Different Types of Industry

Construction Industry

• The Philippines’ booming economy and increasing population have

led to a growing demand for condominium for sale and house and lot
for sale. The country’s construction industry is one of its largest,
employing many people and contributing to economic growth.

• The construction industry in the Philippines is a $54.5 billion industry,

employing more than 45 million as of June 2021. This is one of the
most important sectors of the country’s economy, as it drives many
other industries, such as manufacturing and retail.
• The Philippines experiences typhoons yearly, which require the
reconstruction of damaged houses and buildings. This has increased
demand for new homes, commercial buildings, and infrastructure
projects such as roads and bridges.

Tourism Industry

• The Philippines is one of the most visited countries in Asia. Estimates

suggest that there were over 8 million visitors to the country before the
pandemic started. According to Philippine Statistics Authority, the
tourism industry accounts for 5.2% of the country’s gross domestic
product and employs approximately 4.9 million people in 2021, not to
mention all the jobs created by businesses that cater to tourists.
• The tourism sector also contributes to economic growth and development
through investment in infrastructure, food processing facilities, retail
outlets, and other businesses related to tourism, as well as increased
employment opportunities for locals.

• The Philippines has abundant natural resources, making it a perfect place

for outdoor activities such as surfing and diving. Many historical sites,
including museums and old buildings, offer insight into its rich history and
culture.
Manufacturing Industry

• The manufacturing industry is considered one of the top industries in the

Philippines as it continues to lead other sectors this year, with 65.5% of
total investments in the third quarter of 2021.
• The manufacturing industry is an umbrella term that encompasses all
processes and activities involved in turning raw materials into finished
goods. This includes anything from food processing to the production of
cars, computers, and even clothing.
• The Philippines has been a significant producer of garments, electronics,
footwear, and furniture. However, over the last decade or so, it has seen
its share of manufacturing decline as companies have moved their
operations to countries with lower labor costs, such as Bangladesh and Sri
Lanka.
Retail Industry

• The retail industry in the Philippines is one of the top industries because of its
size, diversity, and potential for growth.

• The Philippines has over 100 million people from whom the country can draw a
higher rate of consumer spending. Retailers in the Philippines employ over 4
million workers and create billions of dollars in revenue yearly through sales taxes
and income taxes paid by workers.

• The industry is also diverse, from small mom-and-pop shops to large chain stores
catering to different tastes. Many businesses sell food items like rice, fish sauce
and other household items such as soap or bleach powder. These products can
be found at any local store or market in any neighborhood across the country.

•
Energy Industry

• Strict lockdowns affected the energy sector which resulted in a steep

drop in electricity and fuel demands. However, the local power providers
have also taken quick steps to ease the financial impact on customers
such as lowering rates and extending payment windows.

• Furthermore, even during the pandemic, interest has also been

sustained in oil and gas exploration activities, as well as investment in
midstream infrastructure which is a positive indicator in terms of industry
developments for the longer term.
• Aside from that, excellent opportunities are present in the renewable
energy and natural gas sector. In the years to come, the Philippines is
poised to meet the increasing energy demand, as well as to help lighten
pressure on the national grid.

• In 2017, the Philippines earned recognition as the leading country in

developing Asian countries in Asia when it comes to solar energy
adoption and usage. And as solar energy continues to be a cheap
alternative to usual energy resources, the potential for expansion and
creating more businesses in the energy industry is very high–definitely a
piece of good news for those who want to invest in the Philippines,
particularly in this sector.
Agriculture Industry

• 2020 was not a good year for most industries. In Southeast Asia, natural
calamities affected agricultural production. The pandemic that affected the
world also left the key economic sectors in the Philippines crippled.
Despite these unfortunate events, the agriculture industry in the
Philippines managed to maintain positive growth in 2020. There is also a
bright outlook for Philippine agriculture this year.
• According to Director Glenn B. Gregorio of the Southeast Asian
Regional Center for Graduate Study and Research in Agriculture
(Searca), “It must be acknowledged that there were earlier production
growth targets that may not have been achieved. But being able to
maintain positive growth is an enduring story of resilience at a time when
it is needed the most.”
• Furthermore, he said that SEARCA keeps its hopes up that the
agriculture industry in the Philippines will experience significant growth
this year and will play a key role in socio-economic transformation
centered on the well-being of the farmers and their families.
Reference:

https://www.brittany.com.ph/blogs/top-list-of-industries-in-the-philippines/
https://citiglobal.com.ph/blog/ultimate-list-most-promising-industries-to-invest-
philippines-2021/