Philippines: Business freedom

* indicates monthly or quarterly data series

Business freedom index (0-100)

 Latest value 70
 Year 2024
 Measure points
 Data availability 1995 - 2024
 Average 57
 Min - Max 43 - 70
 Source The Heritage Foundation
For that indicator, we provide data for the Philippines from 1995 to 2024. The average value for the Philippines during that period was 57 points with a minimum of 43 points in 2011 and a maximum of 70 points in 1997. The latest value from 2024 is 70 points. For comparison, the world average in 2024 based on 175 countries is 62 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Philippines - Business freedom - Recent values chart

Historical chart
Philippines - Business freedom - historical chart - 1995-2024

The Business Freedom index for the Philippines from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of the Philippines in the regulatory process.
Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).

 Related indicators Latest value Reference Measure
 Property rights 46 2024 points
 Freedom from corruption 34 2024 points
 Fiscal freedom 41 2024 points
 Business freedom 70 2024 points
 Labor freedom 58 2024 points
 Monetary freedom 65.80 2024 points
 Trade freedom 74 2024 points
 Investment freedom 60 2024 points
 Financial freedom 60 2024 points
 Economic freedom, overall index 59 2024 index points
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