The Philippines is one of the wealthiest countries in South East Asia, with a pretty extensive rich list when compared to other countries. It's Call Centre outsourcing industry is growing by the day, primarily to the US but also the likes of HSBC in the UK and Virgin Mobile. The country just needs some good leadership to take it forward, the previous president has held the country back.
One thing that should have happened is that Terminal 3 should have become the major terminal in Manila, and the LRT 1 line should have been extended straight into it. It would make an unbelievable difference.