Philippines will become the world's 16th largest economy in...

The global research department of HSBC has released a report predicting the rise and fall of the world’s economies in the next 40 years.

Among the smaller, developing nations, there are several surprises by HSBC prognosticators:

* By 2050, the Philippines will leapfrog 27 places to become the world’s 16th largest economy.

* Peru’s economy, growing by 5.5% each year, jumping 20 places to 26th place – ahead of Iran, Columbia and Switzerland. Other strong performers will be Egypt (up 15 places to 20th), Nigeria (up nine places to 37th), Turkey (up six spots to 12th), Malaysia (up 17 to 21st) and the Ukraine (up 19 to 45th).

* Japan’s working population will contract by a world-top 37% in 2050 – yet HSBC economists predict it will still be toward the top performing economies, dropping only one spot to the 4th largest economy. India will jump ahead of Japan to 3rd on the list.

* The big loser in the next 40 years will be advanced economies in Europe, HSBC predicts, who will see their place in the economic pecking order erode as working population dwindles and developing economies climb. Only five European nations will be in the top 20, compared to eight today. Biggest drop will be felt northern Europe: Denmark to 56th ( -29), Norway to 48th ( -22), Sweden to 38th (-20) and Finland to 57th (-19).

HSBC 2050 list of top economies (change in rank from 2010)

PH vehicle, parts makers want a bigger pie of the Asean market by 2015

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Pulilan, Bulacan—To further boost the Philippine economy and the automotive industry, the vehicle and parts manufacturing sector led by  the Philippine Automotive Competitiveness Council Inc. (PACCI) has sought government help in crafting a strategic expansion plan that will allow it to achieve economies of scale and capture a significant share in the Association of Southeast Asian Nations (Asean) single market starting 2015.

Impact of the industry

In a 2010 study by Cid Terosa of the school of economics of the University of Asia and the Pacific, results showed that a "P1 increase in consumption or investment spending for motor vehicles will result in P3.67 worth of additional output in the economy."

The same study noted that a P100 billion worth of investments in the domestic automotive manufacturing industry could generate at least 169,061 new jobs.

The study further revealed that the output multiplier of Philippine automotive manufacturing industry was greater than that of all the investment priority industries of the Department of Trade and Industry, namely tourism, business process outsourcing and information technology services, electronics, mining, housingand agribusiness.

~Gerald

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Internet activities of ASEAN consumers

• The most popular online activity being undertaken across the Southeast Asia region is E-mail.  Heavy users are Malaysia, Philippines, Singapore and Thailand.

• News is number one in Vietnam. 

• In Indonesia, social networking is top of the list.

• In all of ASEAN except Vietnam, social networking ranks among the top five most popular online activities.

• About 81 percent of Filipino digital consumers have an active profile on Facebook, which is the second-highest in the region after Indonesia’s 90 percent.

• A further 51 percent of Filipinos surveyed were active on YouTube, while 32 percent were active on the micro-blogging site Twitter.

• Internet usage in some markets surpassing time spent on traditional media such as television, radio or print.

Reference: Nielsen Southeast Asia Digital Consumer Report