Low standard of living
Looking forward, the Philippines may grapple with a persistently low standard of living for many of its citizens, despite reported economic growth.
Class disparities would remain stark, with economic gains failing to trickle down to the average Filipino. While local elites maintain wealth and influence, the majority would face lower purchasing power, driven by stagnant wages and a rising cost of living. As a result, deteriorated housing may become more prevalent, and access to quality healthcare and education could diminish.
The implications extend to life expectancy, with medical expenses becoming prohibitively costly for many. Additionally, skepticism towards higher education may grow, further exacerbating the income gap as skilled labor remains in short supply.
In conclusion, addressing these disparities and ensuring tangible improvements for all Filipinos should be a priority to foster a more equitable society.
Selected Quotes
...Finance. I don't know, I think we'll just stay the same honestly...I don't really know much about...[what's] going on [in] the finance sector...in the Philippines.
I think [the general financial situation in the Philippines] will just be the same; it'll just be...hard to live. I guess...the class disparities would still be there.
There would be people who are the clear winners, and then there wouldn't be a lot of skilled labor because [the] education system wouldn't be reformed. So...some people [would] not be...[able to earn] more money just because they don't have the skills, because I feel like if there's no investment going into education...it won't happen.
I think [this skepticism] comes from the recession and everything, that a lot of people don't think they need [college]...like you don't need to go to college, but a lot of people are seeing less value in pursuing tertiary education...they're like: "You don't need a college degree to get a job or make money". And I agree...[that] you don't need it, but it's also...important to consider [it at least]...because it's the only time in one's life when you're intellectually free, then you're...back to the grind working a job.
Tingin ko by 2040, capitalist pa rin yung nation because remember, yung mga elites natin they have a lot of money so they will do all they can to keep the status quo na anumang digmaan yan.
I think yung mid-scenario is that people na gaya ng everyday people like us would not live to see seventy. Marami sa atin hindi magiging seventy years old kasi sobrang hirap ng buhay. O ngayon kahit anong taas ng sahod mo kung ikaw na ospital, wala yan sa isang iglap. Naalala ko yung nagka lung cancer nanay ko naoperahan kami, o in the hole kami kaagad ng easy ?240,000 nun. O kahit yung sahod ko for example 70k ako ngayon, maghihirap pa rin kami. Masesetback kami ng ilang taon. Ilang taon yan. Yung kung makita mo yung bahay namin nalalaglag na yung kisame sa amin. Hindi lang natutuluan ng ulan, nalalaglag na yung kisame
So ngayon, tingin ko finance, personal finance, yung mga tao they would experience higher cost of living, tsaka lower wages which comes to, alam mo yung dati marami ka nang mabibili sa ?3,000, ngayon konti na lang...Yung parang yun nga yung cost of living pero yung sahod hindi pa din so maraming maghihirap.
