Financial independence, business ventures among top priorities of today’s Filipino women—study
A recent study has shown that Filipino women today consider financial independence and business ventures as their top priorities in life.
After conducting an online survey as focus group discussions with over 500 Filipinas “from different income status levels, generations, and rural or urban residences in Metro Manila, Visayas, and Mindanao,” researchers at marketing communications agency Wunderman Thompson Philippines found that 33% of them prioritize being financially independent, while 24% of them are looking to start their own business someday.
For most Pinays (42%), financial independence is a top measurement of success—ahead of physical health and fitness (37%). “These numbers reflect the shift in Filipinas’ goals especially when compared to the 2017 result, which ranked ‘reaching a higher level of spiritual awareness’ as women’s top priority,” as stated in the study.
Additionally, 39% of the participants shared that they feel more confident to talk about their finances (up from 21% in 2017), while 43% said they know how to manage their money well (up from 24% in 2017).
According to the report, the aforementioned results match up to consulting firm Frost & Sullivan’s recently-concluded research, which noted that the Asia-Pacific region could have the biggest female workforce by 2030. “Last year, the same study reported a global female income of over $24 trillion, proof that women are taking charge of their finances as employees, leaders, and even pioneers in their respective fields.”
Conducted annually by Wunderman Thompson Philippines, this year’s Filipina Forward study provided “an intimate look at how Filipinas are faring in their personal and professional lives and their changing priorities in an evolving world,” said CEO Golda Roldan.
“The pandemic weighs heavily on their feedback this year, but we are proud to see the strides that Filipino women are making based on the roles they play at home and at work, and how they see their personal self,” she added.
Article thumbnails from Wunderman Thompson Philippines