The Philippines and the Pacific Economic Cooperation Council will hold a symposium on the Internet Economy on May 18 at the Crown Regency Beach Resort in Boracay.
The Asia Pacific Economic Cooperation (APEC) said the symposium will discuss the role of the internet in promoting inclusive growth and enabling innovative business practices as well the challenges and opportunities in harnessing this technology.
The symposium will be held at the sidelines of the Second APEC Senior Officials’ Meeting, an APEC announcement said.
The Internet has become increasingly important in the 21st century, and has played a role in connecting individuals, businesses, and industries given its increasing relevance in economic development, trade and investment.
The symposium aims to engage APEC Senior Officials, representatives of the APEC committees as well as representatives of the government, business, and academic sectors in a discussion on the development of the Internet economy.
The Philippines has more than 40 million Internet users, according to a report by We Are Social, a London-based social media agency. As more and more people are connected to the Internet, local businesses, including SMEs, have the opportunity to tap potential markets and improve profitability.
The Philippines is one of the fastest growing Internet audiences globally. With a majority of Filipino Internet users linked to social networks, the Philippines, at one point, has been recognized as the “Social Media Capital of the World.”