Opportunities may abound for Filipino online entrepreneurs as The Philippines ranked first in the world, out of 40 countries, for social media usage according to a report by London consultancy firm We Are Social.
According to an article by Inquirer.net, the firm’s Digital 2018 report said 67 million Facebook accounts are owned by Filipinos which match “the total number of Internet users in the country”, while Facebook-owned Instagram has 10 million accounts from the Philippines.
Filipinos were found to be spending an average of 3 hours and 57 minutes a day on social media websites.
The report was formed by collating data from third party sources, the article also said.
It was also pointed out that on the Internet, covering other types of websites, Filipinos spend 9 hours and 29 minutes a day on average, second to Thailand’s 9 hours and 38 minutes.
The reason for this high rank, according to Inquirer.net, is the country’s internet speed being slower than its regional neighbors.
Citing November 2017 Ookla data, the report said that the country’s fixed-internet speed, on average, is at 15.2 Mbps, below the 40.7 mbps global average. Mobile internet speed, on the other hand, is at 13.5 Mbps, falling short of the 21.3 Mbps global average.
Reported in Inquirer.net, it was also mentioned that YouTube video streaming, and news sites accessing also account for Filipinos’ time on the Internet, aside from social media sites.
As for e-commerce, the report said that Filipinos spent around $2.16 billion on online shopping, as of the latter part of 2017.
Currently, Internet penetration is at 63 percent out of 105.7 million Filipinos, the Inquirer.net article said.
Story first appeared here.