Philippines resource-rich but income-poor: Inquirer contributor

People arrive at the Barangka Cemetery during All Saints' Day, in Marikina City, Metro Manila, Philippines, November 1, 2022. - Reuters

MANILA: The great paradox about the Philippines is that in spite of its being among the most naturally wealthy countries on earth, it has found itself in a worse economic situation than far less-endowed neighbours and comparable economies around the world.

Our abundance of natural wealth is widely recognized. Our 300,000 square kilometres of land and inland waters host an extremely rich and diverse array of plant and animal life. With more than 36,000 kilometres of coastline and abundant inland waters, we have an extremely rich array of marine and freshwater resources known to be among the richest and most diverse in the world.