Freelancing and financial freedom: Boosting the economy one project at a time

The gig economy in the Philippines is a rising giant

- By CECILE J. BALTASAR

In 2020, at the height of the COVID-19 pandemic, the Philippine Institute for Development determined that freelance earnings in the Philippines surged to 208 percent. According to a study conducted by GCash and Payoneer in 2023, 1.5 million Filipinos are registered in international online job markets for freelancers.

This year, the country has been found to be the world's seventh fastest-growing hub of remote work based on a study performed by the Nomad List. The list is a platform powered by 10,000-plus global digital nomads.

With Filipinos turning to project-based freelance work to augment their income amidst rising prices, they are inadvertently helping boost the Philippine business industry. Informal as its set-up is, the gig economy in the Philippines has been supporting various industries as more Filipino freelancers work with both local and international clients.