Showing posts with label South Africa. Show all posts
Showing posts with label South Africa. Show all posts

Saturday, 29 August 2026

Alexandra the Great - How Eala united Filipinos worldwide

 How Alex Eala Became a Symbol of the Philippines

At only twenty-one, the tennis phenom is likely already the best-ever player from Southeast Asia. Now she is seeking her first Grand Slam title at this summer’s U.S. Open.

Albert Samaha
The New Yorker
August 29, 2026

Practice Court No. 3 at the U.S. Open, in Queens, sits at the far end of the grounds, beyond the stadiums. Last Sunday, a week before the start of the main draw, the court was at capacity. Fans packed the bleachers, sweating under the summer sun, or lined up along the concourse, hoping to nab a seat. There were plenty available at adjacent practice courts, where the Grand Slam champions Naomi Osaka and Aryna Sabalenka were warming up. But this crowd had come for Alexandra Eala, a twenty-one-year-old Filipino rising star, who has recently reached a career-high world ranking of eighteen, making her the highest-ranked Southeast Asian player in women’s tennis history. In the stands, I met Ysa Llanos, a twenty-one-year-old Filipino American. “It’s inspiring to see somebody who looks like you, talks like you, be in the kind of places we’ve never been in before,” Llanos told me, explaining that she had travelled from New Jersey with her parents and her thirteen-year-old brother to get a glimpse of Eala.


Everywhere that Eala plays, from Melbourne to Abu Dhabi, legions of fans follow, often waving the Philippine flag and signs in Tagalog (“Laban, Alex!”). Eala mania, people call it. “Many, many Filipinos, they come to watch her win,” Joan Bosch, Eala’s coach, told me recently. “You try to explain to her—there is no pressure.” Yet, in her relatively short career, practically every accomplishment of Eala’s comes with a historic superlative. Eala is the first Filipino to win a junior Grand Slam, beat a Top Ten opponent, win a Grand Slam match, reach Wimbledon’s fourth round, win a Women’s Tennis Association tournament, and attain a Top Twenty ranking. In the Philippines, many time zones away from these major tournaments, fans organize watch parties for matches that often start after midnight. Eala’s popularity has outpaced her on-court success. To meet the surging demand at tournaments, where early-round matches take place concurrently across the grounds, schedulers have scrambled to move Eala to the main courts, which have the most seats and are usually reserved for the highest-ranked players. The chairman of a recent tournament in Washington, D.C., estimated that eighty per cent of ticketing inquiries were for Eala. The Canadian Open’s director credited Eala with unprecedented ticket sales, remarking in a press conference that “a sold-out Wednesday night this early in the tournament is really unheard of.” In a post-match interview during the Dubai Tennis Championships, the American star Coco Gauff thanked Eala “for bringing a new demographic” to tennis. “I’ve played this tournament for many years, and to see the stadium full means a lot,” she said. Venus Williams, who has partnered with Eala in doubles, deemed her a “world star.”

Nowhere is Eala’s fandom more visible than at the U.S. Open. Around fifty thousand people of Filipino descent live in Queens, many of them in Woodside, which boasts New York City’s oldest Jollibee, a mega-popular Filipino fast-food chain. If Wimbledon, with its docile audience dressed in white, embodies a subdued, Old World version of the sport, Flushing Meadows Corona Park has historically flaunted the rambunctious spirit of a new version of tennis. In recent years, the U.S. Open has turned into one of the city’s most glamorous events. Anna Wintour sits beside Lewis Hamilton. Beyoncé and Jay-Z cheer on Serena Williams. Barack and Michelle Obama show up for a first-round Gauff match. Long lines snake toward bars selling the tournament’s specialty cocktail, and a David Chang stall cooks elevated chicken tenders. Last year, a nosebleed seat for Gauff’s fourth-round match, against Osaka, cost around eight hundred dollars. This year, Eala is among the biggest draws. For many of her fans, the practice court offered a chance to see her up close for free. “She makes us so proud,” a teacher who drove in from Jersey City with her family told me. “We want to be a part of it.”

Eala has said that tennis was not “love at first sight” but, instead, a game she embraced gradually. Tennis was her grandfather’s idea. Although Roberto Maniego had no formal training, he read books and magazines about the sport and instilled in his grandchildren the idea that tennis offered a path to a college scholarship. Many public tennis courts in the Philippines have a surface made of crushed shells, rather than the grass, clay, or asphalt topped with acrylic that is standard in top competitions, so Maniego trained her and her older brother, Miko, at Valle Verde, a palm-lined country club that featured the only hard court anywhere near the their home, in Quezon City. The court had also been used for basketball, with the hoops still up behind the baseline.

Tonette Mendoza, a former college player who is now the executive director of the Philippine Tennis Association, first saw a six-or-seven-year-old Eala play at a local tournament. By then, Miko, three years older, had a growing collection of tennis-championship trophies. Eala would often partner with him against boys his age, frequently facing the brunt of the action. “The boys are always attacking her,” Mendoza told me. But rather than drift back to the baseline, Mendoza explained, “she was at the net and clearing, and I said, Oh, my God, this girl is so strong.”

Eala’s training would begin at five in the morning; after school, she did her homework in the car on the way to evening practice. She competed in tournaments around the country, and before long she was travelling the world. As a young child, in a nationally televised news segment, she expressed her dream to win all four Grand Slams. In another TV interview, a few years later, Eala said that she didn’t have much time for “normal children things,” such as “a party with friends or going to the mall. I don’t have the hours. I’m tired then.”

Her school from fourth to seventh grade, Colegio San Agustín Makati, accommodated her tournament schedule. Rowen Ayta, her sixth-grade teacher, told me she had to accept that Eala “would not be attending school every day.” She would often return from competitions to find a stack of waiting assignments, and would have to catch up on weeks of missed lessons within days. Another one of her teachers, Robynne Reyes, told me about a quote Eala picked for her sixth-grade yearbook: “I am motivated by the fear of being average.”

After Eala won a tournament in France at twelve years old, she attended the Rafa Nadal Academy, which offered her and her brother the chance to train and study at the school’s campus in Manacor, Spain. Her coach at the academy, Daniel Gomez, told me that he was immediately struck by the maturity of her game. She anticipated her opponent’s moves and executed with precise timing. Her serve was slow, but she compensated with aggression, fearlessly charging forward, cutting down her rival’s time to react. The coaches helped her hone the fundamentals, adding spin to her serve and power to her forehand, but Gomez also saw Eala developing tools that were harder to teach. She carried herself with a calmness rare in a sport that tends to incite extreme emotions, making calculated decisions on the court and celebrating wins with silent fist pumps. During a tournament in South Africa, when she was fourteen, Eala was a few points away from clinching the match when her opponent began to climb back. Eala paused to huddle with Gomez, but she wasn’t seeking counsel; she just wanted to “create doubt in the opponent’s mind,” he told me, making it seem as if she might change her strategy. Gomez remembers thinking, “My God, this girl is different.”

At age fourteen, Eala won a junior Australian Open doubles title. At fifteen, she reached the junior French Open semifinals; then, at sixteen, she won a junior French Open doubles title. A few months after her seventeenth birthday, in 2022, she raised a junior U.S. Open trophy as the first-ever Filipino winner. A few weeks later, Eala was on the cover of Vogue Philippines.

While her brother earned a tennis scholarship to Penn State, Eala dove straight into the professional circuit, competing in every event she could find. Even before she climbed the rankings, when she was playing in matches that typically feature empty stadiums, her fan base followed. “Filipinos would come to support me,” she said, on “The Player’s Box” podcast. At the 2025 Miami Open, she upset three Top Thirty players, before narrowly falling to Jessica Pegula, an American, who later marvelled at how many Eala fans were in the stands at a U.S. tournament. “Why is nobody cheering for me?” she joked.

Then, at the 2025 U.S. Open, with a rowdy crowd behind her, Eala won her first Grand Slam match, breaking into the Top Fifty in the global rankings soon after. At the 2026 Australian Open, so many people showed up to watch her practice that she had trouble getting through the crowd. All of a sudden, she was famous enough to need a security escort. She beat Top Ten players in Dubai and Berlin, and then, at Wimbledon this summer, defeated the then reigning champion, Iga Świątek, to reach the fourth round. In Washington, D.C., in August, she defeated three Top Fifteen players en route to the tournament title. After a match, an on-court interviewer asked, “What is it like to be this popular everywhere around the world?” Eala replied, “I think the question should be rephrased. It’s ‘What is it like to be Filipino?’ ”

Eala has embraced the role of ambassador. In online videos, she lists puto bumbong as one of her favorite Filipino foods, argues that the resort island Boracay isn’t overrated, shares that she named one of her (pig) slippers Chicharrón, and proclaims her love for karaoke. She walked the red carpet of an awards gala in a Filipiniana gown designed by her uncle. Nike released a commemorative shirt bearing the Philippine national flower, the sampaguita, over a grass court, and supplied her with a visor stitched with a Tagalog phrase that means “once it grows, it cannot be stopped.” Clips of her cursing in Tagalog reliably go viral. In Queens, I spoke to one Eala fan who mentioned kapwa, the Filipino virtue of honoring a shared identity, and another who brought up bayanihan, a Filipino concept of cooperation rooted in the traditional practice of a community carrying a neighbor’s house to another location.

History has left Filipinos hungry for solidarity. Across the archipelago’s more than seven thousand islands, countless sovereign communities once bloomed with distinct languages and traditions, until Spain claimed them all under a single name. The writer José Rizal described Filipinos, in the nineteenth century, as a fragmented people unified by a “common misfortune.” After the Philippines attained independence, in 1946, with the country’s economy constricted from more than three centuries of colonization, a diaspora spread around the world. Immigrants raised children in the U.S. or Australia, and overseas foreign workers sought jobs as housekeepers around the Persian Gulf or as deckhands on cruise ships. Even today, remittances account for roughly ten per cent of the Philippine economy.

When Eala was growing up, Manny Pacquiao united Filipinos anytime he stepped into the boxing ring. In the Philippines, “it was like a holiday,” Eala said on Andy Roddick’s podcast, “Served.” “Crime rates would go down, everyone would gather.” If, as Jimmy Connors has said, tennis is boxing at ninety feet—a lonely battle of wills that punishes the slightest lapse in concentration—Eala’s southpaw forehand drives resemble Pacquiao’s blazing left hooks. In a post-match interview at Wimbledon, Eala tearfully explained that a third-round win “may seem small” for some players, “but for someone who grew up in the Philippines,” training “every day after school with my ruffled socks and my light-up shoes and chubby cheeks, so—to her, this is everything.”

Mendoza, of the Philippine Tennis Association, told me that new public courts are being built around the country, and the government is constructing a new national tennis center. Eala’s grade-school tennis coach, Polly Hipolito, said that in the past year the number of students who’ve signed up for tennis at the school has doubled, explaining that several recent players told him, “I want to be like Alex.” Some kids call her Ate Alex, Tagalog for “older sister.” “People tell me I’m a role model for people back home,” Eala said on “Served.” “I’m the only Filipina that people really see in high-level tennis . . . so I really do my best to be on my best behavior and represent the best of the Philippines.”

With her new stature, some in the Philippines have sought to project Eala onto their political agendas. Pacquiao, after all, eventually became a senator and an ally of the disgraced former President Rodrigo Duterte. After partisans on social media argued that Eala wore a green outfit to a match to express support for Duterte’s embattled daughter, Vice-President Sara Duterte, who is facing an impeachment trial, others responded by circulating a fake quote claiming that Eala opposed her. And, during the trial, legislators on both sides gave speeches celebrating Eala. But, for now, Eala remains a unifying figure and seems focused on becoming more than just the best tennis player from the Philippines, a title she has already earned. “Every error I hit on the court keeps me grounded,” she said in a Tennis Channel interview. “When I wake up in the morning, I have bad hair—keeps me grounded.”

Eala’s first competition at this year’s U.S. Open was an early morning mixed-doubles match on Tuesday. Filipinos filled the stadium’s lower bowl. Some told me that they’d woken at five to make the commute from other boroughs, New Jersey, or upstate. “Only for Alex,” Gilda Wong Penaco, a seventy-one-year-old from Yonkers, who came with a group of fellow retired nurses, told me.

Tagalog chatter filled the air. People ran into folks they knew. “It’s like we’re in the Philippines,” Christian Battung, a thirty-two-year-old from New Jersey attending the match with several family members, told me. After watching Eala on TV last year, Battung bought a pair of racquets and started playing the game with his three-year-old son.

Among the young fans in the crowd was a six-year-old girl. Her parents, Monique and Anthony David, had driven an hour and a half to get to Flushing Meadows. Anthony told me that they had watched so many of Eala’s matches that their daughter had become enamored. Their daughter knows Eala is Filipino, “but I don’t think she really understands what it means,” Monique said. “She just sees her as a tennis player.” ♦

Thursday, 16 July 2026

Low-cost carrier AirAsia Philippines made it as the world’s fourth most punctual airline

AirAsia Philippines lands on world’s most punctual list

Elijah Felice Rosales
Philstar Global 
16 July 2026

MANILA, Philippines — Low-cost carrier AirAsia Philippines made it as the world’s fourth most punctual airline in June, according to aviation analyst OAG.


OAG said AirAsia Philippines turned in an on-time performance of 92.96 percent last month, the fourth best score among all carriers.

In addition, AirAsia Philippines posted zero cancellations — the only one among the leading 10 on the list — over its 2,535 flights in June.

Flag carrier Garuda Indonesia topped the list with an on-time score of 97.13 percent, while Fuji Dream Airlines came next with 93.29 percent. South African airline FlySafair ranked third with 93.18 percent.

Saudia tailed AirAsia Philippines at fifth with 92.41 percent, followed by Royal Jordanian (92.14 percent) and Sky Airline (91.87 percent). South African Airways came in at eighth with 91.44 percent to stay ahead of Copa Airlines (90.75 percent) and Jeju Air (90.12 percent).

The OAG on-time list is different from the one produced by aviation expert Cirium, which also issues a monthly index of punctual airlines, frequently including flag carrier Philippine Airlines.

AirAsia Philippines president and general manager Anna Victoria Lu said the carrier is focusing next on sustaining its on-time performance for the benefit of passengers.

Lu recognized the challenges faced by airlines recently, especially when flights were delayed, if not canceled, due to airspace restrictions and jet fuel price hikes.

At the height of flight disruptions, Lu said AirAsia Philippines managed to keep its on-time rates up by maintaining aircraft availability. She underscored the importance of working closely with air traffic control to improve flight dispatch and turnaround.

The AirAsia Group, the parent of AirAsia Philippines, ranked 10th in the world for large airlines with an on-time rate of 83.02 percent in June. The carrier also limited flight cancellations to just 0.92 percent across 14,502 flights.

To be assessed for on-time performance, an airline must have a minimum of 1,500 flights for the month.

Similar to Cirium’s index, OAG assesses a carrier’s timeliness if a flight departed from or arrived at its designated gate within 15 minutes of schedule.

Sunday, 28 June 2026

Swedish firms choose Philippines as preferred investment market

Philippines among top investment markets for Swedish firms

Louella Desiderio
Philstar Global
28 June 2026

MANILA, Philippines — The Philippines is among the top investment markets for Swedish firms with over 60 percent of companies planning to increase their investments in the country, according to a survey.


The Global Business Climate Survey 2026, produced by Business Sweden and Sweden’s embassies and consulates, showed that the Philippines ranked as the second preferred investment market, with 63 percent of Swedish firms expecting to expand in the country in the next 12 months. This is up from 55 percent that planned to increase their investments last year.

Topping the list was South Africa where 66 percent of Swedish companies plan to invest more in the coming 12 months.

The survey covered over 2,250 respondents in 41 markets. In the Philippines, the survey covered 38 respondents.

For Swedish companies, the Philippines is an attractive growth market because of its long-term macroeconomic fundamentals and large and young consumer base.

Most Swedish firms in the Philippines are also optimistic on their performance this year, with 82 percent expecting increased turnover, higher than 58 percent last year.

Despite the optimistic outlook, Swedish firms are concerned about corruption in the country.

While most firms report limited direct exposure to bribery or fraud, there are concerns on how the flood control corruption scandal last year may affect investor and consumer confidence and weigh on overall market growth.

To improve the country’s competitiveness and business environment, Swedish firms cited digitalization, infrastructure improvement and ease of doing business reforms as key priorities.

To succeed and grow in the Philippines, Swedish firms are focusing on sales, marketing, after-sales services and customer support.

Other factors seen vital to Swedish firms’ success are cost efficiency and finding the right partners.

Sunday, 7 July 2024

Alethea Ambrosio is crowned Miss Supranational Asia and Oceania in Poland

Alethea Ambrosio is crowned Miss Supranational Asia and Oceania in Poland

Story by Armin P. Adina 
Inquirer.net
07 July 2024

The Philippines’ Alethea Ambrosio was crowned Miss Supranational Asia and Oceania at the conclusion of the Miss Supranational 2024 pageant in Nowy Sacz, Poland, on July 6 (July 7 in Manila).


Her coronation also makes her the first Filipino woman to receive the continental title, and it came two days after Brandon Espiritu became the first entry from the Philippines to advance to the Top 5 of the Mister Supranational contest. He finished third overall.

Ambrosio and Espiritu won in the twin staging of The Miss Philippines and Mister Pilipinas Worldwide in October last year, and officially received their assignments as the country’s delegates to the Supranational competitions in February.

At the Miss Supranational pageant, Ambrosio advanced to the Top 12 of the competition. Part-Filipino Yuki Sonoda from Japan made it to the Top 25. Their fellow Asian delegate Harashta Haifa Zahra made history for Indonesia by winning the country’s first Miss Supranational crown.

Jenna Dykstra from the United States settled for the first runner-up spot, while heavy favorite Justyna Zednikova from the Czech Republic finished as second runner-up. Brazil’s Isadora Murtia was third runner-up, while Curacao’s Chanelle de Lau rounded up the winner’s circle as fourth runner -up.

Meanwhile, Ambrosio’s fellow continental queens were South Africa’s Bryoni Govender for Africa, Mexico’s Andrea Saenz for the Americas, Puerto Rico’s Fiorella Medina for the Caribbean, and Denmark’s Victoria Larsen for Europe.

Before flying to Poland for the international competition, Ambrosio has already crowned her successor as Miss Supranational Philippines, Tarah Valencia who was third runner-up in the 2024 Miss Universe Philippines pageant. She will compete in next year’s Miss Supranational contest.

Mutya Johanna Datul remains to be the lone Filipino woman to be proclaimed Miss Supranational. She won the title at the international competition’s fifth edition in 2013. Last year’s representative Pauline Amelinckx almost scored a second victory for the Philippines when she finished as first runner-up.

Friday, 5 July 2024

Mister Supranational Philippines 2024 made history in Poland

Philippines' Brandon Espiritu is 2024 Mister Supranational 2nd runner-up!

Story by GMA Integrated News 
05 July 2024

Congratulations are in order for Mister Supranational 2024 Philippine bet Brandon Espiritu! 


Not only did he just finish as 2nd runner-up to the pageant — the highest placement the Philippines has achieved in the international tilt — he also won the social media influencer challenge of the pageant. 

On Instagram, the local organization congratulated Brandon. "You’ve made a whole country proud. You have achieved our highest placement in Mister Supranational so far," they said.


In a video posted by the organization, Brandon thanked his supporters "for backing me in this journey."

"We broke history, we broke Top 5. As a Filipino, I'm so proud to be here," he said.

During the finals, Brandon first made an incredible impression with his dance moves, and cemented it with his noteworthy final Q&A performance.

Before answering the question, the model and entrepreneur made sure to thank this parents for "helping raise me to be the man that I am today."

And then he began by demonstrating his sense of inclusivity. "I would tell every single man out there, not just every man but every man and woman, every person with a soul: You have intrinsic value."

"If you wanna be better and if you want to progress in your life, give yourself grace and take small steps. We have to start somewhere and build off that and progress. That's the only way to go about it," Brandon said to much applause.

South Africa was named 2024 Mister Supranational, and Netherlands was first 1st runner-up.

— LA, GMA Integrated News

Monday, 10 June 2024

Manila Is the World's Top Luxury Real Estate Market

Manila Is the World's Top Luxury Real Estate Market, Says Report

Story by Currie Cator 
Esquire Philippines
10 June 2024

Isn't it ironic that the Philippines is becoming more appreciative of luxury properties when many Filipinos still do not have their own homes? However, as this report from global property consultant Knight Frank reveals, Manila has become the fastest-growing high-end real estate market in the world, unseating Dubai. 

Makati City daytime

Makati City nighttime

Manila recorded 26.3 percent of annual price gains in luxury residential properties last year, the highest of all 100 markets analyzed in the report. Dubai, previously the frontrunner, slipped to second place, with a price growth of 15.9 percent. The Bahamas followed with 15 percent; while the Algarve in Portugal and Cape Town in South Africa saw prices jumping by 12.3 percent, rounding up the top five.

Overall, luxury residential markets still came out a bit stronger than expected, even while facing significant headwinds like the nonstop interest rate hikes and the rising living costs globally. Across the 100 markets tracked by Knight Frank, 80 recorded flat or positive annual growth in 2023, with luxury prices going up by 3.1 percent on average. This was regarded as "a solid gain."

"Stock markets were heading for more pain; inflation was veering out of control; and the pandemic-fueled property boom was set to end in tears, as borrowing costs hit 15-year highs in some markets," Kate Everett-Allen, head of international residential and country research at Knight Frank, said in the report. "However, that never happened. We’ve seen a much softer landing in terms of price performance around the world."

The Asia-Pacific region emerged as the strongest-performing region across the globe, with annual luxury prices increasing by 3.8 percent. Joining Manila in the top five markets with rapidly growing price gains are Mumbai, Shanghai, Seoul, and Auckland. According to the report, the Asia-Pacific may be seeing more wealth than any other region in the years leading to 2028, with Chinese investors and the Japanese real estate at the forefront.

Knight Frank, headquartered in London, prides itself as one of the world's leading independent real estate consultancies. Through its yearly wealth report, it provides insights on prime property markets, global wealth distribution, threats and opportunities for wealth, commercial property investments, and luxury spending trends.

Manila Moves Up in 2024 Global Top 100 List of Emerging Startup Ecosystems

Manila Moves Up in 2024 Global Top 100 List of Emerging Startup Ecosystems

Story by Paul John Caña 
Esquire Philippines 
10 June 2024

Despite funding challenges and a general air of uncertainty, Manila’s startup ecosystem is bouncing back and is showing signs of recovery. The biggest proof is that the country’s capital has moved up in the annual ranking of the world’s Emerging Startup Ecosystems. From last year’s 91-100 spot, Manila is now at 81-90, driven mainly by growth in the fintech, e-commerce and gaming sectors. 


Manila shares the 81-90 spot with global startup ecosystem heavy hitters like Las Vegas (Nevada, USA), Columbus (Ohio, USA), Kansai Region (Japan), Bucharest (Romania), San Bernardino and Santa Barbara (California, USA), Turin (Italy), Madison (Wisconsin, USA), and Ho Chi Minh City (Vietnam). 

Manila placed higher in the list than cities like Rio De Janeiro (Brazil), Leipzig (Germany), Cape Town (South Africa), Valencia (Spain), and Adelaide (Australia).

According to the ecosystem focus page, the GSER estimates Manila’s total startup ecosystem value at $6.4 billion (about P375 billion) as of the second half of 2021 to 2023. This is up significantly from last year’s estimate of $3.5 billion but still far from the global average of $29.4 billion. 

"In 2023, startups in the Philippines raised $960 million across 96 deals," the report said. "In mid-2023, Manila-based VC Kaya Founders closed $12 million in new funds, aiming to broaden their investment focus across pre-Seed to Series A stages."

Kaya Founders is one of the country’s most prominent investment firms focusing on early-stage startup companies. It has invested in many of the country’s top startups, including Etaily, GoRocky, Kindred, Kraver’s Canteen, Locad, Netbank, Plastic Credit Exchange, Paymongo, Peddlr, Toki, and many more. 

By the numbers

Manila’s startup ecosystem value grew a hefty 72 percent between the periods of the second half of 2021 to 2023 versus the second half of 2019 to 2021. For comparison, the global average in ecosystem value growth was only 46 percent last year. 

Total early-stage funding in the country (also from the second half of 2021 to 2023) was at $371 million (vs global average of $655 million), while total venture capital funding was at $1.1 billion between 2019 to 2023 (vs global average of $4.6 billion).

Manila also ranked in the GSER’s Top 15 of the Asia Ecosystem in Bang for Buck, Top 20 in Asia Ecosystem in Funding, and Top 30 in Asia Ecosystem in Performance.

"The Philippines is rising steadily in the Global Innovation Index, from #100 in 2014 to #56 in 2023, with plans to break into the top 50 by 2028 as outlined in the 2023-2028 Philippine Development Plan," the report said. "The Department of Trade and Industry (DTI), Department of Science and Technology, and Department of Information and Communications Technology lead efforts to support the country’s tech startup ecosystem. The National Innovation Council leads in developing the country’s innovation goals, priorities, and long-term national strategy."

Looking at the sub-sector strengths, the GSER highlighted the 38 percent growth, from 216 companies to 299, between 2021 to 2023 in fintech. Thanks to the Bangko Sentral ng Pilipinas Digital Payments Transformation Roadmap, digital retail payments soared from just one percent in 2013 to 50 percent of all transactions in 2023.

In e-commerce, the Philippines ranked fifth in the region for e-commerce traffic thanks largely to the extreme popularity of online marketplaces Shopee and Lazada, whose combined user bases is expected to balloon to 60.41 million by 2027.

And in gaming, the country is still the world’s undisputed leader in Web3 gaming interest for the third year in a row. The report made special mention of the Web3 Gaming Summit hosted by YGG last year and the launch of the country’s first esports course at Lyceum Philippines University.

In some ways, the GSER made many of the same points highlighted in the 2024 venture capital report released by Foxmont Capital Ventures and Boston Consulting Group. That report acknowledged the slowdown in funding for startups over the past year but still chose to shine a light on other bright spots in the startup ecosystem, including the country achieving a record number of deals, and how much the country is growing its share of regional capital.

Finally, the GSER put the spotlight on some major players in the country’s startup ecosystem, including the Gobi-Core Philippines Fund, Plug and Play Tech Center, Ideaspace, Launchgarage Innovation Hub, Brainsparks, and Startup QC.

"The Philippines invests in its startup ecosystem to create opportunities for a more prosperous and sustainable future, enhance quality of life, bolster global competitiveness, and foster innovation by addressing the critical challenges of our society and changing market needs," the report quoted DTI Usec. Rafaelita M. Aldaba of the agency’s Competitiveness and Innovation Group as saying.

Regional rankings

This year’s GSER report also includes a ranking of startup ecosystems by region. In Asia, Manila made it to the 21-25 ranking, tied with Bangkok (Thailand), Wuhan (China), Kansai Region (Japan), and Ho Chi Minh City (Vietnam). 

Asia’s top startup ecosystem this year is Singapore followed by Beijing, Seoul, Tokyo, and Shanghai.

For other Southeast Asian cities, Jakarta was at 12th place, second only to Singapore. The Indonesian capital was followed by Kuala Lumpur at 16th, Manila, Bangkok and Ho Chi Minh, and Hanoi at 26-30.

State of global startups

The GSER recognized the global downturn in startup metrics, including VC funding, and exit deal value, saying that both fell below the 2019 levels but, as in the Foxmont-BGC VC report, chose to look at the bright spots.

"While global Series A funding fell 46 percent in 2023 compared to 2022, average Series A deal size increased in H2 2023 compared to H2 2022," the report said. "Q1 2024 shows signs of further improvement. The Cleantech and Generative AI (GenAI) sub-sectors offer another positive note, demonstrating that frontier innovation can still attract investor enthusiasm regardless of global funding conditions."

The top 3 in the global top 40 ecosystems retained their positions from last year, with Silicon Valley still at number one and New York and London tied at second place. Tel Aviv has moved up one rank and is now tied with Los Angeles at number 4, while Tokyo has entered the Top 10 for the first time, moving up to number 10 from number 15 last year. 

The GSER 2024 is the 12th edition of the report that "provides insights into the world’s leading startup ecosystems, emerging trends, and key challenges facing entrepreneurs." Startup Genome says the report is based on an extensive study of more than 4 million companies across over 350 startup ecosystems.