Philippines has been ranked 24th best place to live and work, just behind the US, which ranked 23rd, and ahead of China, which ranked 26th.
That’s according to the 2019 HSBC Expat’s annual survey, which is based on responses from more than 18,000 expats across 163 markets on three metrics: living, career opportunity, and family life.
A Forbes article cited the 2019 HSBC Expat’s annual survey that ranked the Philippines as the 24th best place to live and work, while the US ranked 23rd. China, on the other hand, ranked 26th.
That may come as a surprise to some for a couple of reasons. One of them is that the Philippines has a reputation for sending its own people overseas in droves rather than attracting foreigners who want to live and work there.
Forbes said Manila garnered a high ranking despite being mired in violence amid President Duterte’s drug war.
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“With its tropical climate and steadily growing economy, the Philippines is quickly becoming one of the most popular expat destinations in Southeast Asia, “ says the report.
Indeed, the Philippines economy has been booming in recent years.
The Philippines’ per-capita GDP was last recorded at an all-time high of 3,063 U.S. dollars in 2018, according to Tradingeconomics.com. And it’s expected to reach $3,277 by 2020. That’s well above the average of $1,653.98 for the period 1960-2018.
Filipinos are doing better in recent years when per-capita GDP is adjusted by purchasing power parity (PPP). That measure, too, reached a record 7,599.19 U.S. dollars in 2018, well above the average of $4969.71 for the period 1990-2018.
Source: Tradingeconomics.com 7/5/2019
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The Philippines, once dubbed as the sick man of Asia, has been enjoying strong growth over the past year, consistently buoyed by overseas Filipino remittances, the booming business process outsourcing sector and the strong services sector.
Meanwhile, the results of the expats survey should be interpreted with extreme caution. People surveyed are usually more affluent and better educated than the average immigrant, and they are on short assignments. This means that an overseas assignment may be seen as an “adventure.”
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And the Philippines is a good place for that, better than China, as other surveys confirm.
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This article first appeared on Forbes.
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