The Philippines is one of the most attractive household goods markets in Asia, a Fitch Group unit said, with spending in the segment expected worth over $5 billion dollars by 2022.

BMI Research, in a report released on Thursday, said household goods spending in the Philippines could grow by an average 6 percent annually over 2018 and 2022, with the segment forecast to be worth P197.5 billion ($4 billion) this year, rising to P249.7 billion ($5.1 billion) in 2022.

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