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Saturday, October 02, 2004
P&A names ‘winning businesses’
PUNONG-BAYAN & Araullo principal Antonio Herbosa has become an advocate for what he calls the farm model for the Philippine economy.
The premise here is that the Philippines should position itself as the supplier or breeder of people with high emotional quotient (EQ) to the world market.
That means, among other things, a shift in educational focus from liberal arts degrees and management majors to technical-based courses and anything that requires a one-on-one relationship such as care-giving.
Right now, there are an estimated 2.8 million Filipinos working abroad.
In 2003 alone, government data showed 867,969 were deployed abroad.
During the same year, remittances totaled $7.6 billion, which accounted for only 70 percent of total money sent back home. (The 30 percent balance does not pass through the banking system).
List
Because the farm model is basically consumption-driven and budget-conscious, Herbosa has come up with a list of winning businesses to get into right now: fast food; strip malls and tiangges; sachets and tingi-tingi; prepaid cards; nursing schools and English tutorials; shorter degree courses; manpower agencies; multi-level marketing; midnight madness sales; and remittance and reverse migration sales.
(October 2, 2004 issue)
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