HSBC Expat’s annual survey has ranked the Philippines 24th among 163 markets globally, 2 spots ahead of China as the best place to live and work. Trump’s US placed one spot ahead the Philippines at 23rd.
Jumping up the ranks from 26th place last year, the Philippines seems to be one of the most preferred countries for the 18,000 expats who participated in the survey. The survey matrix includes living, career opportunity, and family life.
“With its tropical climate and steadily growing economy, the Philippines is quickly becoming one of the most popular expat destinations in Southeast Asia”, the report says. Foreign expats find the cost of living in the Philippines reasonable and relatively easier to relocate as Filipino are naturally friendly.
Ironically, this survey report may come as a surprise as the Philippines has a reputation being one of the countries whose blue collared workers and professionals flock to more developed countries as OFW (Overseas Filipino Workers) seeking more lucrative means of supporting their families back home. In the recent years, the Philippines has been under a spotlight under President Rodrigo Duterte’s drug war which resulted in a mix of opinions and emotions among Filipino citizens and the foreign community.
Despite several issues that may discourage an expat from possibly moving to the Philippines, the Philippine economy is bullish in recent years. According to Tradingeconomics.com, per-capita GDP was last recorded at an all-time high of $ 3,063 (US dollars) and is forecasted to go higher at $ 3,277 by 2020.
For a young nation with a fighting spirit that packs a punch like its modern national icon, Manny Pacquaio, a boxer turned senator who grew up in the slums of southern Philippines, the Philippines economy is set to a positive trajectory from being poor to star economy yet without losing the heart of champion, friendly and humble.