PH Among Fastest-growing Market in the World Reaching 1.5M Freelancers in 2022

The number of Filipinos working as full-time freelancers continues to grow as they take advantage of the opportunities overseas, according to The Philippines Freelance Market 2022 Report by Payoneer and GCash on Aug.23.

In 2019, the Philippines ranked sixth in the world as the fastest-growing freelance market, showing a 35% growth in earnings throughout the onset of the pandemic in 2020-2021.

At present, about 1.5 million Filipinos are providing freelancing services on different online platforms overseas, according to a report from the Manila Bulletin on Aug. 26. The survey revealed that freelancers working with both local and overseas clients gain an additional 57% in earnings per hour compared to those serving local clients alone.

The recent report surveyed 5,560 GCash users nationwide and found that the majority or 55% of freelancers in the country are between the ages of 21 to 35 years old, followed by those aged 36-45 years old at 28%. Sixty-nine percent of freelancers run their own businesses while juggling multiple side gigs and 18% offer a variety of services to several clients.

Despite flexibility and control over one’s time, freelancing also has its drawbacks. The survey showed that freelancers are still concerned about the lack of employee benefits, inconsistent income, and feelings of isolation