The World Bank is projecting the Philippines to be close to the upper middle-income threshold, based on current gross national income (GNI) per capita trends.
Data released by the World Bank last year showed that the Philippines remained a lower middle-income country, with its GNI per capita reaching $4,470 in 2024.
The WB classifies economies with a GNI per capita calculated using the Atlas method of $1,136 to $4,495 in 2024 as a lower middle-income country. Those classified as upper middle-income countries have a GNI per capita of between $4,496 and $13,935, and high income economies are those with a GNI per capita of over $13,935.
GNI per capita measures the economic output per citizen, encompassing both domestic and international earnings. A higher number shows greater economic prosperity and a higher standard of living.
The Philippines has been part of the lower middle-income economy grouping since 1987, and based on the numbers, is currently at the verge of breaking through to the next bracket.
The World Bank said that its list of new income classification and thresholds will be updated on July 1.
It would be a significant achievement for the Philippines to break into the upper middle-income category, which would mean that gross national income and economic output per citizen has somehow continuously improved over the years.
If our government can somehow pull it off, despite the current global crisis caused by the war in the Middle East, that would be something that Filipinos can certainly be proud of, and hopefully it even translates to greater economic prosperity and higher standard of living for all.*
