With its increasing foreign direct investment, expanding property market, increasing tourism and strong economy the Philippines looks set to be a leader in Asia's recovery from the global economic crisis.

Despite the global recession, Standard & Poor have adjusted the Philippines' long term foreign currency credit rating up a notch. Governor of the Central Bank of the Philippines stated the upgrade was a "statement of confidence of the country's bright prospects moving forward".

The Philippines' economy has weathered the recession well with a GDP expansion of 6.7% in the third quarter of 2010 and 7.7% year on year.

Confidence in the Philippines' economy overseas is such that the levels of foreign direct investment are on the increase. Indeed, the Philippines' has now even taken the title of call centre capital of the world from India, with revenues expected to rise from current levels of $12 - $13 billion to $100 billion by 2020.

Tourism to the Philippines' tropical beaches is also seeing strong gains with British visitors in particular coming in their droves. The number of British visitors to the Philippines rose by no less than 11% between January and July 2010 and the Philippines' department of tourism expects over 100,000 British tourists by the end of 2010.

The expanding economy, young workforce, increasing revenues from the tourist sector and increasing levels of foreign direct investment are encouraging a thriving property market and foreign investors are increasingly looking at property investment in the Philippines.

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