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Seems fitting that I came across this article just as I’m getting ready to leave for the Philippines on Sunday.
The Ad Age article describes how the Philippines has just built the world’s 3rd largest mall and also houses 4 of the top 12 biggest malls in the world.
Why does this matter? With the world going through a recession, it seems as though there might be something good happening in this tropical country… Read the rest below.
I definitely had my fair share of mall time the last time I went there. We spent one day in Manila visiting over 4 or 5 malls, each seeming to be bigger than the last – one even had an Olympic sized skating rink. I’m convinced everyone goes to the mall to escape the everday heat and humidity; I know I would if I lived there!
The Philippines: ‘One Big Mall’
The nation’s retail scene is expanding, even as tough times hit Asia
Published: December 18, 2008
Roger Pe
When SM City North Edsa’s expanded annex merged with the existing one, the world’s third biggest mall was born. The gates of the 425,000- square-meter behemoth officially opened last Friday, December 12, thus becoming the 4th Philippine mall in the World’s Top 12 list. Numbers 4, 7 and 11th are also located in the Philippines.
So what’s the big deal? A vote of confidence on the country’s economic prospects amidst continuing threats of global recession that aren’t going away; adding on to the tourist appeal; an eye-opener to those who have vague knowledge about the country’s countless investment possibilities and vibrant retail industry.
The event was carried globally by different news agencies on the same breath that Thailand and India were licking their wounds caused by recent tragedies.
Last weekend, horrendous bumper-to-bumper traffic scenes happened simultaneously around metro-Manila malls. Inside, people pushed and shoved, filling every nook and cranny as if there were no tomorrow. If these are indications that Manila still needs another mall of this humongous kind, it can perhaps build the planet’s biggest single-roof mall to pack all those mall rats in.
The world’s best-known brands are here. World-quality local produce comes in abundant fashion. “Manila, or the Philippines, for that matter, is just one big mall,” says a many-time European visitor who has several stakes in the mall business in the country. “From high-end to middle affluent to mass market, it’s just simply dizzying!” she said.
The Philippines has at least $36 billion in foreign exchange reserves, according to the Central Bank of the Philippines. This is almost four times higher than the level the country had when it faced the Asian financial crisis a decade ago. Proof of its strong fundamentals and ability to parry advances of recession.
Not a bad story to be telling in bad economic times.
I finally have time to catch up on my blog posts.
First up, Jeff and I were lucky enough to go see Iron Chef Masaharu Morimoto do a food demo during a Food Network festival. We weren’t able to actually eat any of his creations, but it all smelled fantastic and I imagine that everything tasted good. I’ve been to Morimoto’s in New York and I liked everything there so it all had to be good! He was surprisingly really funny, but at times it was hard to actually understand him. The funny thing was I don’t think most of the audience knew what he was saying, but we all just laughed along anyway.
Having dated a Canadian for over 8 years, you would think I would have gone to Canada many many times. Suprisingly, this year marks my first visit to our neighbor up North.
The trip began in Brooklyn where Jeff’s brother, mom, and aunt picked us up. Almost always being the smallest person in the car, I assumed my usual spot during a road trip, the hump, and rode for 10 hours alongside 4 other humans, 2 dogs, and a trunk full of cheese pimento. After crossing the border, we soon arrived at our destinaton, Markham, a suburb of Toronto.
Spending a week in Canada, we did a lot of eating – mainly Asian food (Thai, Korean, Chinese, and of course Filipino), shopping (although I didn’t actually buy anything; that 13% tax rate is crazy!), and we visited Niagra Falls.
Things I noticed about Canada:
- There are barely any fat people! I attribute this to Canada’s smaller food portions. Their large drinks are the size of our mediums and they don’t seem to “super size” anything.
- Tim Horton’s will eventually rule the world. They must put crack in their coffee cause they’re so damn tasty.
- There are a whole lot of Asians in Canada. However, it’s true what they say about Canada being a salad bowl as opposed to America’s melting pot. Everyone lives in their own distinct neighborhoods, not completely assimilating.
- Canadians love their malls.
- Canada, at least Toronto, isn’t really different from any other US city/suburb.
Now the best part, the pictures:
We really weren’t supposed to be taking pictures (as the security guard whispered to Lynette, “Turn off the flash and don’t let me see you doing it”), but who could resist not breaking the rules? Murakami on his last day in Brooklyn was pure perfection…
* picture courtesy of ESPN
Like all Filipinos, I was excited about Manny Pacquiao winning his fight last Saturday in Las Vegas. Aside from being one of the greatest boxers, he’s now proving that he may be a super hero too. Newspapers in the Philippines are saying that during his fights, there are absolutely no crimes in the Philippines; even the criminals are watching TV! And if you’ve ever been to Manila, you know a crimeless Manila, even for a few hours, truly is a wonder to behold!
When pressed for the reason behind several hours’ peace in Metro Manila yesterday, Barias said “the people, even criminals, stayed in their respective homes to watch the fight.” Pacquiao won by knockout in the ninth round.
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