Modern Incomes Sources Philippines: At the speed that the Philippines is developing, there’s no surprise that investors and entrepreneurs are diversifying their income sources. There are surprising ways to make extra money in the Philippines in the modern world. Today we will be looking at modern income sources in the Philippines for some extra pesos.
Additionally, you may also be wondering what the most common income sources for the Philippines are. Therefore we will also be exploring seven common types of income in the Philippines.
Modern Incomes Sources In The Philippines
1. Nonfungible Tokens – NFTs
Whether you love or hate nonfungible tokens, it cannot be denied that the topic of NFTs has been getting a lot of interest in recent times. Alongside this extra attention, prices for nonfungible tokens have skyrocketed for certain projects, and in recent times, a nonfungible token was sold for $100 million!
Previously we spoke about making money from nonfungible tokens and how this is a great modern income source for the Philippines. However, like all types of investments, there are risks and opportunities. Unfortunately, even though this is a modern investment for the Philippines, it is also a high risk as the market for products is new, and scams are common with NFT projects.
When the average person thinks about nonfungible tokens, they think about NFT art. These are essentially digital photos or small clips that have been minted on the blockchain. But nonfungible tokens are very common in other industries. In the Philippines, NFT gaming has become increasingly popular; you can now play several types of games to earn nonfungible tokens.
2. Cryptocurrency Passive Income
There are several different income sources in the Philippines, but what is passive income, and why is this important while talking about cryptocurrency? Passive income in the Philippines is a way to earn additional income without doing additional work….
Some investments are semi-passive, meaning they require some maintenance, while others are active, which requires maintenance and effort. For example, an active investment could be a blog or YouTube channel. These mediums allow you to earn an income, but you will need to work on your business activities consistently and grow.
Cryptocurrency has evolved to become a unique modern investment in the Philippines. Additionally, it is a current income source for many Filipino entrepreneurs. But how can you earn passively from cryptocurrency? Fortunately, we released a full guide on how you can earn Bitcoin for free and earn passive income on cryptocurrency, which I’ve attached above for your reference.
Nevertheless, there are several ways cryptocurrency has become a modern investment in the Philippines. Offering liquidity, staking your cryptocurrency, and lending your cryptocurrency to other investors are a few common ways to earn monthly income from cryptocurrency.
Similar to nonfungible tokens, cryptocurrency also possesses a lot of high risks. Every day several new projects are being released. Unfortunately, some of these are rug pulls (cryptocurrency scams). So doing your own research (DYOR) is always essential when investing in high-risk investments or starting a new modern income source in the Philippines.
3. Metaverse Income Sources
At this moment in time, the metaverse is another popular topic. Facebook changed its corporate name to Meta, but the metaverse has existed long before Facebook’s name change. So how can you earn money from metaverse in the Philippines? There are several ways to earn income from the metaverse.
The most common way to indirectly invest in the metaverse is to invest in companies in the metaverse industry. Unfortunately, we are limited in metaverse stock here in the Philippines, requiring investors to branch out to foreign markets. Two rising countries to find metaverse stock include the United States and Japan.
However, another modern income source for the Philippines includes creating software, graphic design, or any other task for the games within the metaverse. This is often a type of employment income, but it is a great way to set foot in the industry if you are a beginner.
Another option is through metaverse cryptocurrency. When you start to invest in modern income sources in the Philippines, you may see that many modern investments such as the metaverse, cryptocurrency, and nonfungible tokens have a working relationship. This brings exciting opportunities for futuristic investments in the Philippines.
4. Flipping Online Real Estate
Technically flipping online real estate is part of the metaverse and is another way to earn money from this industry. However, flipping online real estate has become a popular investment globally and deserves its spot on our list.
The Sandbox and Decentraland are two common platforms where investors can buy digital real estate. These digital real estates take the form of a nonfungible token; however, online real estate can also be a way to earn passive income through advertisement. Depending on the future of the online real estate and digital assets, this may or may not be an excellent decision from investors.
5. Selling Blogs & Websites
There are many ways Filipinos can earn online income in the Philippines; one common modern income source in the Philippines includes buying and selling websites. This has many advantages not only for the business owner but also for the purchaser.
Some entrepreneurs create websites from scratch and instantly sell this on platforms such as Flippa. Other developers create systems such as eCommerce stores or subscription businesses and then later flip these for profit.
So how much is a website worth in the Philippines? Key elements such as the domain name, keyword rankings, authority score, and website age all impact the cost of a website. However, as an estimate, Finding your monthly website profit and times this by 24 will give you an approximate value of your website.
The benefit for the buyers is that they can purchase a website that is not brand new, which can be a good advantage for organic traffic. This is why you may see some websites being sold for a lot more than expected.
Additionally, there are several other modern income sources in the Philippines on this topic. These modern investments and business opportunities include buying and selling apps, social media channels, and domain names.
6. Earn Extra Income Sources From Real Estate
One of the most current income sources for the Philippines includes earning extra income from real estate. The fantastic benefit of real estate is that several different real estate types can be invested in.
Traditionally, investors looking for extra income in the Philippines invest in condominium projects. As there are so many condominiums, the buying process has become streamlined and convenient. But some investors have expanded their portfolio and decided to look into other modern investments in the Philippines on real estate.
Commercial real estate is one of these areas. Commercial real estate can include factories and warehouses for new businesses or even offices for a brand new call center. So naturally, the location and the type of property are extremely important, and this is a modern income source that needs to be fully researched.
Additionally, other sources of income from real estate in the Philippines include holding, reselling in the future, and renting. Land and car parking spaces are also interesting for real estate investors as these can be valuable in the right location.
7. Invest In Affiliate Marketing
If you are looking for extra money online in the Philippines, one of the best ways is to affiliate market. But what is affiliate marketing in the Philippines, and why is this a modern income source for many Filipinos?
Affiliate marketing fundamentally means that you will receive a commission for selling other people’s products or services. Some companies will pay per click, per download, or as mentioned per sell. Word of mouth in the Philippines is extremely important, and with more and more people shopping online, it’s no surprise the affiliate marketing world has heated up in recent years.
The great thing about earning extra income from affiliate marketing is that you don’t always need a website. For example, many entrepreneurs earn affiliate marketing income in the Philippines by promoting links on their YouTube channel or TikTok.
When becoming an affiliate marketer in the Philippines, the most important thing is to provide your audience with relevant and trustworthy products. Some entrepreneurs can create a system for affiliate marketing to increase their income sources in the Philippines.
8. Investing In Commodities Such As Oil, Wool, And Platinum
When I first started researching commodities and the markets many years ago, I was surprised by how many tradeable commodities are in the world. Common commodities tend to be gold and silver, but many more commodities can be invested in, including oils, sugars, and metals.
One of the easiest and most convenient ways to invest in commodities in the Philippines is to use a third-party platform that bridges the gap between the investor and the investment. One commonly used platform is Etoro.
However, one disadvantage is that the commodities do not possess monthly returns. This means if you are looking for modern income sources that provide daily, weekly or monthly income, commodities may not be your best option.
However, commodities can be volatile, especially after government announcements and regulations. Therefore, if your investment strategy is to buy, hold and sell, this may be a great extra income source in the Philippines.
9. Modern Income Sources From Angel Investing
A fantastic option for those looking to increase their income sources in the Philippines is to investigate the topic of Angel investing. What is Angel investing, and how can you earn money from this modern income source?
Angel investing is a great modern income source in the Philippines and involves investing in a new or growing business. The great thing about Angel investing is that Filipinos can invest in business opportunities worldwide due to Angel investment networks. Some businesses can be invested in for as little as 10,000 Pesos.
Like other modern income sources in the Philippines, Angel investments carry risk. Most businesses that seek Angel investors are small and medium-sized businesses. Thus researching the business, product and industry are extremely important before investing as an Angel investor. Modern Incomes Sources Philippines.
What Are The 7 Common Sources Of Income Philippines
Earned income in the Philippines is an income source that is typically from a job and is the most common type of income source globally.
Business income in the Philippines is an income source that your business generates from selling products, services, or assets.
Interest income is income that you earn from an investment. For example, investors who invest in peer-to-peer lending can earn interest on their investments.
Dividends / Bonus Payment Income
Dividends are commonly applied to stocks. These are bonus payments from the company to its shareholders.
Rental income in the Philippines is an income that you can earn from renting out an asset. This type of income is commonly earned through real estate such as condominiums.
Capital Gains Income
Capital gains income is the increase of the value of an asset (appreciation). For example, if you purchase a house and it increases in value by 30% in 10 years, this is a form of capital gain.
Royalty income is an income to a creator of a product or property. This is a way owners can earn income by letting others use their property (book, music, etc.).
What Is The Main Income Of The Philippines
According to the food and agricultural organization of the united nations, the main income source for the Philippines is earned income (income from an employer). Furthermore, they state that 25 to 30% of the labor force is involved in agriculture.
Unfortunately, the data is limited; the article mentioned above has not been updated for several years. Thus it does not consider the recent developments in technology and booming industries the Philippines has experienced over the last several years.
Some sources indicate that the Philippines’ most popular and common jobs include office workers (call center staff, bookkeeping, accounting, sales, etc.).
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