Philippines among Top 10 countries worldwide in telco investments

HSBC Philippines
Philippines Top telco investments
Globe Telecom has invested in cell towers and fiber modernization to meet the rising demand for connectivity. Photo from Globe.

The Philippines is among the Top 10 countries in the world when it comes to investments in telecommunications, according to the IMD World Digital Competitiveness Rankings of 2020.

With the demand for connectivity and internet access becoming essential in the new normal, spending to improve telecommunications infrastructure has aggressively increased.

Globe has embarked on wider and more inclusive builds and rollouts of its cell towers and fiber modernization to close the gaps in areas of the country where connectivity needs further improvement. At least Php 50.3 billion in capital expenditures has been allotted for Globe’s network expansion and upgrades for 2020.

“It’s been a number of years that the country has been over-indexing other countries when it comes to capital expenditures. For 2019, our capex to revenue ratio is about 34%. We expect to continue with the investments because of the increasing demand for our services,” said Ernest Cu, Globe President and CEO.

With the new government policies lifting the restrictive permitting process in place, investments in telecom infrastructure are focused on tower builds to expand coverage and increase capacity. Increasing fiber connections to homes is another investment opportunity to provide customers with better data experience. Countries with better infrastructure have shown better chances and capability to mitigate the impact of the pandemic on their economies.

“With better, faster, accessible, and affordable services, more opportunities will be made available to our people. These opportunities will then be translated to a more stable and stronger economy that hopefully will give the Philippines a better spot in World Digital Competitiveness rankings in the future,” Cu added.

Globe Telecom was recently awarded a Global Rising Star by Opensignal.

Globe is also upgrading old SIMs with LTE SIMs for FREE.

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The Good News Pilipinas Team
The Good News Pilipinas Team is a group of Filipino journalists who advocate putting more good news stories about the Philippines and Filipinos on the media.