2024菲律宾金融科技行业报告 Fintech Industry in the Philippines 2024 Bridge finance and future.docx

Bridgefinanceandfuture

FintechIndustryinthePhilippines2024

Preface

AsarapidlydevelopingSoutheastAsianeconomy,thePhilippinesisexperiencing

unprecedentedgrowthinitsfintechindustry.Increasinginternetpenetration,

widespreadsmartphoneadoption,andstronggovernmentsupportforthedigital

economyhavefosteredaflourishingfintechecosystem.Thisgrowthisbringing

moreconvenientfinancialservicestothearchipelagicnationofover7,000islands.

Thisreportaimstoanalysethecurrentstateanddevelopmenttrendsofthe

fintechindustryinthePhilippines,whilealsoguidingreadersthroughthe

opportunitiesandchallengesfacingtheindustry,suchasdigitalinfrastructure

developmentandfinancialinclusion.

Thisreportisacomprehensivedataanalysis.Theconclusionarederivedfromobjectivedataanalysiswithoutanybiasedopinion▌

Contents

01

Preface

17

ChapterIII:Fintechindustrytrends

03

ChapterI:Philippinesmarketoverview

20

ChapterIV:Industryopportunitieschallenges

08

ChapterII:Fintechecosystem

23

Conclusion

PHILIPPINESa

MARKETOVERVIEW

4.FINTECHINDUSTRYINTHEPHILIPPINES2024

4

PhilippinesGDP(2018-2023)(inbillionUSD)Thefastest-growingeconomy

PhilippinesGDP(2018-2023)(inbillionUSD)

ThePhilippineeconomydemonstratedresiliencein

2023,achievingagrowthrateof5.6%,makingitthefastestgrowingeconomyinSoutheastAsia.The

WorldBankforecaststhatitseconomywillmaintaingrowthmomentum,withanaveragegrowthrate

risingto5.9%between2024and2026.Theglobal

economicrecovery,strongdomesticdemand,andinvestmentaresignificantgrowthdrivers.

In2023,theinvestmentapprovalsinthePhilippinesreachedahistorichighof1.16trillionPHP,with

foreigninvestmentapprovalsincreasingby452%

383

363

352

332337

332

319

comparedto2022▌2018