The Philippines Lean On E-commerce For Recovery After 3.4% US$12 Billion Contribution To The Country’s GDP in 2020
The badly hit brick-and-mortar is still struggling to recover, and the Philippines government leans on e-commerce to boost the country’s economy after its record-breaking contribution to the country’s GDP, according to the Philippine Department of Trade and Industry (DTI).
The Philippines was ranked second, behind Indonesia, in the region’s e-commerce adoption report, leading the country to adjust its targeted revenue to $17 billion in revenue, and target to support 750,000 new e-commerce enterprises in 2021, reaching all the way to 1 million new e-commerce enterprises in 2022.
The country’s 163 million mobile users, 76 million Facebook users, 12 million Twitter users, and 6.7 million Linkedin users, present an immense opportunity for platforms and brands alike, and according to Commercial Attache at the Philippine Trade and Investment Centre, the country is planning to create policy regulations and frameworks that seek to support key areas of the digital economy, implement concrete initiatives that provide stakeholders with the opportunity and capacity to participate in the industry, and digitalization of key government services.
Read more about how the Philippines are counting on the digital economy for fast recovery in the following link: