Thursday, August 9, 2012

The Philippines - Becoming an Expat's Favorite Destination

Credit: Magellan &

The Philippines is catching up with its counterparts in the Pacific rim. It is currently the hotbed for growing interest of investors like Donald Trump, Paris Hilton and Versace.

It the last quarter of 2012, the economic growth climbed to 6.4 percent and Manila Stock Exchange is riding up to 20 per cent. Many western-based organizations have been settling-in at this Pacific island, the Philippines.

Tourism has increased tremendously and it is projected to increase. The Philippine government is working competitively in many areas to attract travelers and investors to the country. The likes of  personalities and investors such as Trump. Hilton and Versace started building their empires in Manila. 

With this trend, qualified expats will be approaching the island as a great destination for their employment or temporary assignments. Many qualified individuals will also plan to migrate there for permanent residency due to the cheaper cost of living in addition to the paradise amenities of many islands outside Manila. 

The Philippines is also being targeted by many Baby boomers as a retirement place. The American and Philippine government are establishing relationship that will foster an opportunity for many Americans to retire to such a paradise island. This remains to be seen, however. 

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