Philippines gig economy boosted by young population, ICT

Manila Philippines

Many Filipinos are now turning into freelancers and part-time professionals and are participants in the country’s gig economy that has been boosted by the young population and ICT development. According to economics professor Aldrin Atienza of UST College of Commerce and Business Administration, there are at least 1.5 million online freelancers in the Philippines, most of them aged 24 to 35. Increasingly these millennials are demanding flexibility and independence, so freelancing will steadily grow, says Atienza. According to the Philippine Statistics Authority (PSA), the labor force has been getting steadily younger. In January, the PSA recorded that more than 60% of the population that were 15 years old and over are in the labor force. However, Josevy A. Taguibao of the University of Santo Tomas believes not everything about the gig economy is straightforward. He said many people do still stick to their jobs even if they are not happy because the job satisfies their financial needs, or they fear career change.

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