Philippines further slips in 2023 Global Startup Ecosystem Index

The Philippines inched down two places to rank 59th out of 100 countries in the 2023 edition of the Global Startup Ecosystem Index by research center StartupBlink. The index, which also includes separate rankings of 1,000 cities across the globe, assesses startup ecosystems across 100 countries based on quantity and quality of startups as well as business environment. With a total score of 2.469, the Philippines remained the seventh-lowest score among its peers in the Asia-Pacific region. Meanwhile, at the city level, it retained five locations in the rankings with the country’s capital, Manila, ranking 95th out of 1,000 cities worldwide.