The Philippine digital economy has significant growth potential, driven by digital adoption among businesses and innovation led by Gen Z. Achieving these aspirations, however, requires collaboration among key stakeholders.
Darius Delgado, Globe’s Chief Commercial Officer, underscored this need during the “Paving the Path to a Digital Philippines” fireside chat at the GSMA Digital Nation Summit in Manila.
Building a Strong Digital Foundation
The Philippine telecommunications sector has established a robust infrastructure, bridging the digital divide and promoting inclusion. Over 6 million postpaid broadband customers and more than 120 million wireless network users are connected, supporting an ecosystem of 87 million online users.
Platforms like GCash have empowered over 90 million Filipinos, including 6 million merchants and social sellers. GCash also creates opportunities for jobseekers through the GJobs platform and offers digital tools for entrepreneurs.
The digital economy contributed PHP 2.08 trillion to the country’s economy in 2022, accounting for 9.4% of the gross domestic product (GDP), according to the Philippine Statistics Authority.
Despite these milestones, Delgado emphasized that partnerships between the government and private sector are essential to maximize the digital economy’s potential. Joint investments, regulatory support, and coordinated efforts are needed to build a sustainable digital ecosystem.
“By working together, we can accelerate infrastructure development, promote digital literacy, and foster inclusive economic growth,” he said.
Tapping Gen Z and B2B Opportunities
With a median age of 24.8 years and 42 million Gen Zs, the Philippines has a unique advantage to leverage youth-driven innovation.
“In the next five years, around 11 million new customers will enter the mobile market with a mobile-first mindset. This creates significant opportunities in the consumer segment,” Delgado noted.
In the B2B sector, Delgado highlighted a lag in digital adoption among enterprises compared to consumers. He stressed the importance of educating businesses on how ICT solutions can improve operational efficiency and customer experiences.
“There’s still a lot of room for awareness and education to help businesses unlock their full potential,” he said.
AI and Cybersecurity: Priorities for the Digital Age
Artificial intelligence (AI) will play a critical role in the Philippines’ digital transformation. Delgado said Globe is investing in AI technologies while upskilling its workforce to ensure responsible usage.
“You must leverage AI to stay competitive. Gen AI won’t replace people, but those skilled in using it will replace those who don’t,” he said.
Delgado also stressed the importance of trust in the digital age, particularly in the face of increasing cyber threats and scams. He noted that Globe has enhanced its cybersecurity measures and works closely with GSMA to push for stronger regulations and industry standards.
“The most important currency today is trust. Without it, even the best services won’t succeed,” he said.
A Vision for Inclusive Growth
Delgado reaffirmed the telecommunications sector’s role in addressing societal challenges through technology, including health, education, and financial inclusion.
“We are at the cusp of digital transformation. It is our responsibility as telcos to drive growth and ensure that the bright future every Filipino envisions becomes a reality,” he said.
With sustained collaboration, innovation, and investment, Globe and other industry players aim to empower businesses, harness Gen Z’s potential, and advance inclusive progress in the digital era.
