MANILA – The Philippine economy will get additional boost from its citizens by 2015 as it enters the demographic “sweet spot” or average age of Filipinos 22.2 years, Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said in a press release yesterday.

Tetangco said a United Nations study showed that the country is the last major economy in Asia that will benefit from a period wherein bulk of the population is of working age and has the capacity to spend.

“Studies have showed that extended period of accelerated growth have coincided with the country’s entering this period,” Tetangco said during the last day of the two-day Philippines Investment Forum: The New Beginning in Makati City.

Tetangco stressed that because of this “sweet spot”, the economy “is well-placed to ramp up its growth trajectory,” the press release said.

He explained that the “sweet spot” factor as growth driver of an economy has been proven in Thailand and Malaysia, among others.

It is not an issue whether the job of those belonging in the working age pays them high salary noting that what is important is that they are employed “and help fuel growth in the economy”, Tetangco explained.

About half a million students graduate every year in the Philippines and many of these individuals target to be employed in the business process outsourcing sector.

Tetangco said the country is now an important BPO center worldwide due to the supply of skilled individuals, who when accepted to be part of the sector is paid above the minimum salary thus, they boost spending, the press release added.

“If you’re an investor and you’re looking at the potential of an economy in terms of the size of the market then you’ll consider these demographic window that the Philippines is about to enter,” Tetangco also said.*PNA

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