Why Europe Should Invest in PH's $2T Potential

The Philippines could achieve $2 trillion GDP status by 2050, according to Arsenio Balisacan, Secretary of the Department of Economic Planning and Development (DEPDev). However, he cautioned this growth trajectory depends on the nation successfully navigating external economic shocks, from geopolitical tensions to supply chain disruptions.

With its $392 billion economy now steadily advancing toward upper middle-income status, the Philippines is leveraging its key demographic advantage: a youthful population of 114 million (median age 27) to fuel sustainable growth.

He said the Philippines' economic transformation will be powered by a dual-track approach: developing new growth engines while strengthening traditional sectors, with world-class infrastructure serving as the foundation. According to economic planners, this transition not only requires massive infrastructure development but also depends on actively engaging private sector partners and attracting sustainable, inclusive investments to ensure broad-based prosperity.

At the heart of the government's economic strategy lies the Luzon Economic Corridor, a transformative initiative linking the key hubs of Subic, Clark, Manila, and Batangas. By prioritizing synchronized investments in logistics networks, energy security, and smart infrastructure, this corridor is rapidly becoming a launchpad for strategic industries—from agribusiness and semiconductor manufacturing to finance and trade.

"This isn't just a national project—it's Asia's next growth engine," declared NEDA Secretary Arsenio Balisacan during his address to European investors. "With the Philippines' strategic location, reform momentum, and 65% working-age population, there's never been a better time to partner with us.

The right place is the Philippines. The right time is now," Balisacan concluded, highlighting $14B in 2023 FDI inflows as proof of global confidence.