Though not frequently talked about, and not speculated upon by many – the Philippines is indeed the home of some of the wealthiest Asians in the world. According to Manila Bulletin one of the leading newspapers in the Philippines- there has been a steady rise in the number of Filipinos who are entering the middle-class bracket in 2018- what more for the Ultra rich Filipinos?
A Brief History of Classes
In the mid-18th Century around the 1750s, there were 5 principal social classes in the Philippines. This
Most of the people in the Peninsulares were Spanish friars, who were born in Spain, or the Iberian peninsula, and they were the wealthiest and most powerful in the land, the Insulares on the other hand were the Spaniards who are already born in the Philippines. While the clase media consisted of three classes, the Spanish mestizos, or mestizos de Espanol, the principalia, and the Chinese Mestizos or mestizos de Sangley- during this era the Chinese and the indio or natives comprised of the lower half of the social pyramid.
Over the years much has changed, the technology and information dissemination has changed- along with the aid of the newly rich and powerful who built their empire from scratch- today we hear about self made billionaires who became enormously rich just because of online dealings and tech gadgets recently invented- though not widely written, known or discussed- there still exists the Modern Peninsulares- the 1%, the people who are not frequently talked about but exist in the Philippines- and they are the ones dictating the trends- and the way of thinking of the country-
Today while they only comprise the 2% like the Spanish Mestizos during 300 years ago, the Ultra Rich Filipinos are able to have control and influence over commerce and industry- and are able to have a great share of wealth due to tested and tried methods over the years- In the year 2019 there are more Ultra Rich Filipinos or super wealthy Filipinos that already comprise what we now call as the Chinese mestizos- the rise of the Chinese Filipino aristocrat has become more common- and they work seamlessly to build the strong Philippine economy that we see now.
The Ultra Rich Pinoys have more money to burn more than ever- as information, technology and heightened awareness increased in the Philippines so is their wealth- this has led to a new type of economy called the ” experience economy”
With more money to burn than ever, the wealthiest want everything right now. Welcome to the “experience economy.” Nowadays convenience has levelled up the Filipino ultra rich can now available of Luxury Concierge services.
Mobile apps can now offer advance dinner reservations find a taxi, a dog walker, it can find an errand service personnel, butler, or any imaginable service a person can think of. The rise of luxury services in Metro Manila and other parts of the Philippines is growing as new services are now introduced to cater to the needs of the Filipino Ultra Rich.
Nowadays, top executives and CEO’s can enjoy immense services and experiences that only
There is now an array of mobile services and e-commerce platforms that built around the concept of serving the wealthy- and not just any kind of wealthy but the super wealthy- Modern company gifts, corporate giveaways for co-workers, employers and brand partners are also included- today if you want to give an elaborate and opulent gift to your business partner say for example a chocolate tower or wine gift basket filled with everything expensive and nice that money can buy- you can do so right away- the Alta way-
In 2017, according to Bloomberg, personal wealth worldwide reached a record of $201.9 trillion creating more millionaires and billionaires all over the world. This has led to the creation of various luxury concierge companies including in Manila. Luxury concierges offer very personal experiences for the ultra rich. From meeting simple requests like a last-minute helicopter ride or hiring lifestyle managers that are ready to give private tours any time of the day. All of these conveniently available through phone bookings- today if you are super rich or Alta Rich (
Luxury Concierge services and mobile apps for the Ultra Rich Filipinos can offer unique experiences- the best of the best that only the 1 percenter can achieve. All the extraordinary experiences-decadent experiences are fulfilled- the services are not expensive for nothing it means the experience is once in a lifetime, you are buying a special moment in time- Millenial millionaires are also driving the trends as they continue to seek more moments rather than things- today it is all about showcasing experiences on Instagram or Facebook-
The Luxury Concierge for Filipinos is still concentrated on a few groups who are able to handle the demands- but Filipinos will always be creative and open to new ideas- so will the mobile apps and services for the