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The Philippines will deport 40,000 Chinese workers in a crackdown on unlicensed online gaming businesses, an official said Tuesday, after reports of kidnapping, prostitution and murder in the gambling industry.
MANILA (Philippine Daily Inquirer/Asia News Network): The Philippine economy stands to lose almost P200 billion annually—from office and residential rentals, income taxes, electricity bills, employees’ wages and regulatory revenues, among others—if the remaining players in the local online gaming industry are shut down, a property analyst who closely follows the Philippine offshore gaming operators (Pogos) said.
A total ban on Philippine offshore gaming operations may trigger another crisis in the real estate industry and spill over to the economy as it could translate to annual losses of nearly P200 billion, an industry player has warned.
The Philippine office segment, the residential sector and tourism are well positioned to enjoy strong growth arising from the opportunities brought about by “a multitude of global headwinds” including global inflation and rising interest rates, according to David Leechiu, CEO of leading real-estate services firm Leechiu Property Consultants (LPC). The…
The Information Technology and Business Process Association of the Philippines is optimistic of the industry’s growth in the coming years, creating more demand for office spaces despite the shift to hybrid work models.