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== Economy == {{Main|Economy of the Philippines}} The Philippine economy is the world's [[List of countries by GDP (nominal)|34th largest]], with an estimated {{as of|2025|bare=yes}} nominal [[gross domestic product]] of {{currency|507.7 billion|USD|linked=no|passthrough=yes}}.<ref name="IMFWEO.PH">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/April/weo-report?c=566,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2029&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, April 2024 Edition. (Philippines) |publisher=[[International Monetary Fund]] |date=April 16, 2024 |access-date=April 17, 2024 |archive-date=April 16, 2024 |archive-url=https://web.archive.org/web/20240416221054/https://www.imf.org/en/Publications/WEO/weo-database/2024/April/weo-report?c=566,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2029&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |url-status=live}}</ref> As a [[newly industrialized country]],<ref name="FederalRegister-Vol78" /><ref>{{cite book |editor-last1=Yu Chang |editor-first1=Albert Vincent Y. |url=https://books.google.com/books?id=N9Ii3nTZ37AC |title=A Legal Guide to Doing Business in the Asia-Pacific |editor-last2=Thorson |editor-first2=Andrew |date=2010 |publisher=[[American Bar Association]] |location=Chicago, Ill. |isbn=978-1-60442-843-8 |page=[https://books.google.com/books?id=N9Ii3nTZ37AC&pg=PA288 288]}}</ref> the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.<ref name="FederalRegister-Vol78">{{cite journal |url=https://books.google.com/books?id=EIG4iINKSOgC |journal=Federal Register |title=Commercial Setting: The Philippines |date=March 15, 2013 |publisher=[[Office of the Federal Register]], National Archives and Records Service, [[General Services Administration]] |volume=78 |issue=51 |page=[https://books.google.com/books?id=EIG4iINKSOgC&pg=PA16468 16468]}}</ref><ref>{{Cite press release |date=January 26, 2023 |title=GDP Expands by 7.2 Percent in the Fourth Quarter of 2022, and by 7.6 Percent in Full-year 2022 |url=https://psa.gov.ph/national-accounts |archive-url=https://web.archive.org/web/20230130010406/https://psa.gov.ph/national-accounts |archive-date=January 30, 2023 |access-date=March 13, 2023 |publisher=[[Philippine Statistics Authority]]}}</ref> The country's labor force was around 50 million {{as of|2023|lc=y}}, and its [[List of sovereign states by unemployment rate|unemployment rate]] was 3.1 percent.<ref name="PSAGovPH-UnemploymentDec2023">{{Cite press release |last=Mapa |first=Dennis S. |author-link1=Dennis Mapa |title=Unemployment Rate in December 2023 was Estimated at 3.1 Percent |url=https://psa.gov.ph/content/unemployment-rate-december-2023-was-estimated-31-percent |archive-url=https://web.archive.org/web/20240207091631/https://psa.gov.ph/content/unemployment-rate-december-2023-was-estimated-31-percent |archive-date=February 7, 2024 |publisher=[[Philippine Statistics Authority]] |url-status=live}}</ref> Gross international reserves totaled {{currency|103.406 billion|USD|linked=no|passthrough=yes}} {{as of|2024|January|lc=y}}.<ref>{{#invoke:cite|web|title=Gross International Reserves |url=https://www.bsp.gov.ph/Statistics/sdds/table12_data.aspx |archive-url=https://web.archive.org/web/20240215120950/https://www.bsp.gov.ph/Statistics/sdds/table12_data.aspx |archive-date=February 15, 2024 |publisher=[[Bangko Sentral ng Pilipinas]] |url-status=live}}</ref> [[Debt-to-GDP ratio]] decreased to 60.2 percent at the end of 2023 from a 17-year high 63.7 percent at the end of the third quarter of that year, and indicated resiliency during the [[COVID-19 pandemic in the Philippines|COVID-19 pandemic]].<ref>{{#invoke:cite|news|last=Gonzalez |first=Anna Leah |title=PH debt-to-GDP improves in 2023 |work=[[Philippine News Agency]] |url=https://www.pna.gov.ph/articles/1217973 |archive-url=https://web.archive.org/web/20240131074513/https://www.pna.gov.ph/articles/1217973 |archive-date=January 31, 2024 |url-status=live}}</ref> The country's unit of [[currency]] is the [[Philippine peso]] (₱<ref>{{#invoke:cite|book|section=Executive Order No. 66 |title=Executive Orders and Proclamations Issued by the Governor-General [1903] |date=August 3, 1903 |url=https://quod.lib.umich.edu/p/philamer/ACD6603.1903.001/91 |archive-url=https://web.archive.org/web/20200817095343/https://quod.lib.umich.edu/p/philamer/ACD6603.1903.001/91 |archive-date=August 17, 2020 |access-date=August 17, 2020 |page=89 |publisher=Bureau of Public Prints}}</ref> or PHP<ref>{{#invoke:cite|web|date=August 29, 2018 |title=List one: Currency, fund and precious metal codes |url=https://www.currency-iso.org/dam/downloads/lists/list_one.xls |archive-url=https://web.archive.org/web/20200511031332/https://www.currency-iso.org/dam/downloads/lists/list_one.xls |archive-date=May 11, 2020 |access-date=August 17, 2020 |publisher=[[International Organization for Standardization|ISO 4217 Maintenance Agency]] |format=XLS}}</ref>).<ref>{{cite report |last=International Monetary Fund. Monetary and Capital Markets Department |url=https://www.elibrary.imf.org/downloadpdf/book/9781451942804/9781451942804.pdf |title=Annual Report on Exchange Arrangements and Exchange Restrictions 1999 |date=September 17, 1999 |publisher=[[International Monetary Fund]] |location=Washington, D.C. |isbn=978-1-4519-4280-4 |page=683 |access-date=April 17, 2023 |archive-url=https://web.archive.org/web/20230409193323/https://www.elibrary.imf.org/downloadpdf/book/9781451942804/9781451942804.pdf |archive-date=April 9, 2023}}</ref> The Philippines is a net importer,<ref name="ILOOrg-2019" />{{rp|pages=55–56,61–65,77,83,111}}<ref>{{#invoke:cite|news|last1=Gadon |first1=Bernadette Therese M. |title=2021 trade deficit widest in 3 years |url=https://www.bworldonline.com/top-stories/2022/04/22/443881/2021-trade-deficit-widest-in-3-years/ |access-date=April 22, 2023 |work=[[BusinessWorld]] |date=April 21, 2022 |archive-url=https://web.archive.org/web/20220421200131/https://www.bworldonline.com/top-stories/2022/04/22/443881/2021-trade-deficit-widest-in-3-years/ |archive-date=April 21, 2022}}</ref> and a [[Net international investment position|debtor nation]].<ref>{{#invoke:cite|news|year=2022|title=Philippines Net International Investment Position |publisher=CEIC |url=https://www.ceicdata.com/en/indicator/philippines/net-international-investment-position |access-date=May 2, 2023 |archive-url=https://web.archive.org/web/20230311060132/https://www.ceicdata.com/en/indicator/philippines/net-international-investment-position |archive-date=March 11, 2023}}</ref> {{as of|2020}}, the country's main export markets were China, the United States, Japan, Hong Kong, and Singapore;<ref name="OECWorld-PH">{{#invoke:cite|web|title=Philippines (PHL) Exports, Imports, and Trade Partners |url=https://oec.world/en/profile/country/phl |archive-url=https://web.archive.org/web/20221205044653/https://oec.world/en/profile/country/phl |archive-date=December 5, 2022 |access-date=February 26, 2023 |publisher=[[Observatory of Economic Complexity]] |language=en}}</ref> primary exports included [[integrated circuit]]s, office machinery and parts, electrical transformers, insulated wiring, and [[semiconductor]]s.<ref name="OECWorld-PH" /> Its primary import markets that year were China, Japan, South Korea, the United States, and Indonesia.<ref name="OECWorld-PH" /> Major export crops include [[Coconut production in the Philippines|coconuts]], [[Banana industry#Production and export|bananas]], and [[List of countries by pineapple production|pineapples]]; it is the world's largest producer of [[abaca]],<ref name="Boquet-2017" />{{rp|pages={{plain link|url=https://books.google.com/books?id=90C4DgAAQBAJ&pg=PA226|name=226–242}}}} and was the world's second biggest exporter of [[nickel|nickel ore]] in 2022,<ref>{{#invoke:cite|news|url=https://www.bloomberg.com/news/articles/2023-01-30/philippines-may-tax-nickel-exports-to-follow-indonesia-s-success#xj4y7vzkg |url-access=subscription |title=Nickel Gets Fresh Supply Risk as Philippines Mulls Export Tax |last1=Serapio |first1=Manolo Jr. |last2=Calonzo |first2=Andreo |date=January 30, 2023 |work=[[Bloomberg News|Bloomberg]] |language=en |access-date=May 2, 2023 |archive-url=https://archive.today/20230131145135/https://www.bloomberg.com/news/articles/2023-01-30/philippines-may-tax-nickel-exports-to-follow-indonesia-s-success |archive-date=January 31, 2023}}</ref> as well as the biggest exporter of gold-clad metals and the biggest importer of [[copra]] in 2020.<ref name="OECWorld-PH" /> [[File:0123jfCalipahan Sicsican Rice Fields San Pascual Talavera Ecijafvf 04.JPG|thumb|alt=Two people planting rice plants in water|Filipinos planting rice. [[Agriculture in the Philippines|Agriculture employed 24 percent of the Filipino workforce]] {{As of|2022|lc=y}}.<ref name="PSAGovPH-UnemploymentDec2022">{{Cite press release |last=Mapa |first=Dennis S. |author-link1=Dennis Mapa |title=Employment situation as of December 2022 |url=https://psa.gov.ph/content/unemployment-rate-december-2022-estimated-43-percent |archive-url=https://web.archive.org/web/20230208062354/https://psa.gov.ph/content/unemployment-rate-december-2022-estimated-43-percent |archive-date=February 8, 2023 |access-date=February 8, 2023 |publisher=[[Philippine Statistics Authority]]}}</ref>]] With an average annual growth rate of six to seven percent since around 2010, the Philippines has emerged as one of the world's fastest-growing economies,<ref>{{#invoke:cite|news|last1=Biswas |first1=Rajiv |title=Philippines amongst world's fastest growing emerging markets |url=https://www.spglobal.com/marketintelligence/en/mi/research-analysis/philippines-amongst-worlds-fastest-growing-emerging-markets-Mar23.html |access-date=April 2, 2023 |work=[[IHS Markit]] |date=March 10, 2023 |archive-url=https://web.archive.org/web/20230311221015/https://www.spglobal.com/marketintelligence/en/mi/research-analysis/philippines-amongst-worlds-fastest-growing-emerging-markets-Mar23.html |archive-date=March 11, 2023}}</ref> driven primarily by its increasing reliance on the service sector.<ref name=OECD-SMEPolicyIndex2018>{{cite book |title=SME Policy Index: ASEAN 2018: Boosting Competitiveness and Inclusive Growth |date=September 21, 2018 |chapter=The Philippines |pages=371–373 |publisher=[[OECD Publishing]]; [[Economic Research Institute for ASEAN and East Asia]] |location=Paris, France; Jakarta, Indonesia |isbn=978-92-64-30531-1 |url=https://www.oecd-ilibrary.org/development/sme-policy-index-asean-2018_9789264305328-en |chapter-url=https://www.oecd-ilibrary.org/docserver/9789264305328-22-en.pdf |access-date=May 12, 2023 |language=en |doi=10.1787/9789264305328-22-en |doi-access=free}}</ref> Regional development is uneven, however, with Manila (in particular) gaining most of the new economic growth.<ref>{{cite journal |type=Conference proceeding |date=2018 |title=Critical Perspectives on Federalism for Regional Development (Proceedings of the Third Annual Public Policy Conference 2017) |url=https://pidswebs.pids.gov.ph/CDN/PUBLICATIONS/pidsbk2018-appc2017.pdf |journal=Appc 2017 |location=Quezon City, Philippines |publisher=[[Philippine Institute for Development Studies]] |page=xvii |issn=2546-1761 |archive-url=https://web.archive.org/web/20230208162326/https://pidswebs.pids.gov.ph/CDN/PUBLICATIONS/pidsbk2018-appc2017.pdf |archive-date=February 8, 2023 |access-date=February 8, 2023}}</ref><ref>{{#invoke:cite|news|last=Fajardo |first=Fernando |date=March 5, 2014 |title=Poverty and regional development imbalance |newspaper=[[Philippine Daily Inquirer]] |url=http://cebudailynews.inquirer.net/22630/poverty-and-regional-development-imbalance |access-date=July 19, 2020 |archive-url=https://web.archive.org/web/20150222102526/http://cebudailynews.inquirer.net/22630/poverty-and-regional-development-imbalance |archive-date=February 22, 2015}}</ref> [[Remittance]]s from [[overseas Filipinos]] contribute significantly to the country's economy;<ref>{{cite journal |last1=Seriño |first1=Moises Neil V. |title=Effects of International Remittances on the Philippine Economy: A Cointegration Analysis |journal=DLSU Business & Economics Review |date=2012 |volume=21 |issue=2 |pages=47–48 |url=https://www.dlsu.edu.ph/wp-content/uploads/2019/10/EffectsofInternationalRemittancesonthePhilippineEconomy_ACointegrationAnalysis.pdf |access-date=April 30, 2023 |publisher=[[De La Salle University]] |oclc=855102346 |archive-url=https://web.archive.org/web/20230430132943/https://www.dlsu.edu.ph/wp-content/uploads/2019/10/EffectsofInternationalRemittancesonthePhilippineEconomy_ACointegrationAnalysis.pdf |archive-date=April 30, 2023}}</ref><ref name=OECD-SMEPolicyIndex2018 /> they reached a record {{currency|37.20 billion|USD|linked=no|passthrough=yes}} in 2023, accounting for 8.5 percent of GDP.<ref>{{#invoke:cite|news|last=Gonzalez |first=Anna Leah |title=OFW remittances hit all-time high in 2023 |work=[[Philippine News Agency]] |url=https://www.pna.gov.ph/articles/1218913 |archive-url=https://web.archive.org/web/20240215073743/https://www.pna.gov.ph/articles/1218913 |archive-date=February 15, 2024 |url-status=live}}</ref> The Philippines is the world's primary [[Business process outsourcing in the Philippines|business process outsourcing]] (BPO) center.<ref>{{#invoke:cite|news|date=December 2, 2010 |title=Phl overtakes India as world's BPO leader |work=[[The Philippine Star]] |url=https://www.philstar.com/business/2010/12/02/634901/phl-overtakes-india-worlds-bpo-leader |access-date=September 1, 2020 |archive-url=https://web.archive.org/web/20200901193030/https://www.philstar.com/business/2010/12/02/634901/phl-overtakes-india-worlds-bpo-leader |archive-date=September 1, 2020}}</ref><ref>{{cite book |last=Stevens |first=Andrew J. R. |series=Routledge Advances in Sociology |url=https://books.google.com/books?id=CZ0sAwAAQBAJ |title=Call Centers and the Global Division of Labor: A Political Economy of Post-Industrial Employment and Union Organizing |date=2014 |publisher=[[Routledge]] |location=New York, N.Y. |isbn=978-1-135-11868-6 |page=[https://books.google.com/books?id=CZ0sAwAAQBAJ&pg=PA1 1]}}</ref> About 1.3 million Filipinos work in the BPO sector, primarily in [[customer service]].<ref>{{cite book |editor-last1=Arenas |editor-first1=Guillermo |url=https://books.google.com/books?id=dFWYEAAAQBAJ |title=A New Dawn for Global Value Chain Participation in the Philippines |series=International Development in Focus |editor-last2=Coulibaly |editor-first2=Souleymane |date=2022 |publisher=[[World Bank Publications]] |location=Washington, D.C. |isbn=978-1-4648-1848-6 |pages=[https://books.google.com/books?id=dFWYEAAAQBAJ&pg=PA28 28–29] |language=en}}</ref> === Science and technology === {{Main|Science and technology in the Philippines|Philippine space program}} [[File:Head Quarters of the International Rice Research Institute in Los Baños - panoramio.jpg|thumb|alt=Modern, landscaped office building|Headquarters of the [[International Rice Research Institute]] in [[Los Baños, Laguna]]]] The Philippines has one of the largest agricultural-research systems in Asia, despite relatively low spending on agricultural research and development.<ref>{{cite journal |last=Baconguis |first=Rowena T. |date=February 14, 2022 |title=Agricultural Technology: Why Does the Level of Agricultural Production Remain Low Despite Increased Investments in Research and Extension? |url=https://think-asia.org/bitstream/handle/11540/14877/pidsdps2206.pdf?sequence=1 |journal=PIDS Discussion Paper Series |publisher=[[Philippine Institute for Development Studies]] |location=Quezon City, Philippines |oclc=1302730898 |page=6 |archive-url=https://web.archive.org/web/20230224005936/https://think-asia.org/bitstream/handle/11540/14877/pidsdps2206.pdf?sequence=1 |archive-date=February 24, 2023 |access-date=February 24, 2023 |via=Think Asia}}</ref><ref>{{cite report |last1=Stads |first1=Gert-Jan |last2=Faylon |first2=Patricio S. |last3=Buendia |first3=Leah J. |title=Key trends in agricultural R&D investments in the Philippines |url=https://ebrary.ifpri.org/digital/collection/p15738coll2/id/32328 |archive-url=https://archive.today/20230224011436/https://ebrary.ifpri.org/digital/collection/p15738coll2/id/32328 |date=March 2007 |archive-date=February 24, 2023 |access-date=February 24, 2023 |publisher=[[International Food Policy Research Institute]], [[Philippine Council for Agriculture, Aquatic, and Natural Resources Research and Development|Philippine Council for Agriculture, Forestry and Natural Resources Research and Development]]}}</ref> The country has developed new varieties of crops, including [[Rice production in the Philippines|rice]],<ref>{{cite book |type=Conference proceeding |editor-last1=Virmani |editor-first1=S. S. |url=https://books.google.com/books?id=xA1jRdqJJzcC |title=Advances in Hybrid Rice Technology: Proceedings of the 3rd International Symposium on Hybrid Rice, 14–16 November 1996, Hyderabad, India |editor-last2=Siddiq |editor-first2=E. A. |editor-last3=Muralidharan |editor-first3=K. |date=1998 |publisher=[[International Rice Research Institute]] |location=Los Baños, Laguna, Philippines |isbn=978-971-22-0115-8 |page=[https://books.google.com/books?id=xA1jRdqJJzcC&pg=PA341 341] |language=en}}</ref><ref>{{cite book |editor-last1=Ricroch |editor-first1=Agnès |url=https://books.google.com/books?id=VzkqBAAAQBAJ |title=Plant Biotechnology: Experience and Future Prospects |editor-last2=Chopra |editor-first2=Surinder |editor-last3=Fleischer |editor-first3=Shelby J. |date=July 11, 2014 |publisher=[[Springer Science+Business Media|Springer]] |location=Cham, Switzerland |isbn=978-3-319-06892-3 |page=[https://books.google.com/books?id=VzkqBAAAQBAJ&pg=PA256 256] |language=en}}</ref> coconuts,<ref>{{Cite encyclopedia |editor-last1=Cumo |editor-first1=Christopher |url=https://books.google.com/books?id=Ja7WAQAAQBAJ |encyclopedia=Encyclopedia of Cultivated Plants: From Acacia to Zinnia |volume=I: A–F |title=Coconut |date=April 25, 2013 |publisher=[[ABC-CLIO]] |location=Santa Barbara, Calif. |isbn=978-1-59884-775-8 |page=[https://books.google.com/books?id=Ja7WAQAAQBAJ&pg=PA298 298] |language=en}}</ref> and bananas.<ref>{{cite book |type=Conference proceeding |editor-last1=Molina |editor-first1=A. B. |editor-last2=Roa |editor-first2=V. N. |editor-last3=Maghuyop |editor-first3=M. A. G. |url=https://books.google.com/books?id=xnY61doEaJUC |title=Advancing banana and plantain R & D in Asia and the Pacific Vol. 10: Proceedings of the 10th INIBAP-ASPNET Regional Advisory Committee meeting held at Bangkok, Thailand, 10–11 November 2000 |date=2001 |publisher=[[International Network for the Improvement of Banana and Plantain]] |location=Los Baños, Laguna, Philippines |isbn=978-971-91751-5-5 |page=[https://books.google.com/books?id=xnY61doEaJUC&pg=PA53 53] |language=en}}</ref> Research organizations include the [[Philippine Rice Research Institute]]<ref>{{#invoke:cite|news|date=June 1, 2022 |title=Philippine Rice Research and Technological Advancements |work=[[BusinessMirror]] |url=https://businessmirror.com.ph/2022/06/01/nsic-okays-14-rice-varieties-developed-by-irri-philrice/ |access-date=February 19, 2023 |archive-url=https://web.archive.org/web/20220601083727/https://businessmirror.com.ph/2022/06/01/nsic-okays-14-rice-varieties-developed-by-irri-philrice/ |archive-date=June 1, 2022}}</ref> and the [[International Rice Research Institute]].<ref>{{#invoke:cite|web|title=Philippines |url=https://www.irri.org/where-we-work/countries/philippines |archive-url=https://web.archive.org/web/20190714103217/https://www.irri.org/where-we-work/countries/philippines |archive-date=July 14, 2019 |access-date=February 9, 2023 |publisher=[[International Rice Research Institute]] |language=en}}</ref> The [[Philippine Space Agency]] maintains the [[Philippine space program|country's space program]],<ref>{{cite book |editor-last1=Verspieren |editor-first1=Quentin |url=https://books.google.com/books?id=OQdZEAAAQBAJ |title=ASEAN Space Programs: History and Way Forward |editor-last2=Berthet |editor-first2=Maximilien |editor-last3=Coral |editor-first3=Giulio |editor-last4=Nakasuka |editor-first4=Shinichi |editor-last5=Shiroyama |editor-first5=Hideaki |date=January 12, 2022 |publisher=[[Springer Nature]] |location=Singapore |isbn=978-981-16-7326-9 |pages=[https://books.google.com/books?id=OQdZEAAAQBAJ&pg=PA57 57–58] |language=en}}</ref><ref>{{cite book |last=Kim |first=Doo Hwan |url=https://books.google.com/books?id=KUIoEAAAQBAJ |title=Global Issues Surrounding Outer Space Law and Policy |series=Advances in Public Policy and Administration (APPA) Book Series |date=2021 |publisher=IGI Global |location=Hershey, Pa. |isbn=978-1-7998-7409-6 |page=[https://books.google.com/books?id=KUIoEAAAQBAJ&pg=PA69 69] |language=en}}</ref> and the country bought its first [[List of Philippine satellites|satellite]] in 1996.<ref>{{#invoke:cite|news|date=July 25, 1996 |title=Mabuhay acquires Indon satellite; sets new orbit |page=9 |work=[[Manila Standard]] |url=https://news.google.com/newspapers?nid=1370&dat=19960725&id=9mUVAAAAIBAJ&pg=6158,3894648 |access-date=July 6, 2020 |archive-url=https://web.archive.org/web/20200728061150/https://news.google.com/newspapers?nid=1370&dat=19960725&id=9mUVAAAAIBAJ&pg=6158,3894648 |archive-date=July 28, 2020 |via=[[Google News]]}}</ref> [[Diwata-1]], its first [[Small satellite#Microsatellites|micro-satellite]], was launched on the United States' [[Cygnus (spacecraft)|Cygnus]] spacecraft in 2016.<ref>{{#invoke:cite|news|last=Ronda |first=Rainier Allan |date=March 24, 2016 |title=US aircraft with Philippines's first microsatellite launched into space |work=[[The Philippine Star]] |url=http://www.philstar.com/headlines/2016/03/24/1566175/us-aircraft-philippiness-first-microsatellite-launched-space |access-date=March 24, 2016 |archive-url=https://web.archive.org/web/20160327120259/http://www.philstar.com/headlines/2016/03/24/1566175/us-aircraft-philippiness-first-microsatellite-launched-space |archive-date=March 27, 2016}}</ref> The Philippines has a [[List of countries by smartphone penetration|high concentration]] of [[Mobile phone|cellular-phone]] users,<ref>{{cite journal |last1=Pertierra |first1=Raul |title=We Reveal Ourselves to Ourselves: The New Communication Media in the Philippines |journal=Social Science Diliman |date=June 2013 |volume=9 |issue=1 |page=25 |url=https://journals.upd.edu.ph/index.php/socialsciencediliman/article/view/3920/3573 |access-date=July 1, 2023 |publisher=[[University of the Philippines]] |issn=1655-1524 |archive-url=https://web.archive.org/web/20170225214150/https://journals.upd.edu.ph/index.php/socialsciencediliman/article/view/3920/3573 |archive-date=February 25, 2017}}</ref> and a high level of [[mobile commerce]].<ref>{{#invoke:cite|news|last=Teves |first=Oliver |date=September 29, 2007 |title=Cell phones double as electronic wallets in Philippines |work=[[USA Today]] |agency=[[Associated Press]] |url=https://www.usatoday.com/tech/wireless/phones/2007-09-29-philippines-cell-phones_N.htm |access-date=February 9, 2023 |archive-url=https://web.archive.org/web/20071025035722/https://www.usatoday.com/tech/wireless/phones/2007-09-29-philippines-cell-phones_N.htm |archive-date=October 25, 2007}}</ref> [[Text messaging]] is a popular form of communication, and the nation sent an average of one billion [[SMS]] messages per day in 2007.<ref>{{#invoke:cite|news|last=Francisco |first=Rosemarie |date=March 4, 2008 |title=Filipinos sent 1 billion text messages daily in 2007 |language=en |newspaper=[[Philippine Daily Inquirer]] |agency=[[Reuters]] |url=http://technology.inquirer.net/infotech/infotech/view/20080304-122775/Filipinos-sent-1-billion-text-messages-daily-in-2007 |access-date=February 9, 2023 |archive-url=https://web.archive.org/web/20080308115828/http://technology.inquirer.net/infotech/infotech/view/20080304-122775/Filipinos-sent-1-billion-text-messages-daily-in-2007 |archive-date=March 8, 2008}}</ref> The [[Telecommunications in the Philippines|Philippine telecommunications industry]] had been dominated by the [[PLDT]]-[[Globe Telecom]] duopoly for more than two decades,<ref>{{#invoke:cite|news|last1=Elliott |first1=Vittoria |last2=Deck |first2=Andrew |date=November 2, 2020 |title=Duterte, Dito, and the Duopoly |work=Rest of World |url=https://restofworld.org/2020/duterte-dito-and-the-duopoly/ |access-date=February 23, 2023 |archive-url=https://web.archive.org/web/20201102142904/https://restofworld.org/2020/duterte-dito-and-the-duopoly/ |archive-date=November 2, 2020}}</ref> and the 2021 entry of [[Dito Telecommunity]] improved the country's telecommunications service.<ref>{{#invoke:cite|news|last=Cuyco |first=Jan |date=July 1, 2022 |title=No longer a duopoly, Philippines' mobile market sees improved 4G, 5G availability – Ookla |work=[[The Philippine Star]] |url=https://www.philstar.com/business/2022/07/01/2192313/no-longer-duopoly-philippines-mobile-market-sees-improved-4g-5g-availability-ookla |access-date=February 23, 2023 |archive-url=https://web.archive.org/web/20220701073711/https://www.philstar.com/business/2022/07/01/2192313/no-longer-duopoly-philippines-mobile-market-sees-improved-4g-5g-availability-ookla |archive-date=July 1, 2022}}</ref> === Tourism === {{Main|Tourism in the Philippines}} [[File:Chocolate Hills and tourists.jpg|thumb|alt=People on an observation deck overlooking hills|Tourists at [[Chocolate Hills]], conical [[karst]] hills in [[Bohol]]]] The Philippines is a popular retirement destination for foreigners because of its climate and low cost of living.<ref>{{#invoke:cite|news|last=Frost |first=Charles |date=May 31, 2015 |title=Best Place to Retire |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/best-places-to-retire-abroad-the-philippines-1432827258 |access-date=July 6, 2020 |archive-url=https://web.archive.org/web/20150601033128/https://www.wsj.com/articles/best-places-to-retire-abroad-the-philippines-1432827258 |archive-date=June 1, 2015}}</ref> The country's main tourist attractions are [[List of beaches in the Philippines|its numerous beaches]];<ref name="Woods-2006" />{{rp|page={{plain link|url=https://books.google.com/books?id=eajOEAAAQBAJ&pg=109|name=109}}}}<ref>{{cite journal |last1=Zafra |first1=Maria Angela G. |title=Developing the Philippine Blue Economy: Opportunities and Challenges in the Ocean Tourism Sector |url=https://www.adb.org/sites/default/files/publication/761906/adbi-wp1291.pdf |publisher=[[Asian Development Bank Institute]] |access-date=May 14, 2024 |archive-url=https://web.archive.org/web/20220104111713/https://www.adb.org/sites/default/files/publication/761906/adbi-wp1291.pdf |archive-date=January 4, 2022 |location=Tokyo, Japan |pages=8–9 |date=December 2021 |journal=ADBI Working Paper Series |issue=1291}}</ref> the Philippines is also a top destination for diving enthusiasts.<ref>{{cite book |editor-last1=Nordquist |editor-first1=Myron H. |url=https://books.google.com/books?id=Gny9DwAAQBAJ |title=Cooperation and Engagement in the Asia-Pacific Region |editor-last2=Moore |editor-first2=John Norton |editor-last3=Long |editor-first3=Ronán |date=November 11, 2019 |publisher=[[Brill Publishers|Brill]] |location=Leiden, Netherlands |isbn=978-90-04-41202-6 |page=[https://books.google.com/books?id=Gny9DwAAQBAJ&pg=PA72 72] |language=en}}</ref><ref>{{#invoke:cite|news|last=Rocamora |first=Joyce Ann L. |date=December 16, 2021 |title=PH still world's leading dive destination in 2021: WTA |language=en |work=[[Philippine News Agency]] |url=https://www.pna.gov.ph/articles/1162963 |access-date=February 19, 2023 |archive-url=https://web.archive.org/web/20211216093702/https://www.pna.gov.ph/articles/1162963 |archive-date=December 16, 2021}}</ref> [[List of tourist attractions in the Philippines|Tourist spots]] include [[Boracay]], called the best island in the world by ''[[Travel + Leisure]]'' in 2012;<ref>{{#invoke:cite|news|last=Malig |first=Jojo |date=July 9, 2012 |title=Boracay named 2012 world's best island |work=[[ABS-CBN News]] |url=https://news.abs-cbn.com/lifestyle/07/06/12/boracay-named-2012-worlds-best-island |access-date=February 9, 2023 |archive-url=https://web.archive.org/web/20160218054435/https://news.abs-cbn.com/lifestyle/07/06/12/boracay-named-2012-worlds-best-island |archive-date=February 18, 2016}}</ref> [[Coron, Palawan|Coron]] and [[El Nido, Palawan|El Nido]] in Palawan; [[Cebu]]; [[Siargao]], and [[Bohol]].<ref>{{#invoke:cite|news|last=Zubiri |first=Stephanie |date=November 18, 2022 |title=Beyond the beaches: five adventure experiences in the Philippines |language=en-gb |work=[[National Geographic]] |url=https://www.nationalgeographic.co.uk/travel/bc/2022/11/beyond-the-beaches-five-unusual-experiences-in-the-philippines |access-date=February 20, 2023 |archive-url=https://web.archive.org/web/20221128091050/https://www.nationalgeographic.co.uk/travel/bc/2022/11/beyond-the-beaches-five-unusual-experiences-in-the-philippines |archive-date=November 28, 2022}}</ref> Tourism contributed 5.2 percent to the Philippine GDP in 2021 (lower than 12.7 percent in 2019, before the COVID-19 pandemic),<ref>{{#invoke:cite|news|last=Ochave |first=Revin Mikhael D. |date=June 21, 2022 |title=Philippine tourism industry seen to reach pre-pandemic levels by 2024 |work=[[BusinessWorld]] |url=https://www.bworldonline.com/top-stories/2022/06/22/456578/philippine-tourism-industry-seen-to-reach-pre-pandemic-levels-by-2024/ |access-date=November 11, 2022 |archive-url=https://web.archive.org/web/20220621174641/https://www.bworldonline.com/top-stories/2022/06/22/456578/philippine-tourism-industry-seen-to-reach-pre-pandemic-levels-by-2024/ |archive-date=June 21, 2022}}</ref> and provided 5.7 million jobs in 2019.<ref>{{#invoke:cite|news|date=October 21, 2020 |title=Inbound int'l tourism may pick up starting late 2021 |work=[[BusinessWorld]] |url=https://www.bworldonline.com/editors-picks/2020/10/22/324125/inbound-intl-tourism-may-pick-up-starting-late-2021/ |access-date=November 11, 2022 |archive-url=https://web.archive.org/web/20221111072858/https://www.bworldonline.com/editors-picks/2020/10/22/324125/inbound-intl-tourism-may-pick-up-starting-late-2021/ |archive-date=November 11, 2022}}</ref> The Philippines attracted 5.45 million international visitors in 2023, 30 percent lower than the 8.26 million record in pre-pandemic 2019; most tourists came from South Korea (26.4 percent), United States (16.5 percent), Japan (5.6 percent), Australia (4.89 percent), and China (4.84 percent).<ref>{{#invoke:cite|news|last1=Arnaldo |first1=Ma. Stella F. |title=International tourists spent $8.69 billion in PHL in 2023–DOT |url=https://businessmirror.com.ph/2024/01/03/international-tourists-spent-8-69-billion-in-phl-in-2023-dot/ |access-date=January 3, 2024 |work=[[BusinessMirror]] |date=January 3, 2024 |archive-url=https://web.archive.org/web/20240102185145/https://businessmirror.com.ph/2024/01/03/international-tourists-spent-8-69-billion-in-phl-in-2023-dot/ |archive-date=January 2, 2024}}</ref>
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