Globe sees strong growth potential in digital landscape – BusinessWorld Online
GLOBE TELECOM, INC. is banking on the Philippines’ upbeat digital outlook, citing a tech-savvy population and supportive policies as it accelerates network expansion.
“I’m hopeful and optimistic about the Philippine telecom industry because we still have many opportunities ahead… We have a young population, strong digital habits, and real demand. We need to further unlock that potential,” Globe President and Chief Executive Officer Carl Raymond R. Cruz said in a media release on Sunday.
Globe said the Philippines is becoming more connected and that the country is well positioned to capture expanding digital growth.
“The country’s outlook remains positive. The Philippines has a young, tech-forward population and a policy environment that recognizes the importance of digital access,” the company said.
The company said these factors position Globe to continue strengthening its network while allowing it to offer solutions that support emerging digital capabilities.
Globe also said the growing adoption of artificial intelligence (AI) will place additional strain on both wireless and fixed networks. It added that building a national fiber backbone is a crucial step in meeting future digital demand, as mobile networks may not be sufficient on their own to support projected traffic growth.
The country’s digital economy is set to reach $36 billion in gross merchandise value (GMV) this year, supported by rapid adoption of e-commerce, transport and delivery services, digital finance, and AI, according to a report by Google, Temasek Holdings and Bain & Company.
The report projected that the country’s overall digital economy could reach $70 billion to $140 billion in GMV by 2030, slightly lower than last year’s forecast of $80 billion to $150 billion.
The Department of Information and Communications Technology (DICT) aims to raise the digital economy’s share of total output to 12.5% by 2028, fast-tracking digital infrastructure projects and attracting hyperscalers to operate in the country. — Ashley Erika O. Jose
