PH most resilient among developing countries
Philippines is now being considered as one of the most resilient countries in the world in terms of adjusting and recovering from natural disasters, economic and political shocks, increasing demographics, and new technologies.
KPMG International recently released its 2015 Change Readiness Index (CRI), a study that ranks 127 countries for their capacity to prepare for and respond to accelerating change brought about by everything from natural disasters and economic and political shocks, to long term trends such as demographics, and new technologies.
The recent report cited the Philippines as the most change-ready country among the nations under the lower-middle income category.
Produced in partnership with Oxford Economics, the CRI is the only global study of its kind, designed for use by both the public and private sectors to better inform decisions on policy making and investments.
“A country’s wealth is certainly a contributing factor, but many countries compensate for lesser wealth with robust governance, a strong social foundation, and a positive business environment,” Timothy Stiles, Global Chair for International Development Assistance Services (IDAS) of KPMG International, said.
“A revealing trend from this year’s CRI is that countries with higher scores for more inclusive economies tend to perform better in the Index, while conversely, income inequality tends to be associated with low change readiness,” he added.
A number of lower income countries perform well in the CRI, demonstrating the benefits of effective policy and investment in compensating for lower levels of wealth.
“The Philippines in particular exemplifies the importance of change readiness,” said Trevor Davies, Executive Director for the IDAS Center of Excellence, KPMG International.
“Much of the country was devastated by Typhoon Haiyan in 2013, but the Philippines’ effective policies and institutions have enabled it to persevere, and it is projected to be one of the world’s fastest growing economies in 2015,” it added.
R.G. Manabat & Co. is the Philippine member firm of KPMG International.
“The 2015 CRI is a powerful tool to gain a deeper understanding of a country’s change readiness. It sparks relevant discussions on how both public and private organizations can help prepare for and respond to change while taking advantage of opportunities that this study presents for each country,” said Emmanuel Bonoan, chief operating officer of R.G. Manabat & Co.
“This is especially true for the Philippines which has been identified as the most change-ready in the lower-middle income nations,” he added.
The release of the CRI comes as United Nations member states prepare to adopt Sustainable Development Goals in September that will help guide policies for the next 15 years.