If agriculture has historically been the engine of economic growth of the Philippines, it looks like a new engine is driving it these days—services. Services is where the real growth is actually coming as this issue’s banner article discusses. Not only does it contribute significantly to economic output, it also creates millions of jobs. Services is also where substantial amounts of foreign direct investment are being poured in these days. Whether we are on the road to becoming the second India remains to be seen. But with our relatively developed infrastructure, cost advantage, and skills and creativity, many analysts say that we can even surpass the Indians.
