Philippine Franchise Association (PFA) chair Sherill Quintana has urged global franchise brands to make the Philippines as their "launch pad" in Asia. This, as the Philippines will host the largest franchise events in the world this month, including the Franchise Asia Philippines 2023-International Franchise Expo from Oct. 27 to 29, as well as the meetings of the World Franchise Council (WFC) and the Asia Pacific Franchise Confederation (APFC) from Oct. 24 to 30. "We are very excited with these because the future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market," Quintana said in a press conference in Quezon City Monday. She said the local franchise industry is expected to be vibrant, with revenue growth rate of 10 to 13 percent over the next five years. According to PFA, total revenues of Philippine franchise industry hit PHP27 billion, which exceeded the pre-pandemic level of PHP25 billion. This means the local industry could hit PHP30 billion in revenues at end-2023. Expo PFA president Chris Lim said the expo will be the biggest franchise show that the country hosted in the past 10 years. "More than a decade ago was the last time it was held in the Philippines, so really a very momentous occasion. And what a great way to really celebrate and to really show that we're back in business, that the franchise industry in the Philippines is as vibrant as ever," Lim added. Franchise Asia Philippines 2023 overall co-chair Richard Sanz said this will be the first time for a franchise event to occupy the entire SMX Convention Center in Pasay City to showcase 1,000 local and global franchise brands from 26 countries. Sanz added that 39 percent of the expo participants are new exhibitors with new concepts such as breastfeeding center, agriculture supplies, automated retail and convenience store, vape store and kickboxing gym. "(This) speaks of the vibrancy of the franchise sector with new players joining the market," he said. Sanz said 20 percent of the participants are international brands from Australia, China, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand and the United States. More than 50,000 exhibitors are expected to attend the expo. "This highlights the continued interest among Filipinos in franchising as an investment option," he added.
Source: Philippines News Agency