#freelance economy

Payoneer and GCash released a survey report on the current state of the gig economy in the Philippines. Entitled The Philippines Freelance Market 2022 Report, the study shows that many Filipino are thriving as freelancers, benefitting from growing overseas freelancing opportunities. Sharing the key findings, the report revealed that freelancers who work with local and overseas clients earn 57% more per hour than those who work with just local clients. In Payoneer’s Global Gig Economy Index 2019, the Philippines landed in sixth place as the fastest-growing market in the world, with a 35% growth in freelance earnings. This accelerated the gig economy trend in the country and increased the ranks of Filipino freelancers in 2020-21. Despite the unpredictability of a steady income stream and job stability, Filipino freelancers continue to take advantage of the benefits of freelancing such as job flexibility, workload control, and greater earning potential from multiple income streams. While most freelancers still source their jobs in the Philippines, the survey suggests that more and more Filipino freelancers are in demand across countries including the United States, the United Kingdom, Hong Kong, South Korea, Taiwan, and the United Arab Emirates. GCash and Payoneer’s market report mentioned that, according to Creative Economy Council of the Philippines President Paolo Mercado, up to 1.5 million Filipinos are registered on international online platforms for freelancing services. Read more in our articles including "Payoneer, GCash partner to support freelancers" and "Instagram now lets users reorder their posts on their profile".