In 2024, 29 Filipino companies earned a spot on Time Magazine’s list of the 500 Best Companies in the Asia-Pacific, showcasing strong growth and resilience despite global challenges. These companies, representing a wide range of industries, were selected based on their revenue growth, employee satisfaction, and commitment to environmental, social, and governance (ESG) standards.
Ayala Corporation Leads the Charge
Ayala Corporation, the country’s oldest conglomerate, topped the list of Filipino firms at No. 46, marking its continued dominance across sectors like real estate, banking, and telecommunications. Ayala’s solid performance in 2024 reflects its long history of innovation and adaptability. It was followed by other major players, including San Miguel Corporation (85th), Security Bank Corporation (88th), and SM Investments Corporation (109th), reinforcing the strength of the Philippines' biggest business groups.
A Diverse Range of Industries Represented
The 29 companies on Time’s list illustrate the diversity of the Philippine economy. Banking giants such as BDO Unibank (112th), China Banking Corporation (238th), and Metropolitan Bank and Trust Company (311th) represent the thriving financial sector. Retail leaders like SM Prime Holdings (121st) and Jollibee Foods Corporation (116th) highlight the country’s competitive presence in the consumer market. Food and beverage companies also made a strong showing, with Del Monte Philippines (320th) and Universal Robina Corporation (329th) among the honorees. The inclusion of Cebu Pacific Air (178th) and Aboitiz Group (188th) showcases the strength of the transportation and energy sectors.
Thriving Amid Global Uncertainty
Despite the geopolitical uncertainties that affected global economies, the Philippine economy demonstrated resilience. The Philippine Stock Exchange closed 2024 with positive growth for the first time since 2019. Local companies such as Robinsons Retail Holdings (211th) and Petron Corporation (216th) exemplify how businesses in the Philippines have adapted and thrived in a challenging year.
