PH has 12,800 millionaires - Henley & Partners

Philippines now has 12,800 dollar millionaires - report

JON VIKTOR D. CABUENAS
GMA Integrated News 
24 June 2025

The number of millionaires in the Philippines has grown by 32% in the past decade, outpacing regional peers and major economies, a report by Henley & Partners—a global consultancy firm on residence and citizenship by investment—released on Tuesday showed.

According to Henley & Partners managing director Scott Moore, the Philippines now has an estimated 12,800 high-net-worth individuals (HNWIs) or millionaires with at least $1 million. This includes 70 centi-millionaires or individuals with liquid investable wealth of at least $100 million, and 12 billionaires.

“This consistent growth reflects the country’s emerging entrepreneurial class, its maturing financial markets, and its expanding real estate and services sectors,” he said.

“While it is not yet among the top destinations for incoming millionaires globally, the Philippines’ stability and growing wealth base stand out and create a strong foundation for future investment migration,” he added.

Compared with the top 10 countries in the world ranked by the number of resident millionaires or W10, the Philippines’ 32% growth has outpaced the average, and came in third behind the United States of America (78%), and China (74%).

“The Philippines is actually growing the amount of high-net-worth individuals at a very good pace and definitely above average if you’re comparing with W10 countries,” Moore said.

The report shows that the USA has the biggest concentration of millionaires, with 6.041 million, followed by China with 827,900, Germany with 781,900, Japan with 714,000, and the United Kingdom (UK) with 578,400.

France followed with 490,800; Australia with 391,000; Switzerland with 384,500; Canada with 378,600; and Italy with 318,200.

Net outflow

For 2025, Moore said the Philippines is expected to post a net outflow of 50 millionaires, most of whom are expected to move to the top 10 countries for net millionaire inflows, led by the United Arab Emirates (UAE) and the USA, as well as nearby countries such as Singapore.

“When any families are looking to relocate to other countries, generally they’re looking to have optionality for their families, for their children, for their businesses,” he said.

“Perhaps they’re looking to expand their businesses overseas, perhaps they see better work opportunities for themselves or their children in other countries, but again, the loss of 50 is very insignificant,” he added.

There are a total of 142,000 millionaires expected to migrate this year, with the top 10 destinations being the United Arab Emirates (UAE), USA, Italy, Switzerland, Saudi Arabia, Singapore, Portugal, Greece, Canada, and Australia, all of which have investment migration programs.

The biggest outflow is expected in the UK, with 16,500 millionaires this year. If realized, this would be the biggest single-year outflow after the implementation of major changes to its tax regime in 2024 and its decision to leave the European Union in 2020.

The biggest net outflow of millionaires within Asia is expected in China, with 7,800 exits; Vietnam, with 300; Indonesia, with 250; Lebanon and Iran, with 200 each; and Taiwan and Pakistan, with 100 each.

“The loss of 50 is very insignificant, but we’re comparing it to other countries in the region. I would say it’s much more worrying in Vietnam that’s losing 300 millionaires, Indonesia's 250,” Moore said.  — VBL, GMA Integrated News

Justine Malabanan representing the Philippines on the world stage

Justine Malabanan representing the Philippines on the world stage

The Manila Times
22 June 2025

In a world increasingly defined by global movements, digital revolutions, and cultural exchange, some Filipinos manage to shine not through fanfare, but through quiet force. Justine Therese Malabanan is one of them.

A Harvard MBA graduate, a former brand manager at Procter & Gamble and consultant at Boston Consulting Group, and currently a senior deployment lead at a global AI startup, Malabanan has built an impressive career across continents. Yet amid the whirlwind of multinational meetings and AI innovations, she continues to hold fast to something deeply personal: her Filipino identity.

"When I'm given a project at work, I make sure to give it my best not just for myself or my family, but also because I know that I represent my country," said Malabanan. "We're a growing group of Filipinos in tech in the US, and I want to make sure that if my peers' interaction with me is one of their first with a Filipino, they remember that we're reliable teammates who show what bayanihan means."

The global track, the Filipino way

Malabanan's story is not a typical tale of international ascent. Raised in the Philippines and educated at Miriam College and Ateneo de Manila University, she rose through the ranks on the strength of her intellect, integrity, and cultural rootedness. Her achievements span various domains: business case competitions, AI deployment, radio hosting, and even intercultural arts. But at the heart of her accomplishments is a persistent drive to serve as an ambassador of Filipino excellence.

At Harvard, her Filipino perspective gave her unique contributions during classroom discussions.

"There were two cases during my MBA where I felt a strong urge to speak up," she recalled. "One was about small package sizes in Asia. The tingi culture isn't uncommon to Filipinos, especially with sari-sari stores. What some classmates saw as environmentally unsustainable, I explained as a necessity in communities where people buy only what they can afford daily."

In another case, she questioned the long-standing effects of colonization, raising the possibility that had colonized nations been allowed to develop freely, they could have achieved the same breakthroughs attributed to their colonizers.

"Both cases led to healthy debate," she added, "but more importantly, they led to broader and more empathetic mindsets."

From the Philippines to the world

Malabanan's international journey began long before Harvard. In high school and college, she wrote for Heliophon, a Los Angeles-based magazine promoting intercultural dialogue. She was also the youngest junior jock at Magic 89.9, hosting a children's show streamed worldwide. She participated in global essay contests, was active in student exchange tours, and competed in international business case competitions.

In her professional life, she has worked in consulting with Boston Consulting Group, marketing with Procter & Gamble, and now, artificial intelligence. At every stop, she's found ways to share her culture.

"I bring up the rich history of the Philippines in conversations with co-workers," she said. "I try to introduce Filipino cuisine by taking friends to restaurants in New York, or by bringing Filipino snacks to the office."

More than this, she has always focused on impact.

"Across all of my roles, it's been important to me that I can tie my work to societal good," she explained. "When I was a senior brand manager of Tide in the Philippines, I knew I was helping people stay clean and safe during the pandemic. I was also supporting local laundromats and labanderas whose livelihoods depended on access to quality products."

A mindset rooted in home

Behind her global success lies the quiet strength of a loving home. Her parents, Rex and Christa Malabanan, recall Malabanan's curiosity from a very young age.

"During her toddler years, she would browse magazines and ask about the places and people," said Christa. "There was always this eagerness to know—not just what something is, but why it is."

That spirit of inquiry, coupled with a tireless work ethic, shaped her foundation.

"She wants to do everything the best way possible. She works hard to reach her goals. And she doubles the effort if needed," Christa added.

Their parenting philosophy was deliberate but gentle: emphasize process over praise, presence over pressure. "We didn't give extreme praise for achievements," said Rex. "Instead, we celebrated hard work, passion, and dedication. We were always there — not to solve problems for her, but to guide her in solving them herself."

Staying grounded in the fast lane

Today, Malabanan finds herself at the forefront of the AI revolution, managing international accounts in a company with team members across India, the US, and the UK. Despite the fast pace and high stakes, she stays rooted by values she holds close.

"In high-pressure environments, it's easy to get blinded by competition and success," she said. "I always try to anchor myself on humility, faith, and kindness. Humility lets me stay open to learning. Faith helps me to let go and let God. Kindness reminds me to support my peers the way I'd want to be supported."

Outside of work, her life is vibrant and textured: she cooks international cuisine, sings, cycles, ice skates, and volunteers for children's organizations.

"She used to sell her artwork to relatives," her parents shared. "She enjoys the process of competing — whether it's school, work, or the arts. For her, just being in the game is already a win."

Passing the torch

Malabanan is well aware that her journey can serve as a path for others.

"Many young Filipinos dream of contributing globally but don't always know where to start," she said. "Start small. Share your passions online. Join global competitions. Learn new languages. Be a bridge for cultures."

Her advice to the next generation is both poetic and empowering: "My two favorite quotes are: 'If your dreams don't scare you, they're not big enough' and 'Life shrinks and expands in proportion to one's courage.' I hope they strive to shoot for the moon and have the courage to build the rocket ship to get there. We're not settling for the stars."

Her parents echo a message of faith and resilience for other Filipino families: "Growth in the international arena could be challenging, especially for Asian women. But Justine proved that with faith, skills, and values, you can earn the respect of the world."

"Equip your child with the right skills. Nourish them with the right values. Love them unconditionally," Christa concluded. "To champion in faith is the ultimate gift."

In a world that is loud and fast-moving, Justine Malabanan is a reminder that the quiet force of purpose, identity, and integrity can carry the Filipino voice far and wide — and make it heard by everyone everywhere.

Adamson and Mapua universities secured spot in World University Ranking 2026

Adamson, Mapua make debut in 2026 QS World University Rankings

SHERYLIN UNTALAN

GMA Integrated News

19 June 2025

Six Philippine universities have secured spots in the latest Quacquarelli-Symonds (QS) World University Rankings 2026 as two more educational institutions made a debut. 

Adamson University and Mapúa University entered the global rankings for the first time.

Adamson landed in the 1,001–1,200 bracket while Mapúa was listed in the 1,401+ —joining the ranks of leading institutions worldwide and expanding the country’s academic presence on the global stage.

“This remarkable achievement reflects our unwavering commitment to quality education, global standards, and Vincentian excellence—ensuring accessible, transformative learning for all,” Adamson University said in a statement.

“Together, let’s continue to strive with purpose, serve with heart, and soar even higher as we shine brighter on the world stage.”

Mapúa University also celebrated the milestone in a Facebook post.

"Mapúa University makes a historic debut in the 2026 QS World University Rankings, securing a spot among the world’s top institutions… This milestone is a powerful testament to our unwavering commitment to global excellence in education,” it said.

While new entrants made headlines, the country’s “Big Four” universities continued to lead the national standings.

The University of the Philippines remained the country’s highest-ranked university, placing 362nd globally despite slipping from 336th last year.

Ateneo de Manila University recorded the only upward movement among Philippine schools, rising slightly to 511th from 516th worldwide.

“This latest performance in the QS World Rankings is a testament to the dedication and excellence of the entire Ateneo community,” said Ateneo president Fr. Roberto Yap, SJ in a statement.

“It affirms that Ateneo can stand alongside the world’s leading institutions—not just in academic reputation, but in making a meaningful impact through teaching, research, and service.”

De La Salle University (DLSU) placed third among Philippine schools at 654th, a slight drop from its previous placement in the 641–650 bracket.

The University of Santo Tomas (UST) held firm in the 851–900 bracket, maintaining its status as the fourth highest-ranked Philippine university. UST also posted an improved overall score of 19.9, with gains across all ten QS performance indicators.

The QS World University Rankings assesses institutions across a range of criteria, including academic reputation, employer reputation, faculty-student ratio, research impact measured through citations per faculty, and internationalization through faculty and student diversity. Additional metrics now also consider sustainability and institutional impact.—AOL, GMA Integrated News

Filipino woman excels in college in Hawaii

Filipino woman excels in college in Hawaii

Vince Jacob Visaya
The Manila Times
19 June 2025

TUGUEGARAO — Twenty-four-year-old Valerie Joy Agustin has brought pride to her hometown, the capital city of Cagayan province, by graduating summa cum laude with a double degree in political science and accounting at Brigham Young University (BYU) in Hawaii.

Her journey to glory unwittingly began at age 6, when she won in an academic competition. "At first, I didn't even know it was a competition — I just thought I was reviewing math problems," she was quoted in a BYU publication. "I won the competition and people started expecting me to be good at everything — not just [in] math, but [also in] English, science, everything. And suddenly, it wasn't just about learning anymore. It was about being the best."

Valerie said she drew strength from a family rooted in public service, faith and quiet determination. Her father is a government employee, and her mother is a homemaker who engaged in a small business while raising six children, of whom Valerie is the eldest. She refers to her mom as "the soul of our home."

Budding leader

In high school at the University of Saint Louis-Tuguegarao (USLT), she was a scholar and budding leader. She was elected president of the Supreme Student Council after previously serving as treasurer and NEO LMS (learning management system) ambassador — through which she helped fellow students transition to digital learning platforms at the height of the Covid-19 pandemic.

She finished senior high school in 2018 with honors in the Accountancy, Business and Management (ABM) strand, despite her being in the science curriculum.

By the time she entered BYU–Hawaii on a scholarship, Valerie's leadership skills were further honed.

She was elected president of the Professional Accounting Society, where she doubled membership and organized career-building activities, including networking events with global firms like KPMG (Klynveld Peat Marwick Goerdeler), one of the "Big Four" audit, tax advisory, and consulting firms in the world.

Time management

While pursuing her double major, she practiced time management by working as an undergraduate research assistant in the Faculty of Business and Government.

She was also a political science peer mentor, helping fellow students refine their research work, clarify academic goals, and navigate the rigors of university life.

Her own research paper on high-technology exports and political stability won first place in the political science category at BYU's Undergraduate Research Conference.

She likewise had the energy to join BYU's Polynesian Cultural Center, immersing in diverse cultures and honing her interpersonal and professional skills, and learning about cultural diplomacy.

Outside the campus, Valerie was selected as a Fellow of the Ayala Young Leaders Congress (AYLC), one of the most prestigious student leadership summits in the Philippines, where she sharpened her advocacy in nation-building, sustainability and youth empowerment.

She was likewise an Official Delegate of the American Chamber of Commerce (AmCham) Business Leadership Program, where she underwent training in business ethics, corporate governance and strategic leadership.

Valerie's interest in religious liberty, global justice, and diplomacy brought her to the Religious Freedom Annual Review in Utah in the United States, and earned her a slot as a Fellow of the J. Reuben Clark Law Society. She attended forums with international legal scholars and faith leaders.

"The fellowship broadened my perspective on constitutional rights, interfaith dialogue, and the global challenges of justice and inclusion," she said.

Full circle

Everything came full circle when her alma mater, USL-Tuguegarao, recently honored her as a model of youth leadership and academic excellence.

"Everything I do is a reflection of the people who raised me and the communities that molded me," Valerie said. "My dream is to serve, not just through titles or accolades, but by building systems and policies that empower people and promote justice."

She wants to pursue graduate studies in accounting taxation, law and international affairs. Her goal is to become an advocate for inclusive policy, social justice and ethical governance.

Inspired by her parents' example and empowered by her education, she envisions herself shaping policies and legal frameworks that uplift communities and promote peace.

121 PH universities made it to THE Impact Rankings 2025

University impact rankings: Philippines most represented in ASEA

Cristina Chi
Philstar Global
18 June 2025

MANILA, Philippines — The Philippines had 121 universities ranked in the latest Times Higher Education Impact Rankings — the highest number among ASEAN countries and third globally behind India and Pakistan.

The rankings, released Wednesday, June 18, measured over 2,500 universities from 130 countries against the United Nations' Sustainable Development Goals. 

With 121 schools on the list, the Philippines placed ahead of Thailand (85 universities) and Indonesia (76 universities) in total representation within the Southeast Asian region. 

This is also more than double the 56 Philippine universities and colleges included in last year's edition.

The Ateneo de Manila University remains the Philippines' top school in THE's impact rankings, placing in the 101-200 tier overall. This is higher than its 201-300 placement the previous year.

It is followed by the Batangas State University, Isabela State University, and the University of the Philippines — all of which are in the 401-600 band. 

While the Philippines led in representation, Indonesia claimed the region's highest individual ranking, with Universitas Airlangga jumping to joint ninth place globally from joint 81st the previous year — the first time an Indonesian university cracked the global top 10.

The rankings assess how universities contribute to addressing global challenges like poverty, climate change and inequality. 

To qualify, institutions must submit data on partnerships for goals and at least three other UN development categories.

The top-ranked schools in the Southeast Asian region for each of the 17 SDGs are from Malaysia, Thailand, Indonesia and Vietnam.

PH moves up in global competitiveness ranking

Philippines moves up to 51st spot in global competitiveness ranking

Ted Cordero
GMA Integrated News
17 June 2025

The Philippines’ competitiveness ranking rose one notch this year amid improvements in economic performance and infrastructure, according to a report by the Switzerland-based Institute for Management Development (IMD).

In its 2025 World Competitiveness Report, the IMD placed the Philippines 51st, up from 52nd last year, out of 69 economies it ranked all over the world.

The IMD’s World Competitiveness Ranking, first published in 1989, “analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation.”

IMD divides its data into four areas, namely economic performance, government efficiency, business efficiency, and infrastructure.

The four areas, together, capture various aspects of competitiveness, such as macroeconomic stability, fiscal policy, institutional quality, market openness, business dynamism, innovation, education, health, and environmental performance, according to the Swiss institute.

The latest IMD report showed the Philippines' ranking in terms of the four key areas:

• Economic Performance - 33rd up from 40th
• Government Efficiency - 51st down from 49th
• Business Efficiency - 46th down from 43rd
• Infrastructure - 60th up from 61st

Among Asia-Pacific’s 14 economies, the Philippines ranked 13th—unchanged for six consecutive years.

The IMD’s report cited the following challenges for the Philippines this year:

• Rekindle the country’s economic dynamism and growth trajectory.
• Address inflation expectations.
• Promote investments in inclusive technology to boost labor productivity and empower entrepreneurship.
• Improve education and healthcare to promote inclusive growth and reduce vulnerabilities.
• Adapt to shifting global economic and geopolitical dynamics.

The report ranked Switzerland as the most competitive economy in the world this year, followed by Singapore and Hong Kong. —VBL, GMA Integrated News

40 Philippine companies in Fortune's Southeast Asia 500

40 PH companies in Fortune Southeast Asia 500 list

Jon Viktor D. Cabuenas 

GMA Integrated News

June 17, 2025

Forty companies from the Philippines were included in the Fortune Southeast Asia 500 list for 2025, which ranks the 500 biggest companies in the region based on their revenues, at the average exchange rate during the year.

According to Fortune, the latest list shows a snapshot of a region that it described as “ready to take advantage” of shifts in the global supply chain, and booming industries such as mining, electric vehicles, and artificial intelligence.

This year’s list was topped for the second straight year by Singapore-headquartered Trafigura Group with $243.201 billion.

It was followed by Thailand’s PTT with $87.635 billion, Indonesia’s Pertamina with $75.327 billion, and Singapore-based Wilmar International with $67.379 billion, and Olam Group with $42.028 billion.

Revenue and profit figures for the companies reporting in their local currency were converted to US dollars at the average exchange rate during each company’s fiscal year, with the minimum revenue threshold set at $349.4 million.

The collective companies on the 2025 list recorded $1.82 trillion in revenue in 2024, higher than the $1.79 trillion in 2023.

“Together, the Southeast Asia 500 companies are playing an increasingly important role in global supply chains — capturing manufacturing capacity from shifting from China, which is drawing significant capital flows and reshaping global trade dynamics,” Fortune said.

Below is a list of the Philippine companies included in the list:

Philippines now legitimate threat for Southeast Asian Games volleyball gold

Philippines now legitimate threat for Southeast Asian Games volleyball gold

The silver medal the Filipinos settled for after a 25-15, 25-17, 25-14 beating at the hands of the Vietnamese at Dong Anh Arena in Hanoi on Saturday night certainly glitters like gold—and for sure, is making their Southeast Asian neighbours take a second look at them from hereon.

Musong R. Castillo
Philippine Daily Inquirer
16 June 2025

MANILA – If there’s one thing glaringly clear after a week of skirmishes in the AVC Women’s Nations Cup in Vietnam is that the Philippines has announced its coming as a legitimate volleyball power.

So the silver medal that the Filipinos settled for after a 25-15, 25-17, 25-14 beating at the hands of the Vietnamese at Dong Anh Arena in Hanoi on Saturday night certainly glitters like gold—and for sure, is making their Southeast Asian neighbors take a second look at them from hereon.

“The Philippine team delivered a remarkable performance,” Vietnam coach Nguyen Tuan Kiet said through an interpreter after their win late Saturday night. “The Philippines will undoubtedly be a serious contender [later] this year [in the Southeast Asian Games].”

A marathon five-set win against Chinese Taipei in the semifinals last Friday night obviously had the Filipinos coming in fatigued for the gold medal match, but team skipper Jia De Guzman knows that Team PH is on the right track towards achieving a lifelong dream of dominating the region.

“It means everything, honestly, because it’s hard to see the growth of the sport and our team without the result,” De Guzman said. “We didn’t expect to get a silver coming into this tournament. We just knew that we had to give our best because last year we got the bronze.”

De Guzman was adjudged the best in her position for the second straight edition, and improving a rung as a team from the last time definitely proves that everyone on the squad is doing things right.

And that going all the way is the next target.

“This silver inspires us to go back to training and keep working together as a team and to keep going for this long-term program because, slowly but surely, we’re rising as a country,” said the 30-year-old playmaker.

A proud coach

Brazilian coach Jorge Souza de Brito also took pride in steering this intrepid crew.

“We are happy with second place. We’re on the way [to bigger things],” De Brito, who also coached the bronze medal team last year at home, said. “It’s a process. I’m happy and proud of all the players and coaching staff, all the support also that you have from the federation.

“It’s really amazing,” he went on. “Really, really good players that you have to develop them here and the group will become stronger and stronger year after year. I’m sure of it.”

No women’s team in the past has looked as formidable as this one, and with the SEAG coming later this year, De Brito and the players have months to address whatever lapses they had in the Hanoi tournament.

The talent is there, and though the Vietnamese coach did say that PH big guns Angel Canino and Bella Belen “stood out despite their modest height,” meshing the team even more will fall on the shoulders of De Brito.

Height, of course, helps.

But a team that has jelled to the fullest can be as dangerous as the tallest side out there. They have until the SEAG in Thailand to find that out.

PH climbs 10 places in FIVB ranking

PH jumps to No. 46 in FIVB women’s rankings

Jean Malanum

June 14, 2025

Philippine News Agency

MANILA – The Philippines hopes to move up further in the world rankings with a title victory at the 2025 Asian Volleyball Confederation (AVC) Women’s Volleyball Nations Cup in Hanoi, Vietnam.

Ranked No. 56 in the FIVB rankings before the tournament, the Philippines jumped to No. 46 after beating Chinese Taipei, 25-17, 25-21, 18-25, 15-25, 15-12, at the Dong Anh Arena on Friday night.

The Philippines, whose earlier victories over Mongolia, New Zealand, and Kazakhstan also contributed to its rise in the world rankings, is scheduled to meet defending champion and host Vietnam in the finals at 9 p.m. (Manila time) on Saturday.

“The program is working. The past three years (were) all upward for our national program in all disciplines – volleyball and beach – thanks to the support of our stakeholders," Ramon Suzara, president of both the Philippine National Volleyball Federation (PNVF) and Asian Volleyball Confederation (AVC), said in a press statement on Saturday.

When Suzara and the PNVF took over in 2021, the Alas women’s team was No. 156 in the 222-nation FIVB but jumped to No. 66 in 2023. Last year, the Philippines improved to No. 58 after placing third in the Volleyball Nations Cup at the Rizal Memorial Coliseum.

Bella Belen, who registered a triple-double 14 points, 19 receptions, and 16 digs against Chinese Taipei, is expected to deliver again.

“I’m really happy because we were able to win this game, not just for us but for the Philippines. No words can explain how much we wanted this game and we’re going to prepare hard for us because it’s in Vietnam,” Belen said.

Brazilian coach Jorge Souza De Brito described the victory over the Taiwanese as "a gem of a win."

“We knew that semifinals are always hard and they (Taiwanese) gave us a hard night. But we also knew that we just have one chance to get to the final so I’m proud and very thankful for the girls," said De Brito, who has been supervising the Alas women's program for the past three years.

Jia De Guzman, last year's Best Setter, said Chinese-Taipei tested the team’s character.

“We're very grateful that we surpassed that test of character. Being up two sets, losing two sets, then coming back in the fifth set, that's really hard to do against a team like Chinese Taipei," she said. (PNA)

Manila climb up 20 spots in Emerging Startup Ecosystem ladder

Bucking Global Trends, Manila Moves Up 20 Spots in Emerging Startup Ecosystems List

Amid a global decline in ecosystem value, the Philippine capital continues to signal growing competitiveness as it moves up in the rankings of emerging global startup ecosystems, thanks to a strong showing in fintech, AI, and sustainability.

By Paul John Caña
Esquire Philippines
13 June 2025

Defying global trends, Manila continues to move up in the ranking of Emerging Startup Ecosystems, placing in the 61-70 bracket this year from 81-90 last year and 91-100 in 2023. 

According to the Global Startup Ecosystems Report (GSER) 2025 published by Startup Genome, a leading innovation ecosystem development organization, Manila generated $6.3 billion (about P352.35 billion) in ecosystem value between July 1, 2022, to December 31, 2024. This represents an impressive 35 percent compound annual growth rate (CAGR) in its ecosystem value compared to the period July 1, 2020 to December 31, 2022 (which covered GSER 2023).

Startup Genome defines ecosystem value as the sum of valuations of funded startups, including unicorns, plus the post- money valuation of exits in the past two and a half years. Essentially it is the measure of economic impact, calculated as the value of exits and startup valuations.

Sharing the 61-70 bracket in the ranking with Manila are the following cities: Lagos, Nigeria; Indianapolis, USA; St. Louis, USA; Chongqing, China; Athens, Greece; Hyderabad, India; Ho Chi Minh City, Vietnam; and Gothenburg, Sweden.

The GSER echoes the Venture Capital Report 2025 published by Foxmont Capital Ventures and Boston Consulting Group. That report found that, despite the generally quiet and subdued sentiment within the local startup industry, dealmaking activity in the Philippines actually reached record levels in 2024. Total funds raised by startups in the Philippines ballooned to $1.12 billion last year, up 16.6 percent versus the previous year’s $960 million and just slightly ahead of 2022, which was the previous record holder at $1.11 billion. 

Ranking in the GSER 2025’s Top 10 Emerging Ecosystems are the following cities (in descending order): Wuxi, China; Jakarta, Indonesia; Istanbul, Turkey; the Research Triangle (a region in North Carolina that includes Raleigh, Durham, and Chapel Hill), USA; Copenhagen, Denmark; Salt Lake and Provo, Utah; Barcelona, Spain; Dublin, Ireland; Nanjing, China; and Greater Lausanne, Switzerland.

Unlike the main list that ranks the top global startup ecosystems in the world, emerging ecosystems are startup communities at earlier stages of growth. Startup Genome says the methodology for ranking the Top 100 Emerging Ecosystems is designed to reflect this disparity, “showcasing the ecosystems displaying high potential to become top global performers in the coming years.”

Manila also figured highly in other categories in GSER 2025, including making it to the Global Top 15 (and No. 4 in Asia) in Bang for Buck (which measures the amount of runway tech startups acquire, on average, from a VC round); Global Top 30 (and Top 15 in Asia) in Affordable Talent (which measures the ability to hire tech talent); Top 25 in Asia in Funding (which measures innovation through early-stage funding and investor’s activity); Top 30 in Asia in Performance (a measure of the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding); and Top 30 in Asia in Talent & Experience (which measures long-term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem). 

“The Philippines demonstrates consistent performance in advancing innovation and digital transformation,” said Department of Trade and Information Secretary Cristina Roque. “As the lead agency supporting enterprise development, DTI ensures the country’s competitiveness and future-readiness by nurturing entrepreneurs and cultivating tech-driven solutions.

“This progress directly reflects the leadership of President Ferdinand R. Marcos Jr. and our commitment to the Bagong Pilipinas agenda, which champions inclusive, innovation-led growth and positions the Philippines as a hub for next-generation industries,” the trade chief added.

What’s driving startup growth in Manila

According to the report, the following sectors drove significant growth in startups in Manila and are therefore key strengths in the Philippines’s startup ecosystem: Fintech, Artificial Intelligence, and Sustainability.

“These sectors are supported by targeted government funding, regulatory strategies, and rapid digital adoption,” the report said. “In 2023, fintech firms secured major funding rounds, AI integration expanded across 100+ startups, and sustainability-driven ventures grew sixfold since 2020, aided by national programs like the Innovative Startup Act and Green Economy Programme in the Philippines.”

Startups are also choosing to set up shop in Manila thanks to a young, tech-oriented talent pool, driven largely by the Philippines' approximately 350,000 STEM graduates annually. The country, through the Board of Investments, is also teaming up with tech experts to future-proof the critical and foundational skills in engineering and technology of the Filipino workforce. 

“Recent policy reforms, including the CREATE MORE Act and the Philippine Innovation Act, strengthen fiscal incentives and regulatory support amid rapid digital market growth projected to reach up to $150 billion by 2030,” the report said.

In its highlight of Manila, the GSER said Philippines currently has approximately 1,200 startups, 65 incubators and accelerators, 55 venture capitalists, and 210 coworking spaces.

“Manila thrived despite the venture capital winter, as it reached a total of $2.4 billion VC funding and an exit value of $258 million from 2020 to 2024,” the report said. “The Manila ecosystem proactively catalyzes growth and attracts more domestic and foreign investments, with the establishment of startup hubs and hosting of startup conferences, like the annual Philippine Startup Week.” 

Top 10 Global Startup Ecosystems 2025

Startup Genome’s main list of Global Startup Ecosystems was once again topped by Silicon Valley in the US, followed by New York City, London, Tel Aviv, Boston and Beijing (tied), Los Angeles, Seoul, Singapore, and Shanghai. 

Just beyond the Top 10 are the following cities: Shanghai, Tokyo, Paris, Philadelphia, Bengaluru-Karnataka, Seattle, Chicago, Shenzhen and Washington DC (tied), San Diego, and Toronto-Waterloo and Amsterdam-Delta (tied).

Produced annually by Startup Genome, the GSER delivers fresh insights on the world’s leading innovation ecosystems, highlighting key trends, investment flows, and policy strategies driving entrepreneurial success.

“With its impressive rise in the rankings over the past three years, Manila is strengthening its profile as a dynamic emerging ecosystem in Asia,” said Stephan Kuester, Managing Partner at Startup Genome. “We are honored to partner with the Department of Trade and Industry, whose targeted support continues to align with and accelerate the ecosystem’s development trajectory.” 

“The global startup landscape is undergoing its most dramatic shake-up in years, with Asia and Africa surging ahead while much of Europe falters,” the report says. “Within the 2025 Top 40 Global Startup Ecosystem ranking, 16 ecosystems have moved up in rank while 18 have declined.”

Seven PH companies in Forbes world's 2000 largest

Sy-led firms lead Philippine companies on Forbes ‘Global 2000’ list

Meg J. Adonis - Reporter
Inquirer.net
13 June 2025

MANILA, Philippines – Seven companies based in the Philippines made it to Forbes Magazine’s list of the world’s 2,000 largest listed companies, cornering a combined market value of $70 billion.

These are SM Investments Corp. (SMIC), BDO Unibank Inc., Top Frontier Investment Holdings, Metropolitan Bank and Trust Co. (Metrobank), Manila Electric Co. (Meralco), Ayala Corp. and International Container Terminal Services Inc. (ICTSI).

These firms were ranked according to revenue, profit, assets and market value, with SMIC taking the top spot at 811th.

Apart from Top Frontier, all the companies included in the list are also members of the Philippine Stock Exchange Index (PSEi). The benchmark index is composed of the 30 most valuable and actively traded stocks listed on the local bourse.

Top Frontier is the controlling shareholder of San Miguel Corp., in which it has a 65.99-percent stake.

“For the 23rd year, Forbes’ Global 2000 ranks the largest public companies in the world using four metrics—sales, profits, assets and market value—and despite the geopolitical uncertainty and combativeness resulting from Donald Trump’s tariffs, all four reached records this year,” Forbes said in a statement.

PHILIPPINES leaps five spots in the 2025 Global Gender Gap Index

PHL jumps to 20th place in Global Gender Gap Index

BusinessWorld
13 June 2025

THE PHILIPPINES jumped five spots in the 2025 Global Gender Gap Index of the World Economic Forum (WEF) to 20th out of 148 countries and retained its position as the highest-ranking Southeast Asian country.

“Compared to the previous year, the economy has climbed five positions in the ranking, with a 0.2-percentage-point increase in its overall gender parity score,” the WEF said in a report released on Thursday.

The Philippines had a score of 78.1%, well above the average global gender gap score of 68.8% and Eastern Asia and the Pacific average of 69.4%. A parity score of 100 indicates full parity, while the gender gap is the distance from full parity.

The country had the highest ranking among Southeast Asian economies, followed by Singapore (47th), Thailand (66th), Vietnam (74th), Timor-Leste (86th), Laos (96th), Indonesia (97th), Cambodia (106th), Brunei (107th) and Malaysia (108th). Myanmar was not included in the study.

The Philippines remained in third spot in the Eastern Asia and the Pacific region, behind New Zealand (5th) and Australia (13th).

The WEF’s Global Gender Gap Index grades four key dimensions: economic participation and opportunity, educational attainment, health and survival, and political empowerment.

According to the report, the Philippines scored 79% in the economic participation and opportunity subindex this year, the highest in Eastern Asia and the Pacific and 13th globally.

“In 2025, slight improvements in the scores for wage equality and estimated earned income have brought its economic parity score to 79%, the highest in Eastern Asia and the Pacific this year,” it said.

It achieved full parity when it comes to professional and technical workers.

In the educational attainment subindex, the Philippines dropped to 87th spot from last year’s first place, when it achieved full parity.

This subindex includes literacy rate, enrollment rate in primary, secondary, tertiary education.

“Despite strong performances in educational attainment, the gender parity in education has slightly declined. For the first time, the primary school net enrollment rate for boys surpasses that of girls, resulting in a 1.2-percentage-point drop in the education parity score from previous years of full parity,” WEF said.

The report showed the Philippines had gender parity in the literacy rate, as well as enrollment in secondary education and tertiary education.

For political empowerment, the Philippines improved from 30th place from 34th last year.

This subindex includes women in parliament, ministerial positions, years with female or male head of state.

“The Philippines’s political parity score is buoyed by nearly 16 years of female leadership under Presidents Corazon Aquino and Gloria Macapagal-Arroyo. This contributes to a 46.2% score in the head-of-state indicator, the second highest in the region,” the WEF said.

Despite this, progress in female representation in parliament is described as “modest” with a score of 38.9%.

“The score for ministerial positions has declined to 21.1% in 2025, down from over 30% in both 2006-2007 and 2023,” it added.

For the health and survival sub-index, the Philippines rose a notch to 85th spot this year.

“The Philippines has faced growing sex imbalances at birth over the past decade. The sex ratio at birth (females to males) has declined from 0.944 in 2016 to 0.926 in 2025,” the WEF said.

Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc., said the Philippines’ improved ranking in the gender parity report was mainly driven by gains in wage equality, but noted that the “country still has a long way to go.”

“This is a good indicator of improvements in job opportunities and reduction of gender discrimination,” Mr. Erece said in a Viber message to BusinessWorld on Thursday.

However, he pointed out that female enrollment in primary education remains below 90%. “Thus, improvements in education accessibility and also childhood health are equally important to ensure that students have proper access to education,” he added. 

Mr. Erece also urged the government to improve the quality of education to help reduce dropout rates, especially among female students.

In the report, the WEF said that no economy has yet achieved full gender parity.

Iceland ranked first with a score of 92.6%, keeping the top spot for 16 consecutive years. It is the only economy to have closed more than 90% of its gender gap since 2022.

The rest of the top 10 include Finland, Norway, the United Kingdom, New Zealand, Sweden, Moldova, Namibia, Germany and Ireland.

“Despite decades of progress, efforts to achieve gender parity remain constrained, imposing a hidden but heavy tax on global growth and weakening the foundations of economic resilience — expressed in underutilized talent, lost productivity, slower innovation and frayed social cohesion,” WEF said.

“As the global context evolves, challenges and opportunities emerge for economies that seek to close gender gaps and adopt gender parity as a strategy for growth: expanding women’s participation in the workforce, strengthening leadership pipelines, improving skills-to-work transitions, enhancing policy implementation, and ensuring inclusive outcomes in global trade.” — Aubrey Rose A. Inosante

Vietnam invests billion dollars in PH transport sector

Vietnam’s Green GSM investing $1 billion in Philippines

Louella Desiderio
Philstar Global 
11 June 2025

MANILA, Philippines — Vietnamese electric vehicle (EV) ride-hailing service provider Green and Smart Mobility (Green GSM) is investing $1 billion to support its operations in the Philippines.

The Office of Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said in a statement yesterday that Green GSM has started its investments in the Philippines with the launch of its taxi and transportation network vehicle service in the country yesterday.

OSAPIEA said the ride-hailing service provider using VinFast electric vehicles is investing $500 million to support the first phase of its operations in the country.

Green GSM has deployed an initial fleet of 2,500 all-electric VinFast vehicles for its operations in Metro Manila.

Apart from the deployment of the initial fleet, the investment is also being used to set up Green GSM’s office, hire employees, construct charging stations and garage for taxis, as well as the purchase of taxi units.

The fleet includes the VinFast VF 5, a compact EV with a range of 326 kilometers, advanced driver-assist systems and modern infotainment features, suitable for the country’s urban centers.

Once fully operational, OSAPIEA said Green GSM is expected to create 20,000 to 70,000 high quality jobs for Filipinos nationwide, with investments reaching a total of $1 billion.

Green GSM will operate through a hybrid model of taxi services, combining manual hailing and bookings made through the app.

“This will be a game-changer for Philippine public transport. It promises not only to modernize our transport system, but more importantly to offer commuters a safer, more convenient and environment-friendly transport option,” SAPIEA Frederick Go said.

Go, along with Transportation Secretary Vince Dizon and Trade Secretary Cristina Roque attended Green GSM’s launch, supporting the government’s push for the adoption of green transport options.

In line with the push for the adoption and development of the EV industry, the government is aiming to see 2.4 million EVs on the road by 2028 to achieve its 50 percent EV adoption rate target by 2040.

Fil-Am elected mayor of San Antonio, Texas

Fil-Am daughter of Ilocana public school teacher wins US mayoral race

Story by Cristina Chi 
Philstar Global
10 June 2025

MANILA, Philippines — The daughter of an Ilocana immigrant made history over the weekend by becoming the first Filipino-American and woman of color elected mayor of San Antonio, Texas — the seventh-biggest city in the United States. 

Gina Ortiz Jones, 44, defeated her conservative rival, former Texas Secretary of State Rolando Pablos, with 54.3% of the vote in Saturday's runoff election, according to US media reports. This also makes Jones the first openly gay mayor and only the third woman to lead the Texas metropolis of 1.5 million residents.

Jones will take office on June 18 for a four-year term. 

Her mother, Victorina Ortiz, left behind an established career as a public school science teacher in Pangasinan to immigrate to the United States in the 70s, according to an interview with Jones by People Asia.   

A University of the Philippines Diliman graduate, Victorina initially worked household jobs after arriving in the US before eventually returning to education — spending over 40 years teaching special needs students at a public school district in San Antonio.

"My journey has been a uniquely American story. My mom came to this country from the Philippines and raised me and my sister by herself," Ortiz said in her campaign website.  

The decision to leave the Philippines required courage that Jones says she inherited. "That same courage is in my heart, that's in my blood, that's in my sister's heart," she told People Asia magazine in 2023.  

Jones said she was raised by her mother to be conscious of finding ways to give back to her community. "It’s why my sister and I both joined the military, and it’s why I’ve worked as a public servant," the San Antonio mayor-elect said.

Historic win amid partisan battle

Jones' victory is seen a breakthrough for Filipino-American political representation in the United States, where Asian-Americans remain underrepresented in major offices despite being the fastest-growing ethnoracial group in the US electorate.

Before running for mayor, she unsuccessfully sought a congressional seat twice under the Democratic party, losing close races in 2018 and 2020 in South Texas.

According to a report by the Texas Tribune, the mayoral race turned bitterly partisan, with Jones having to parry attacks from Pablos, whose campaign ran television advertisements questioning her military record and painting her as an outsider.

Jones responded by assembling a coalition of progressive organizations, veterans groups and labor unions. Her platform focused on expanding pre-kindergarten programs, increasing affordable housing, and improving internet access in poor neighborhoods. 

Pablos trailed by more than 12,000 votes, according to a report by the San Antonio Express.

From Air Force to City Hall

Jones served as an intelligence officer in Iraq under the US military's "Don't Ask, Don't Tell" policy, which prohibited openly gay service members. She left the Air Force early to care for her mother, who had been diagnosed with cancer while Jones was deployed.

She later worked for federal agencies, including the Defense Intelligence Agency, before serving as undersecretary of the Air Force under US President Joe Biden — the first openly gay woman of color in that position.

Manny Pacquiao inducted to Hall of Fame

Manny Pacquiao enshrined to Boxing Hall of Fame

JM Siasat
GMA News
June 9, 2025

Manny Pacquiao was inducted into the prestigious International Boxing Hall of Fame earlier today in New York, USA.

Pacquiao, the lone eight-division champion in history, joined fellow Filipinos Pancho Villa, Gabriel "Flash" Elorde, and promoter Lope Sarreal.

"From the streets of General Santos, to the bright light of Las Vegas, to tonight at the International Boxing Hall of Fame. No shoes, no food, no chance, just a dream in my heart," Pacquiao wrote on his official Facebook page.

"I never imagined this moment, but by God’s grace, here we are. This is not just about boxing. It’s about faith. Family. Sacrifice. Purpose. It’s about every Filipino and every fan who believed in me, even when the doubters didn’t."

Pacquiao's, though, journey is not over. On July 16 at MGM Grand Arena in Las Vegas, the 46-year-old Pacquiao will lace them up once more against WBC world welterweight champion Mario Barrios.

An underdog in the upcoming fight, Pacquiao is poised to break his own record of being the oldest welterweight champion in history should he overcome his lanky Mexican opponent.

—JMB, GMA Integrated News

Pinay ice hockey players secure Asia cup crown

Philippines claims women’s Asia Cup ice hockey crown

Randy Caluag
Manila Standard
09 June 2025

THE Philippines has once again ascended to the top of Asian women’s ice hockey, capturing the IIHF Asia Cup 2025 with a hard-fought 4-2 victory over a tenacious Iranian team in the gold-medal match recently in United Arab Emirates.

The team’s success was boosted by exceptional individual performances, including Player of the Game Kathleen Tan (#33), whose stellar play consistently elevated the team.

Jasmin Alcido (#87), recognized as the Best Player for the Philippines, showcased her brilliance throughout the tournament, but every single player, however, poured their heart and soul into this historic win.

The Filipinas’ path to the gold was marked by dominance.

They secured their spot in the finals with a commanding 4-1 victory over India at the Al Hili Ice Rink in Al-Ain, UAE.

The win marked the Filipinas’ fourth straight in the tournament, with earlier victories including decisive performances against Kyrgyzstan, host country UAE, and Malaysia.

Forward Illeana Venice Jimenez was a standout in the semifinal match against India, earning Player of the Game honors.

Jimenez’s crucial goal, along with her 46.67% face-off win rate and two shots, helped seal the Philippine squad’s dominance and secure their place in the championship against the Iranians.

Nicole, Darren Criss won their first Tony awards

Fil-Ams Nicole Scherzinger, Darren Criss score 1st Tony wins

Story by Kathleen A. Llemit
Philstar Global
08 June 2025

MANILA, Philippines — Filipino-American actor-singers Nicole Scherzinger and Darren Criss won their first-ever nominations at the Tony Awards 2025 earlier today. 

Scherzinger, the former lead singer of pop group Pussycat Dolls, scored her first Tony for her portrayal of a has-been star Norma Desmond in Andrew Lloyd Webber’s Broadway adaptation of the 1950 film “Sunset Blvd.” 

“Thank you for making this little Hawaiian Ukranian Filipino girl’s dream come true,” Nicole said during her acceptance speech at the awards night held at the Radio City Music Hall in Manhattan. 

Nicole had earlier stunned with her Norma Desmond-inspired look on the red carpet. 

Apart from her win, “Sunset Blvd” also won Best Revival of a Musical and Best Lighting Design in a Musical for Jack Knowles.

Darren, who rose to fame via the TV musical “Glee,” also picked up his first Tony for his performance in “Maybe Happy Ending.” 

It is a double win for Criss as “Maybe Happy Ending” bagged the Best Musical award. Apart from taking on a role in the musical, Criss is also one of the producers of the show. 

“Maybe Happy Ending” also scored the following awards: Best Direction of a Musical for Michael Arden, Best Book of a Musical for Will Aronson and Hue Park, Best Original Score for Park and Aronson, and Best Scenic Design for Dane Laffrey and George Reeve. 

Another Filipino, Marco Paguia, won Best Orchestrations for “Buena Vista Social Club.” 

Philippines maintains A credit rating by Japan Credit Rating Agency

Japan Credit Rating Agency affirms Philippines' A– credit rating

JonViktor D. Cabuenas
GMA Integrated News 
06 June 2025

Japan Credit Rating Agency Ltd. (JCR) has affirmed its long-term issuer rating on the Philippines as it cited the country’s sustained economic growth.

However, the JCR said steps needed to be taken to address income disparity.

In a dispatch released on Thursday, JCR affirmed the Philippines’ foreign currency long-term issuer and local currency long-term issuer at “A-,” with a stable outlook. The Philippines first scored the rating in June 2020.

An “A” rating indicates the country has “high creditworthiness supported by a few excellent factors,” while a minus (–) indicates the relative standing within the rating category.

A higher credit rating is generally seen as more favorable, as this would entail lower borrowing costs for the country.

“The ratings mainly reflect the Philippines’ high and sustained economic growth supported by solid domestic demand, low-level external debt, and resilience to external shocks supported by accumulated foreign exchange reserves,” JCR said.

“However, reducing income disparity through rural development and infrastructure development remain important tasks to be addressed,” it added.

Philippine economic growth clocked in at 5.4% in the first quarter of 2025, the fastest in three quarters, but slower than the 5.9% growth in the first three months of 2024.

Government debt stood at a record P16.752 trillion as of end-April 2025, 0.41% higher than the P16.68-trillion debt stock as of end-March. Gross international reserves amounted to $104.6 billion as of end-April, down from $106.7 billion as of end-March.

“Despite increased uncertainty due to changes in US tariff policies, the Philippines’ foreign exchange liquidity position remains solid, and JCR expects the economy to retain high resilience to external shocks going forward,” it added.

JCR’s affirmation of the Philippines’ issuer rating was welcomed by Finance Secretary Ralph Recto, who said this reflects the continued confidence of rating agencies and investors in the country.

“We remain committed to securing more ‘A’ ratings by staying faithful to our fiscal consolidation plan and Road-to-A strategy,” Recto said in a separate statement.

“We have already passed key game-changing reforms, such as the CREATE MORE Act and the Capital Markets Efficiency Promotion Act, and will continue to work on creating an investment-enabling environment to increase the country’s economic growth potential,” he added. –NB, GMA Integrated News

Miss World PH landed in top 8, named Miss World Asia

Thailand wins Miss World 2025 crown, Philippines in Top 8

Earl D.C. Bracamonte 
Philstar.com
June 1, 2025

MANILA, Philippines — Chuangsri "Opal" Suchata bested 107 international delegates and won Thailand's first Miss World crown in glitzy rites in Telangana, India on Saturday.

Krystyna Pyzkova crowned the Breast Cancer survivor and advocate.

Miss World Philippines 2024 Krishnah Marie Gravidez shared the Top 2 spots with Thailand in the final cut for Asia and Oceania.

Hasset Dereje Admassu of Ethiopia was the other lady Opal was holding hands with while waiting for the proclamation to be given out, winning as 1st runner-up and Continental Queen of Africa. It is the first time for both countries to reach such high placement.

Maja Klajda of Poland was named 2nd runner-up and Continental Queen of Europe, while Aurelie Joachim of Martinique, in its first Top 4 finish, completed the royal court as 3rd runner-up and Continental Queen of the Americas and the Caribbean.

The other lucky four delegates who competed for the Final 4 placements were Jessica Pedroso (Brazil), Selma Kamanya (Namibia), Mayra Melnychenko (Ukraine), and Krishnah Marie Gravidez (Philippines).

The delegates who also made it to the Top 20 were Guadalupe Alomar (Argentina), Valeria Perez (Puerto Rico), Athenna Crosby (USA) from the Americas and the Caribbean); Issie Princesse (Cameroon), Joy Raimi (Nigeria), Lamis Redissi (Tunisia) from Africa; Jasmine Gerhardt (Ireland), Chiara Esposito (Italy), Millie-Mae Adams (Wales) from Europe; Jasmine Stringer (Australia), Nandini Gupta (India), and Nada Koussa (Lebanon) from Asia and Oceania.

The Top 20 semi-finalists were the ladies who made the next cut after the quarterfinals of 40 placements, 10 from each continent and region, including the fast track challenge winners.

The over three-week competition saw the delegates compete in several challenges that included Sports, Talent, Top Model, Multimedia, Head-to-Head, and Beauty with a Purpose. The delegates also enjoyed the cuisine, hospitality, and sights and sounds of Telangana.

Hosted by Sachiin Khumbar and Miss World 2016 Stephanie del Valle, with performances from Jacqueline Fernandez and Ishaan Khatter, the 72nd Miss World coronation ceremonies unfolded at the Hitex Exhibition Center in Hyderabad, India.

It was beamed to a global audience through Miss World's pay-per-view channel on YouTube.