MANILA, Philippines (AP) — Just three years ago a new car and an overseas holiday were unthinkable luxuries for J. Ante and her family of six. The insurance company manager's commissions have soared since then as the Philippines, blighted for a generation by venal and incompetent leaders, has unexpectedly boomed, putting middle class comforts within tantalizing reach of many.
The $250 billion economy surged 7.8 percent in the first quarter of this year, outpacing China, and a middle class stunted by widespread poverty, political strife and corruption is beginning to share in a prosperity captured for decades by a clannish business and political elite.
The growing affluence and a burgeoning population have lured many global brands. Students and office workers flock to gleaming outlets opened by Zara, Gap, Forever 21, Starbucks and Japan's Uniqlo. New apartment blocks are springing up on almost every corner of metropolitan Manila and other cities, often clustered around malls and office buildings housing outsourcing businesses such as call centers, which are forecast to earn around $25 billion by 2016.
Luxury car maker Rolls Royce said it was flooded with inquiries since it opened its first dealership in Manila two weeks ago. The first car selling for $605,000 went to a popular TV show host, according to newspaper reports.
"Last year and this year have been a big leap in terms of my total income," Ante said. "Times have become better for our family."
She said three years ago it was difficult to come up with the school fees for her four children. Travel abroad or a new car were impossible, but "they seem more realistic now since my income is growing at a faster rate," she said. The family holidayed in Hong Kong this year and a vacation in the U.S. and Canada is planned. They hope to afford a family-friendly Toyota Innova this year.