The share of foreign brands in the country’s franchising landscape is seen to increase in the coming years as the Philippines offers them a gateway to expanding into the Asian market, the head of an industry group said.
“Everyone wants to come into the Philippines because we’re English speaking, we’re a big market. We’re a gateway to Asia,” Philippine Franchise Association president Chris Lim told reporters on the sidelines of the Franchise Asia Philippines Expo 2023.
According to Trade Secretary Alfredo Pascual, around 90 percent of the 1,800 franchise brands in the Philippines are homegrown. Asked which countries have expressed the most interest in entering the Philippines, Lim cited mostly countries from Asia. “They see our market. You know, we’re a market of 100 million people. We’re English speaking at the same time. We’re very young, you know, an average age of about 24 years old, so they know that when they enter here they have customers for life,” Lim said.
“That’s why franchising has so much backward linkages to agriculture. That’s why we have two million people employed in franchising both directly and indirectly, because we try to make sure now, we try to source local when we can,” he added.
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