DOMESTIC AND INTERNATIONAL COSMETICS PLAYERS SEEK TO PROFIT FROM GROWING PHILIPPINES MARKET
April 1st, 2013
INTERNATIONAL and domestic cosmetics brands are capitalising on strong economic growth in the Philippines, which at 95 million has the 12th biggest population in the world. It is also among the Next Eleven economies highlighted by Goldman Sachs with a high potential of becoming, along with the BRICS, the world's largest economies in the 21st century. GDP growth was around 7% in 2012, and rising disposable incomes, particularly among the country's growing middle class, are driving strong demand for cosmetics among both men and women.The value of the beauty and ...
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