Market Developments

MEDICAL TOURISM
is a rapidly growing industry in Singapore, Thailand, Malaysia and India. The Philippines is fast catching up with a $25.3-million revenue posted in 2010, with foreigners contributing 60 percent of the revenues.

In the same year, the health and wellness industry hit a record of US$ 2 trillion. Research also shows that the Philippines has an even bigger potential in attracting medical tourists because of its culture of hospitality, quality healthcare services, competent medical practitioners, and cheaper medical treatments.

source: http://www.mb.com.ph/articles/300457/centuria-medical-breaks-ground 012511

Investments in electronics

break all-time record at $2.32 B in 2010

MANILA, Philippines – Electronics investments in the country broke all time high record as fresh capital grew 380 percent in 2010 to $2.318 billion from $484 million in 2009, the Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI) reported.

“This is the highest in the Philippine semiconductor and electronics industry’s history,” SEIPI president Ernie Santiago said in a statement.

This is also the 7th year the industry hit over $1 billion in investments. The $1 billion investments in the industry were previously registered in the years 2007, 2000, 1997, 1996, 1995, 1994.

Santiago further said there were 100 companies that registered their investments in the country last year.

Of these firms, ten are expansions while the rest are new projects. It is expected that these investments will generate 24,552 new direct jobs which include engineers, technicians and operators.

As a rule of thumb, Santiago reported that every one direct job, there are seven indirect jobs created.

Santiago also reported that during the SEIPI meeting with President Benigno Aquino III last year, the industry expressed its desire to double up exports in six years - from $ 22 billion in 2009 to $50 billion in 2016.

The electronics industry exports had a strong start and encouraging finish in 2010.

Its exports this year, too, are expected to hit over $31 billion or at least $9 billion to $10 billion increase over its 2009 exports of $22 billion.

“The industry is bullish for 2011,” Santiago said noting that the electronics sector will continue to be the driver of growth of Philippine exports.

SEIPI is projecting 10% growth for 2011 as no global electronics ‘crash’ appears to be looming for early 2011, Santiago said.

SEIPI, the leading and the largest organization of foreign and Filipino semiconductor and electronics companies in the Philippines, will present the industry’s strong performance in 2010 and its promising outlook for 2011 during SEIPI New Year’s Fellowship Night on Friday, January 28, at M/S Philippines, Manila Hotel.

source: Bulletin, Jan 25 2011