IT Report: Philippines | KPMG | PH

IT Report: Philippines

IT Report: Philippines

IT Report Philippines highlights the dynamism of the IT-BPM industry which has proven to be among the country’s economic game changers during the past 20 years or so and will continue to provide support for strong growth in the years to come. We explore the growing sectors such as Information Technology (IT) development as well as emerging new sectors within the industry such as telemedicine, health management information systems, and financial technology, all of which emphasizes that IT-BPM remains an important leg for the Philippine economy to stand on.


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IT Reports Philippines

From "sick man of Asia" to fastest-growing in Asia

Most millenials probably have no idea that the Philippines was once known as "the sick man of Asia". There is no timeline when this tag ceased, but it seems nobody has used it since the Philippines finally and permanently retired its debt with the International Monetary Fund (IMF) in 2007, ending four decades of what many benignly considered "a period of tutelage" with the Fund. In 2010, the country became a net creditor and two years later, contributed US$1 billion to the IMF support package for economies experiencing financial crisis. It was a major turnaround for any country.

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