While the pandemic has placed extra strain on the Philippines’ health care system, increased awareness of health risks could lead to a spike in private insurance coverage. With around 415,000 recorded cases and 8000 virus-related deaths as of mid-November, 2020, the Philippines has been one of the hardest-hit countries in South-east Asia–despite the implementationof stringent…
The Philippines is experiencing a boom in digital banking as a result of the Covid-19 pandemic, with several digital-only banks announcing plans to enter the market and legacy banks rapidly upgrading their online offerings. East-West Banking Corporation, the country’s 11th-largest bank by assets, launched its own fully digital bank, Komo, in the third quarter of 2020. Furthermore, the state-owned…
Travel restrictions and the suspension of industrial activities around the world due to the Covid-19 pandemic have led to an unprecedented drop in global emissions. According to data from the Helsinki-based Integrated Carbon Observation System (ICOS), by the first week of April 2020 daily carbon emissions had fallen by 17% against mean 2019 levels, with some countries experiencing a 26% fall…
Although agricultural activities were permitted during the lockdown period in the Philippines, some farmers nevertheless saw their activities limited by various provincial restrictions. In Quezon province, for example, stricter measures were implemented in April 2020 that permitted residents in some areas to leave their homes only once per week – placing the harvest at risk of spoilage during…
In response to lockdowns initiated to stem the spread of Covid-19, fast-moving consumer goods (FMCG) manufacturers in the Philippines adopted new business strategies to overcome supply chain disruptions and meet shifting consumer demands. Indeed, the pandemic led FMCG companies to reassess input sources and re-evaluate the balance between efficiency and resilience. It is expected that these…
Tourism in the Asia-Pacific region has seen impressive growth in recent years, aided by cheaper air fares, an expanding consumer class and increased exposure brought about by improved internet connectivity. Although these developments have led to significant economic benefits for countries across the region, they have also had some negative consequences, particularly for the environment. Around…
The global tourism industry has been hit hard by the Covid-19 pandemic, as border closures and travel restrictions prevented tourists from venturing overseas. In emerging markets such as the Philippines the slump in international tourism took a heavy toll on local communities that depend on the industry for their livelihoods, as well as starved these countries of a vital source of foreign exchange.…
As the Philippines’ response to the Covid-19 pandemic began to take shape in the first half of 2020, it soon became clear that transport and infrastructure spending would be protected as a key driver of economic continuity and recovery. In an April outline of the socio-economic response, Carlos Dominguez, the secretary of finance, stated that the government would press on with its Build,…
As globalisation has increased, the world’s supply chains have become substantially more interconnected, and goods often have more stages to pass through before reaching the end consumer. From national lockdowns to closed airspace and land borders, Covid-19 resulted in unprecedented disruption to the mechanics of most economies, regardless of their size or stage of development. In particular,…
Faced with recession and uncertainty over the length of the pandemic, President Rodrigo Duterte’s administration is hoping that landmark projects under the P8trn-9trn ($159.1bn-179bn) Build, Build, Build (BBB) infrastructure plan can kick-start economic recovery. Supply & Demand The initial phase of the pandemic proved disruptive to global supply chains, leading to fears that the construction…
