Philippines Economy in ‘Sweet Spot’

A recent interview with Australia-based ANZ Bank Chief Economist Paul Gruenwald signaled good news for direct selling companies doing business in The Philippines: the country’s economy is in a sweet spot, and the future outlook is favorable.

“We’re quite positive on The Philippines,” said Gruenwald. “I just got back from a trip to New York. Investors are very interested. We see an economy that is quite in a sweet spot. We’ve got growth very strong at 5-6 percent and inflation under control.”

Gruenwald noted two structural developments that have led to the favorable outlook: the Aquino government’s efforts to improve public finances and expenditures, and the booming business process outsourcing industry. He also notes that while The Philippines is not entirely insulated from fallout of the euro zone debt crisis and slowing global economy, the country may be stronger than the more open economies of Singapore and Hong Kong.

The Philippines is home to several American-based direct selling companies, including Amway, Avon, Forever Living Products, 4 Life Research, GNLD International, Herbalife, Mary Kay, Nikken, Nu Skin, Reliv and Tupperware Brands.

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