The COVID-19 pandemic brought “huge swaths” of new digital investors to the Philippines, according to a study conducted by US-based broker-dealer DriveWealth.
DriveWealth CEO Bob Cortright said that “this new paradigm of investing is being driven by factors that are breaking down the traditional barriers to investing,”
He added that “embedded finance platforms are making the markets more accessible than ever before, with mobile technology making it easier for investors of all ages to tap the markets from the comfort of their own homes.”
The firm’s Global Retail Trends Report for Q1 2022 found that lockdowns and remote working resulted in “remote investing” in advanced and emerging markets.
In the Philippines, 48% of respondents belong to this new generation of investors or those who started after the onset of the pandemic—well above the global average of 35%.
Many among these new investors have less than $10,000 at their disposal and, among Filipinos surveyed, 39% were motivated by their ability to start with a small amount.