FURTHER analysis of the AHK World Business Outlook Survey for Spring 2024 revealed a promising outlook for businesses engaged in German-Philippine economic ties, particularly when compared to Asean peers and the global landscape. However, the study also highlighted certain risks that need to be addressed to sustain this positive momentum.
FURTHER analysis of the AHK World Business Outlook Survey for Spring 2024 revealed a promising outlook for businesses engaged in German-Philippine economic ties, particularly when compared to Asean peers and the global landscape.
Currently, half of the respondents reported a satisfactory business situation, while 61 percent forecast optimistic business development over the next 12 months. When compared with its Asean counterparts, the Philippines stood out with superior results across the board. Furthermore, in global comparisons, the country excelled in local economic development and employment, with the latter consistently ranking highest since the Fall 2023 survey.
Stacked with Asean neighbors, the Philippines exhibited heightened concerns on infrastructure, energy costs, and legal certainty. Notably, infrastructure issues remained the most vital challenge for the country when compared on a global scale.
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