MGT 1111 | SEC 4 | GRACE DADULFAZA

CHAPTER 1
GLOBALIZATION
MEMBERS:
GUEVARRA, ALETHEA
MAÑEBO, ISABELLA
RAMOS, SOFIA
RUDA,SHEENA
GLOBALIZATION
Globalization is the process by
which corporations or other
organizations gain worldwide
influence on a global scale.
WHAT BENEFITS DID
THE PHILIPPINES
EXPERIENCE WITH
GLOBALIZATION?
BENEFITS

Remittances
Trade from Tourism
Liberation Overseas Revenue
Filipino
Workers
(OFWs),
TRADE LIBERATION
Trade openness contributes to declining transportation
costs and enhanced information and communication
technologies, resulting in the development of complex
global value chains; this enables companies to better
manage their production operations (Dudley, 2017).
REMITTANCES FROM OFWS
As one of the world's major beneficiaries of remittances,
the Philippines received over 12% of its GDP through this
channel in 2008 (Ang et al., 2009). Remittances sent by
OFWs are a major source of income for many Filipino
households.
TOURISM REVENUE
According to statistics from the Philippine Statistics
Authority (2024), the tourist industry in the Philippines
saw its greatest ever growth in 2023, accounting for
8.6% of gross value added as assessed by Gross
Domestic Product (GDP) contribution. Inbound tourist
spending climbed the fastest, by 87.7%, to Php697.5
billion (US$11.9 billion) in 2023, while domestic tourism
expenditure increased by 72.3% to Php2.67 trillion
(US$45 billion) (Newsdesk, 2024).
WHAT NEGATIVE
EFFECTS DID THE
PHILIPPINES
EXPERIENCE WITH
GLOBALIZATION?
NEGATIVE EFFECTS

Psychological Impact of
brain drain
Child labor
Impact
PSYCHOLOGICAL IMPACT
This could lead the overseas Filipino workers (OFW) to
be separated from their families for a very long time.
The ones who are left behind especially their children
may experience the feeling of abandonment.
IMPACT OF BRAIN DRAIN
Since a lot of Filipinos are choosing to work in another
country for their future, this could lead to the impact of
brain drain. Brain drain is migration of an individual to
another nation and results in losing the skills needed in
the local area.
 CHILD LABOR
Children are said to be involved in labor due to
globalization. In fact, according to the 2011 Survey on
Children conducted by Philippines Statistics Authority
(PSA), there is a massive amount of 2.1 million between
the ages of seven and seventeen children here in our
country and 95% or more than a million of those
children are involved in risky work.
DID THE PHILIPPINES
EXPERIENCE NET
BENEFITS FROM
GLOBALIZATION
EXPLAIN
 NET BENEFITS
Globalization affected the Philippines in many ways.
One of them was opening the market to foreign trade
and increasing both capital flows and financial
integration.

In 2023, total exports accounted for 27% of the

country’s GDP. Services exports continue to be a
significant contributor to economic growth,
recording some of the strongest growth and
increasing its share of gross domestic product (GDP)
from 12% in 2022 to 13% in 2023.
 REFERNCES:
ANG, A. P., SUGIYARTO, G., & JHA, S. (2009, DECEMBER). REMITTANCES AND HOUSEHOLD BEHAVIOR IN THE PHILIPPINES. ADB.
HTTPS://WWW.ADB.ORG/SITES/DEFAULT/FILES/PUBLICATION/28401/ECONOMICS-WP188.PDF

DELORINO, M. (2024) EFFECTS OF GLOBALIZATION IN THE PHILIPPINE CONTEXT. SLIDESHARE.

HTTPS://WWW.SLIDESHARE.NET/SLIDESHOW/EFFECTS-OF-GLOBALIZATION-IN-THE-PHILIPPINE-CONTEXT/2
7889691

DUDLEY, W (2017): “BENEFITS AND CHALLENGES FOR GLOBALIZATION”, REMARKS FOR THE BOMBAY STOCK EXCHANGE.

REDILLAS, M. (2023). OFW PHENOMENON AND FAMILY PROBLEMS IN THE PHILIPPINES.

MARIAISQUIXOTIC. HTTPS://MARIAISQUIXOTIC.COM/OFW-PHENOMENON/

YOUNG, J. (2024). BRAIN DRAIN: DEFINITION, CAUSES, EFFECTS, AND EXAMPLES. INVESTOPEDIA.
HTTPS://WWW.INVESTOPEDIA.COM/TERMS/B/BRAIN_DRAIN.ASP#:~:TEXT=BRAIN%20DRAIN%20AN
%20THE%20EXODUS,MAKE%20UP%20FOR%20THE%20SHORTFALL.

MAJIDI, A. F. (2017). GLOBALIZATION AND ECONOMIC GROWTH: THE CASE STUDY OF DEVELOPING COUNTRIES. ASIAN ECONOMIC AND FINANCIAL REVIEW, 7(6), 589–599.
HTTPS://DOI.ORG/10.18488/JOURNAL.AEFR.2017.76.589.599

PSA. (2024, JUNE 18). PHILIPPINE TOURISM SATELLITE ACCOUNTS. REPUBLIC OF THE PHILIPPINES PHILIPPINES STATISTIC AUTHORITY.
HTTPS://PSA.GOV.PH/STATISTICS/TOURISM

NEWSDESK. (2024, JUNE 20). PSA: PHILIPPINE TOURISM INDUSTRY BOOKED HIGHEST EVER GROWTH IN 2023. IAG. HTTPS://WWW.ASGAM.COM/INDEX.PHP/2024/06/20/PSA-
PHILIPPINE-TOURISM-INDUSTRY-BOOKED-HIGHEST-EVER-GROWTH-IN-
2023/#:~:TEXT=THE%20PHILIPPINES’%20TOURISM%20INDUSTRY%20POSTED,FROM%20THE%20PHILIPPINE%20STATISTICS%20AUTHORITY.

THE IMPACT OF GLOBALIZATION ON THE PHILIPPINE ECONOMY. (2023, JANUARY 05). GRADESFIXER. HTTPS://GRADESFIXER.COM/FREE-ESSAY-EXAMPLES/THE-IMPACT-OF-
GLOBALIZATION-ON-THE-PHILIPPINE-ECONOMY/

PASCASIO, M. (2024, MAY 16). APPROVED INVESTMENT. PSA GOV. HTTPS://PSA.GOV.PH/STATISTICS/FOREIGN-INVESTMENTS

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