PH franchising sees up to 10% revenue growth in 2025; PH to be upper-middle income in 2026 even amid U.S. tariffs: Balisacan

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Transcript

00:00While the country's regulatory body for franchising admitted that the recent move by the U.S. President Donald Trump on tariffs will have a muted effect on franchise brands, the group reported that the country's franchising sector is expected to grow by up to 10%.

00:18These and more in tonight's Business Wrap from the Philippine News Agency.

00:22Shifting to business headlines, the country's franchising sector is expected to grow by up to 10% with a revenue of about P800 billion.

00:39The Philippine Franchise Association or PFA has expressed optimism about the industry's growth this year amid uncertainties in the market with the food segment being the main driver.

00:49PFA Chair Christopher Lim noted that the reciprocal tariffs from the U.S. will have a muted effect on Philippine franchise brands as players have diversified their supply base.

01:01PFA Director Shedel Quintana says there are around 120,000 Filipino franchise outlets to date, still lower than the pre-pandemic level of about 200,000 franchise stores.

01:11The franchise sector has created around 2 million jobs and contributed 7.2% to the Philippine economy to date.

01:19Meanwhile, Social Economic Planning Chief Arsenio Balisakan foresees the Philippines rising to an upper-middle income economy even despite the anticipated global growth slowdown brought by a brewing trade war.

01:32The Secretary of the Incoming Department of Economy Planning and Development anticipates that the country would graduate to upper-middle income country status by next year.

01:44Balisakan says this is assuming that the country's gross domestic product will expand by 6%, the lower end of the Marcos administration's growth target this year.

01:54He noted that the Philippines is unlikely to hit the higher end of the target due to the U.S. reciprocal tariffs causing global uncertainties.

02:03The Philippines is classified by the World Bank as a lower-middle income economy with a gross national income per capita at $3,950 as of 2022.

02:15That's a wrap for this week's MISCUS Headlines.

02:17Happy weekend everyone from the Philippine News Agency.

02:20I'm Bench Bondok for Balitang Pambanisa.

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