HOME  CBS Newsbreak

Remittances, investments, internet users key to PH growth, says investment expert



December 03, 2012 Monday
Corporate News

Remittances, investments, internet users key to PH growth, says investment expert


ONE more analyst has given a positive economic outlook for the Philippines. In her recent talk in Cebu, investment expert Corazon Guidote, who is also the senior vice president for the investor relations of SM Investments Corporation, said that the Philippines economy is relatively insulated from the financial turmoil in Western countries thanks to the international reserves from OFW remittances and investments as the country's GDP debt continues to decline.


Guidote also cited the burgeoning influence of the NetGen or Internet Generation, composed of individuals born from 1982 until the present, and who now make up 35% of the world population. Many NetGen members are in their twenties and are revolutionizing the world, and Guidote described them as independent, decisive, borderless and global thinkers. As consumers, Guidote said Pinoy NetGens are 'pro-consumers' who co-invent products and services with producers.


With the NetGen's spending power, Guidote also noted that Philippine retail, while perceived to be saturated, accounts for just a small fraction of household spending in the Philippines. In 2003, household spending per capita was just 2,863 per home, while for the first half of 2012, it grew to 6,442.


Even with Filipino household income per capita at an all time high, saving remains essential, and a "culture of saving" is now being espoused by several institutions, such as China Bank Savings (CBS).

With its motto Madaling Kausap, CBS offers personal and business services include deposit, consumer loans and trust services. For more information on CBS products, services and branches, visit their website at www.cbs.com.ph or call 9889555 for inquiries.


<<Go Back