit

The primary sampling unit of the study is the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or universe of the study, is the non-agricultural economy. It comprises: all manufacturing sectors according to the group classification of ISIC Revision 3.1: (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities-sectors.

Kind of data

Sample survey data [ssd]

Sampling procedure

The sample was selected using stratified random sampling. Three levels of stratification were used in this country: industry, establishment size, and region.

Industry stratification was designed in the way that follows: the universe was stratified into five manufacturing industries and two services industries: Food and Beverages (ISIC Rev. 3.1 code 15), Garments (ISIC code 18), Non-metallic mineral products (ISIC code 26), Fabricated metal products (ISIC code 28), Other Manufacturing (ISIC codes 16,17, 19-25, 27, 29-37), Retail (ISIC code 52) and Other Services (ISIC codes 45, 50, 51, 55, 60-64, and 72).

Size stratification was defined following the standardized definition for the rollout: small (5 to 19 employees), medium (20 to 99 employees), and large (more than 99 employees).

Regional stratification for the Philippines ES was done across five regions: Metro Manila, NCR excluding Manila, Metro Cebu, Central Luzon, and Calabarzon.

The sample frame consisted of listings of firms from two sources: First, for panel firms the list of 1326 firms from the Philippines 2009 ES was used. Second, for fresh firms (i.e., firms not covered in 2009), economic census data from Philippines Statistics Authority (PSA) was used.

The quality of the frame was enhanced by the verification process conducted by OIJ Business Partners. However, the sample frame was not immune from the typical problems found in establishment surveys: positive rates of non-eligibility, repetition, non-existent units, etc.

Given the impact that non-eligible units included in the sample universe may have on the results, adjustments may be needed when computing the appropriate weights for individual observations. The percentage of confirmed non-eligible units as a proportion of the total number of sampled establishments contacted for the survey was 3.7% (135 out of 3,649 establishments).

Mode of data collection

Face-to-face [f2f]

Research instrument

The structure of the data base reflects the fact that two different versions of the survey instrument were used for all registered establishments. Questionnaires have common questions (core module) and respectfully additional manufacturing- and services-specific questions. The eligible manufacturing industries have been surveyed using the Manufacturing questionnaire (includes the core module, plus manufacturing specific questions). Retail firms have been interviewed using the Services questionnaire (includes the core module plus retail specific questions) and the residual eligible services have been covered using the Services questionnaire (includes the core module). Each variation of the questionnaire is identified by the index variable, a0.

Cleaning operations

Data entry and quality controls are implemented by the contractor and data is delivered to the World Bank in batches (typically 10%, 50% and 100%). These data deliveries are checked for logical consistency, out of range values, skip patterns, and duplicate entries. Problems are flagged by the World Bank and corrected by the implementing contractor through data checks, callbacks, and revisiting establishments.

Response rate

Survey non-response must be differentiated from item non-response. The former refers to refusals to participate in the survey altogether whereas the latter refers to the refusals to answer some specific questions. Enterprise Surveys suffer from both problems and different strategies were used to address these issues.

Item non-response was addressed by two strategies: a- For sensitive questions that may generate negative reactions from the respondent, such as corruption or tax evasion, enumerators were instructed to collect "Refusal to respond" (-8) as a different option from "Don't know" (-9). b- Establishments with incomplete information were re-contacted in order to complete this information, whenever necessary.

Survey non-response was addressed by maximizing efforts to contact establishments that were initially selected for interview. Attempts were made to contact the establishment for interview at different times/days of the week before a replacement establishment (with similar strata characteristics) was suggested for interview. Survey non-response did occur but substitutions were made in order to potentially achieve strata-specific goals.

The number of interviews per contacted establishments was 0.36. This number is the result of two factors: explicit refusals to participate in the survey, as reflected by the rate of rejection (which includes rejections of the screener and the main survey) and the quality of the sample frame, as represented by the presence of ineligible units. The number of rejections per contact was 0.34.

The statistic shows the distribution of employment in the Philippines by economic sector from 2013 to 2023. In 2023, 22.37 percent of the employees in the Philippines were active in the agricultural sector, 18.47 percent in industry and 59.16 percent in the services sector.

The Philippines ICT Market report segments the industry into By Type (IT Hardware, IT Software, IT Services, IT Infrastructure/Data Centers, IT Security/ Cybersecurity, Communication Services), By Enterprise Size (Small and Medium Enterprises, Large Enterprises), and By Industry Vertical (BFSI, IT & Telecom, Government, Retail & E-commerce, Manufacturing, Energy & Utilities, Others).

Philippines Retail Market is Segmented by Product Category (Food and Beverage, Personal and Household Care, and More), by Distribution Channel (Supermarkets / Hypermarkets, Convenience Stores, and More), by Retail Format (Modern Trade, Traditional Trade, and More), by Price Segment (Mass/Value, Premium, and Luxury), by Store Size (Large, Mid and More), by Region (Luzon, and More).

Abstract

The 2013 Survey on Information and Communication Technology (SICT) is one of the designated statistical activities undertaken by the Philippine Statistics Authority (PSA) to collect and generate information on the availability, distribution and access/utilization of ICT among establishments in the country.

The objectives of the 2013 SICT is to provide key measures of ICT access and use among establishments which will enable the assessment and monitoring of the digital divide in the country. Specifically, the survey aims to measure the following: - component of ICT resources and their utilization by establishments; - diffusion of ICT into establishments from various sources; - e-commerce transactions from data on e-commerce sales/revenue and purchases; - cellular mobile phone business transactions from data on sales/revenue; - estimate of the number of ICT workers in establishments; - methods of disposal of ICT equipment.

The SICT 2013 was a rider survey of the 2013 Annual Survey of Philippine Business and Industry.

Geographic coverage

Regional - "core" ICT and BPM industries are the regions National - "non-core" ICT industries

Analysis unit

An establishment, which is defined as an economic unit under a single ownership or control, i.e., under a single legal entity, engaged in one or predominantly one kind of economic activity at a single fixed location

Universe

The 2013 Survey on Information and Communication Technology (SICT) of Philippine Business and Industry covered all industries included in the 2013 Annual Survey of Philippine Business and Industry (ASPBI).

For the purpose of the survey, these industries were classified as core ICT industries and non-core ICT Industries. Core ICT industries were industries comprising the Information Economy (IE). The Information Economy is a term used to describe the economic and social value created through the ability to rapidly exchange information at anytime, anywhere to anyone. A distinctive characteristic of the information economy is the intensive use, by businesses of ICT for the collection, storage, processing and transmission of information. The use of ICT is supported by supply of ICT products from an ICT-producing sector through trade.

Information Economy is composed of the Information and Communication Technology Sector and Content and Media Sector. Industries comprising these two sectors are as follows: 1) Information and Communication Technology - ICT manufacturing industries - ICT trade industries - ICT service industries: - Software publishing - Telecommunication services - Computer programming, consultancy and related services - Data processing, hosting and related activities; web portals - Repair of computers and communication equipment 2) Content and Media - Publishing activities - Motion picture, video and television programme production, sound recording and music publishing activities - Programming and broadcasting activities

Kind of data

Sample survey data [ssd]

Sampling procedure

The 2013 SICT utilized the stratified systematic sampling design with five-digit PSIC serving as industry strata (industry domain) and the employment size as the second stratification variable.

There were only two strata used for the survey, as follows: TE of 20 and over and TE of less than 20.

The industry stratification for the 2013 SICT is the 5-digit PSIC for both the core ICT industries and for the non-core ICT industries. It has the same industry strata as that of the 2013 ASPBI.

Establishments engaged in the core ICT industries were completely enumerated, regardless of employment size.

The establishments classified in the non-core ICT industries and with total employment of 20 and over were covered on a 20 percent sampling basis for each of the industry domain at the national level. The minimum sample size is set to 3 establishments and maximum of 10 establishments per cell (industry domain).

However, when the total number of establishments in the cell is less than the set minimum sample size, all establishments in that cell were taken as samples.

Mode of data collection

Mail Questionnaire [mail]

Research instrument

The scope of the study includes: - general information about the establishment - information and communication technology (ICT) resources of the establishment - network channels - use of ICT resources, Internet - website of the establishment - e-commerce via internet - e-commerce via computer networks other than the internet - use of mobile phones in selling and other business operation - purchase and disposal of ICT equipment

Cleaning operations

Manual processing took place in Provincial Offices at a number of stages throughout the processing, including: - coding of some data items - editing of questionnaires - checking completeness of entries - consistency check among variables.

Data processing was done in Field Offices and Central Office.

Field Offices were responsible for: - online data encoding and updating - completeness and consistency edits - folioing of questionnaires.

Central Office was responsible for: - online validation - completeness and consistency checks - summarization - tabulation.

Response rate

The overall response rate for the 2013 SICT was 87.04 percent (9,562 of the 10,986 sample establishments). This included receipts of "good" questionnaires, partially accomplished questionnaires, reports of closed, moved out or out of scope establishments. Sample establishments under core ICT industries reported 89.96 percent response rate ( 5,421 out of 6,026 establishments) while non-core ICT industries response rate was 83.48 percent (3,633 out of 4,352 sample establishments). On the other hand, industries classified in Business Process Management (BPM) had a response rate of 83.55 percent (508 out of 608 establishments).

Sampling error estimates

Not computed

Data appraisal

Data estimates were checked with those from other related surveys or administrative data.

The Philippines has a steadily growing economy, with a gross domestic product (GDP) that reached over 461.62 billion U.S. dollars in 2024. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. The GDP of the Philippines is expected to increase substantially to over 757.67 billion U.S. dollars by 2030. The Philippines’ economy GDP of the Philippines has consistently grown at around six percent and is expected to remain constant through 2024. At the same time, the unemployment rate has fallen to about 2.5 percent in 2018, with an increasing amount of employment being within the services sector . Sectors of the economy The services sector is a significant economic sector in the Philippines economy, with a share of almost 60 percent in gross domestic product generation. Usually, a shift of GDP generation from agriculture to services is a sure sign of a growing economy - the same is true for the Philippines: Tourism and IT are industries within the services sector which has substantially contributed to the Philippines’ economic growth. The agriculture sector, although contributing to the Philippines’ export quantity, such as coconut oil and fruits, has declined over recent years, with more and more inhabitants moving to the cities to find work.

The Philippines Freight and Logistics Market Report is Segmented by End User Industry (Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, and More) and by Logistics Function (Courier, Express, and Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing and Storage, and Other Services). The Market Forecasts are Provided in Terms of Value (USD).

Jollibee was the leading limited-service restaurant in the Philippines in terms of sales value in 2023. In that year, the restaurant chain generated sales of approximately **** billion U.S. dollars. Its closest competitor, McDonald's, had total sales of about *** billion U.S. dollars that year. Bringing happiness in the Philippines and abroad  Known for its Jolly Spaghetti and Chickenjoy, Jollibee managed to maintain its position as the country’s largest fast-food chain brand, operating a network of 1,200 stores nationwide and close to a hundred locations abroad. Managed by the Jollibee Foods Corporation, the restaurant chain gradually expanded to various international locations in Southeast Asia, the Middle East, North America, and Europe. Two other limited-service restaurants owned by the Jollibee Foods Corporation made it to the list. The state of the country’s QSR industry As with other food service segments, the quick-service restaurant (QSR) industry in the Philippines recorded massive revenue losses in 2020. The decrease was attributed to the COVID-19 pandemic, which resulted in heightened social distancing measures, causing reluctance to visit restaurants among Filipinos. Limited dining capacity was also imposed to curb the infections, contributing to minimal revenue. The sales value of the QSR industry in the Philippines has shown improvement in 2023, even exceeding pre-pandemic sales.

In 2023, the largest food service company in the Philippines was Jollibee, with a market share of **** percent. This was followed by McDonald's Corp with a market share of **** percent.

The Southeast Asian nation of the Philippines is a popular travel destination due to the several islands that form its topography. Tourism is a thriving source of revenue for the country, with the transportation services sector contributing about *** billion Philippine pesos, which was the largest share of the industry's income in 2024. Post-COVID tourism recovery After the travel restrictions imposed in 2020 until the early months of 2022, the tourism sector in the Philippines has finally shown signs of recovery. International tourist arrivals reached about **** million in 2024, reflecting a gradual increase since 2021. Tourism receipts also surpassed 2019 values, with tourism from South Korea and the United States being the country's leading tourist markets. Despite the inbound tourism recovery, domestic tourism expenditures remained the biggest contributor to the industry's revenue. State of outbound tourism In comparison to inbound and domestic tourism, outbound travel contributes the lowest expenditure in the Philippines. Across the different tourism-characteristic industries, spending on outbound tourism was highest for accommodation services, followed by food and beverage. Between May and December 2024, popular destinations for Filipino tourists were Hong Kong, Singapore, and Japan.

Abstract

The Labor Turnover Survey (LTS) aims to generate quarterly data on labor turnover (accession and separation rates) as indicators of labor market activity in large business enterprises.

The information gathered in this survey is intended to generate timely labor market signals as sound basis in planning, policy formulation and decision making in goverment, business and industry.

Geographic coverage

National capital region

Analysis unit

Enterprise

Universe

The sampling frame for the 2016 LTS is an integrated list from enterprises culled from the 2015 List of Establishments in the NCR prepared by the Philippine Statistics Authority (PSA) and the updated sampling frames of LTS 2014 and LTS 2015. This comprises 16,194 business firms/enterprises with an employment size of at least 20.

Kind of data

Sample survey data [ssd]

Sampling procedure

The enterprise is the unit of enumeration in the LTS and it has for its sampling domain the eighteen (18) major industry groups (1-digit) based on the 2009 PSIC. The survey covered business enterprises located in the National Capital Region (NCR) to provide a quick and timely assessment of the labor market activity through a sample survey with manageable sample size given the limited budget. NCR accounts for one-third of the country's gross domestic product and about two-thirds of the total large business enterprises in the Philippines.

The sampling frame for the 2016 LTS is an integrated list from enterprises culled from the 2015 List of Establishment in the NCR prepared by the Philippine Statistics Authority (PSA) in coordination with Service and Industry Census Division (SICD) the updated sampling frames of LTS 2014 and LTS 2015. This comprises 16,194 business firms/enterprises with an employment size of at least 20. This list was obtained and updated prior to the conduct of LTS for the first quarter of 2016. The updated frame was used in the sample size determination and sample selection for the first quarter survey round. The same sample size was retained in all quarters of the year.

After each survey round, all enterprises that responded are automatically considered as samples for the next survey rounds. To fill up the lack in the computed sample size, samples will be drawn by industry from the updated sampling frame. In cases where there are no enterprises to sample in some industries, the total number of samples needed for these industries will be allocated proportionally to other industries with available samples.

The sample enterprises in each domain were drawn through simple random sampling.

Sampling deviation

Replacement of sample enterprise is done when the sampled enterprise falls in one of the following situation during the field operation: (1) cannot be located; (2) refuse to answer; (3) temporarily closed; (4) duplicate of another sample enterprise; (5) permanently closed; or (6) on strike.

Mode of data collection

Face-to-face [f2f]

Research instrument

The questionnaire contained the following information:

1. Name and Address of Enterprise

2. Main Economic Activity and Major Products/Goods or Services

3. Item of Information

I. Employment A. Total Employment ( Month 1. Month 2, Month 3)

II. Labor Turnover A. Total Accessions (New Hires) 1. Expansion 2. Replacement

B. Total Separation 1. Employee-initiated 2. Employer-initiated

III. Agency-hired Workers

IV. Existing Job Vacancies

1. Certification of Respondents

2. Survey Personnel

Response rate

1st Qtr - 96.59 % 2nd Qtr - 98.22 % 3rd Qtr - 97.33 % 4th Qtr - 100.00 %

In 2024, the Philippines’ inflation rate amounted to 3.21 percent. The Philippines are considered “newly industrialized”, but the economy relies on remittances from nationals overseas, and the services sector generates most of its GDP . Emerging and soon to develop?After switching from agriculture to services and manufacturing, the Philippines are now an emerging economy, i.e. the country has some characteristics of a developed nation but is not quite there yet. In order to transition into a developed nation, the Philippines must meet certain requirements, like being able to sustain their economic development, being very open to foreign investors, or maintaining a very high stability of the institutional framework (like law enforcement and the government). Only if these changes are irreversible can they be classified as a developed nation. The Philippines’ switch to servicesEver since the switch to services and manufacturing, employment in these areas has increased and the country is now among those with the highest employment in the tourism industry worldwide. This transition was not entirely voluntary but also due to decreasing government support, the liberalization of trade, and reform programs. Still, agriculture is important for the country: As of 2017, more than a quarter of Filipinos are still working in the agricultural sector, and urbanization has only increased very slightly over the last decade.