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Why Philippines
The Philippine economy has been described as resilient. Despite the global food and fuel crises, gross domestic product (GDP) peaked at 7.1 percent in 2007 and continued to grow at 3.8 percent in 2008. The country was much less affected by the global financial debacle as compared to other countries: GDP slowed to 1.1 percent in 2009 but recovered to 7.3 percent in 2010, bucking all estimates. At the end of 2009, the Philippines graduated to the rank of ‘lower Middle-Income Country,’ which implies less reliance on aid and greater capacity to shape its own development.
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