For decades, the Philippines never quite measured up, particularly when compared with its economically dynamic neighbors.
But things may finally be changing. Last year, the island nation of nearly 100 million people saw its gross domestic product grow 7.2%, just half a percentage point slower than China. The strong performance is backed by remittances from its industrious workers abroad, who sent home more than $20 billion in 2013, or roughly 10% of GDP. At home, an English-speaking workforce is also generating cash. The outsourcing industry is now worth about as much as those precious overseas remittances.
