Over the course of the last five years, franchise industry professionals have developed an even greater interest in how expansion to Philippine based locations makes sense for brand development. This month, franchise professionals attended the four-day Franchise Asia event in Manila to encourage stronger relations and franchise expansion into the country.
In line with this increasing relationship between U.S. and Philippines based franchise industries, Franchise Direct will soon roll out its Franchise Asia – Philippines site, alongside Thailand and Indonesia. The three are part of an overall focus on Asian markets, including India, Malaysia, and Singapore, the last two of which were launched this spring in April. The Franchise Asia event in the Philippines took place July 17 - July 20 and featured approximately 50,000 attendees and 500+ exhibitors.
The Philippines has the seventh largest populace in Asia and is no stranger to challenges associated with its tropical maritime climate making monsoons and typhoons a part of life for many of the numerous island inhabitants. With three main island groups, locations for franchise activity are diverse, and mall-centric locations offer an ideal retreat for consumers from potentially inhospitable weather outdoors. Likewise, the cost of real estate in shopping malls is incredibly low when compared to other major Asian city markets.
Its ranking within the top 40 worldwide economies makes the Philippines a major contender for franchise businesses aiming to increase expansion efforts. Additionally, as English is commonly spoken and understood, connections with U.S. franchisors are more easily sustained. A push toward a stronger services and manufacturing focused economy in recent years is decreasing the country’s emphasis on its agricultural sectors. This month’s event featured appointed officials gathered by the IFA, the U.S. Embassy & U.S. Commercial Service as well as Franchise Times.