Philippine economy on cusp of growth amid tech advancements, sustainability focus — Laguesma

THE PHILIPPINES is on the cusp of a significant economic growth in 2025, which will be driven mainly by technological advancements, as well as the heightened focus on sustainability and wellness, according to its labor chief.

“The Philippines is on the transition of a substantial economic expansion, fueled by technological breakthroughs, heightened environmental consciousness and a growing emphasis on healthcare and wellbeing,” Labor Secretary Bienvenido E. Laguesma told BusinessWorld in a Viber message.

On this note, he said emerging sectors, such as the digital economy, green economy, blue economy, and care economy, are “projected to experience significant growth.”

Federation of Free Workers President Jose Sonny G. Matula likewise expects growth in tech-driven industries as the Philippines is rapidly becoming a global player in technology due to its skilled workforce and supportive business ecosystem.

“In-demand roles include software developers proficient in programming languages like Python, Java, and C#, and data scientists who extract actionable insights to guide business decisions,” he told BusinessWorld in a Viber chat.

As a way to cope with this emerging sector, workers must be equipped with advanced technology skills, he added.

“Proficiency in digital fluency, business and data storytelling, data visualization, cybersecurity, robotics, and telemedicine will be crucial,” he said.

He also said it is critical for workers to have the ability to quickly learn and adapt to new technologies to catch up on the rapidly evolving job market.

The union leader added demand for healthcare workers would further rise this year as global health challenges underscored the need for more robust healthcare systems, increasing the need for professionals. 

“However, the sector faces hurdles such as brain drain, as skilled workers seek opportunities abroad,” he noted.

Moreover, Mr. Laguesma noted the transition to a more technology-driven economy poses challenges for certain industries.

Roles in administration, traditional security, manufacturing, and commerce are projected to decline due to automation and digitalization, he said.

Jobs requiring technical support, sales, and clerical work are particularly vulnerable, as they face the highest risk of displacement by automation.

“In fine, jobs that provide technical support, sales and clerical works stand the highest exposure to automation,” he said.

Mr. Matula said urged the government to strategically plan, invest in human capital, and commit to continuous learning and adaptability to capture opportunities in emerging industries. — Chloe Mari A. Hufana