Inside the Philippines: July 2022

Macro Developments: Upgrades in GDP growth forecasts and downtrend in unemployment

HSBC and Moody’s raise Philippine GDP growth projections

Unemployment eases to the lowest level since the pandemic

Industry Watch: Outsourcing outperforms targets; office leasing sees uptick in demand

Philippines’ business process outsourcing (BPO) industry exceeded growth targets in 2021

Demand for office space increases in the first half of 2022 driven by take-up from the BPO sector

Going Public: Capital raising activity and a new real estate investment trust (REIT)

Capital raising in the local stock market amounted to USD 1.1B in the first half of 2022

First Steps: New Philippine President takes the helm

President Ferdinand Marcos Jr. has been sworn in as the Philippines 17th president

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