is it possible that 'industrialised country' does not mean the same thing as it used to be 20 years ago. Though wikipedia counts Philippines as NIC or newly industrialised country, meaning still behind 'Developed countries' but ahead of other 'developing counties'. Newly industrialized country
I think the game has changed substantially in todays global scene. There is no questioning the fact that things like rule of law, protection of individuals rights, control on corruption, clean drinking water, electricity and access to health care, etc will always remain basic building blocks that a stable country has to provide. With globalisation and rise of knowledge economy there are several new dynamics into play. Even though there are several challenges still to overcome, Philippines has made great strides in the recent years on the basic building blocks. The proof is in the increasing number of residents of developed countries choosing to relocate or retire in Philippines. Challenge is to make it all available to the weakest or the weak at the farthest and most remote corner of the country.
Philippines has a large pool of very young population, they are educated and ready to participate in the knowledge economy in a meaningful way. The costs are still very reasonable and thus making output from the country very competitive globally. Culturally philippines is very much in sync to the global scene, there is very little cultural or language barrier to talk about. Accepting foreigners with open arms helps in bringing the catalyst for innovation, risk taking and startups, those are the things that made countries like USA and Singapore successful. All of this in addition to the beautiful country side and wonderful smiling people puts Philippines on the top of the competitiveness charts.