The year 2016 was a great period for Philippines in the field of
consumer lending which recorded a massive growth. The presidential
elections in 2016 led to political stability and consumers had more
confidence to take consumer loans. When the global market was highly
volatile, consumer lending in the Philippines was an attractive
destination with its strong consistently growing economic and financial
systems that operate in a safe and sound approach.
The new government has focussed on tax system and introduced a tax reform program that helped the country’s economic growth with respect to consumer lending. The World Bank signified that the Philippine financial market system will grow rapidly due to its consumer confidence and transparency of building regulations. According to research report “Consumer Lending in the Philippines”, country’s robust banking system is crucial in the consumer lending field where it ensures stability and rapid growth in the country’s economy. Thus, the Filipinos are now more confident to take more loans from the retail banks for automobile or domestic purpose.
The rapid growth in Philippine domestic economy has created more jobs which washed out poverty to some extent. The recent economic developments in Philippines was somewhat driven by the presidential elections. The fixed capital investment rose to 25.6%. There were vast opportunities in the field of construction, manufacturing and service sectors.
As per the economy growth statistics for the first quarter of 2017, it showed that the primary income for the nation slowed down by 3.9% and the gross national income has risen to 5.9%. The Philippines economy is aiming at a 6.5% to 7.5% GDP for the year 2017.
The services sector is the highest contributor to the growth of the nation’s economy. The industry sector stands second and agriculture sector stands in the third place. The IPP (Intellectual Property products) are outstanding with the growth contribution of 27.2%. The export and imported goods contributed 22.3% and 20.8% respectively.
The top level market analysis of the Filipino cards and payment sector are as follows:
Topics Covered in the report
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/consumer-lending-philippines/100761-93.html
Related reports
Consumer Lending in Vietnam
Consumer Lending in the US
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
The new government has focussed on tax system and introduced a tax reform program that helped the country’s economic growth with respect to consumer lending. The World Bank signified that the Philippine financial market system will grow rapidly due to its consumer confidence and transparency of building regulations. According to research report “Consumer Lending in the Philippines”, country’s robust banking system is crucial in the consumer lending field where it ensures stability and rapid growth in the country’s economy. Thus, the Filipinos are now more confident to take more loans from the retail banks for automobile or domestic purpose.
The rapid growth in Philippine domestic economy has created more jobs which washed out poverty to some extent. The recent economic developments in Philippines was somewhat driven by the presidential elections. The fixed capital investment rose to 25.6%. There were vast opportunities in the field of construction, manufacturing and service sectors.
As per the economy growth statistics for the first quarter of 2017, it showed that the primary income for the nation slowed down by 3.9% and the gross national income has risen to 5.9%. The Philippines economy is aiming at a 6.5% to 7.5% GDP for the year 2017.
The services sector is the highest contributor to the growth of the nation’s economy. The industry sector stands second and agriculture sector stands in the third place. The IPP (Intellectual Property products) are outstanding with the growth contribution of 27.2%. The export and imported goods contributed 22.3% and 20.8% respectively.
The top level market analysis of the Filipino cards and payment sector are as follows:
- There is a current and forecast value for any market in the Filipino cards and payment sector that includes credit, debit and charge cards.
- Handy details for all the cash transactions, checks and all payment cards.
- Payment methods and E-commerce market analysis
- Detail study of rules and regulations adopted by various banks applicable for the Filipino cards and payment industry.
Topics Covered in the report
- Philippines consumer lending market study
- Philippines consumer lending market analysis
- Philippine banking sector analysis
- Philippines plastic money market
- Philippines financial market
- Philippines consumer lending Industry,
- Philippines consumer lending Market Research Report,
- Philippines consumer lending Market Research,
- Philippines consumer lending Market Trends,
- Philippines consumer lending Market Share,
- Philippines consumer lending Market Growth,
- Philippines consumer lending Market Future,
- Philippines consumer lending Market analysis,
- Philippines consumer lending Market Developments,
- Philippines consumer lending Market Companies Revenue,
- Philippines consumer lending Market Outlook,
- Philippines consumer lending Market Size,
- Philippines consumer lending Industry Analysis,
- Philippines consumer lending Market Forecast,
- Philippines consumer lending Industry Report ,
- Philippines consumer lending Industry Research,
- Philippines consumer lending Market Outlook,
- Philippines consumer lending Market Future Projections,
https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/consumer-lending-philippines/100761-93.html
Related reports
Consumer Lending in Vietnam
Consumer Lending in the US
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
