Franchising Industry In Philippines Sees 30% Growth In 2010

franchise-net.com:

The local franchising industry expects sales to grow between 20 and 30 percent this year to as much as P157 billion, driven by rosy economic prospects and high consumer confidence.

Samie Lim, chair emeritus of industry group Philippine Franchise Association (PFA), said last quarter’s 7.3-percent gross domestic product growth bode well for the franchising industry for the rest of the year.

The 7-percent rise in remittances to $4.3 billion, which would fuel domestic consumption, was likewise a positive development for franchisers.

Considering these circumstances, he said the group’s growth projection of 20-30 percent could even be “conservative.”

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