November 23, 2008

Wall Street of the Philippines

Ayala Avenue is the main artery that runs through the Makati Central Business District. There used to be a time when almost all major corporations, local and global, had their headquarters here. Because of the traffic congestion and better tax breaks in other Metro Manila cities however, quite a few companies have moved their headquarters though still keeping a presence in this very important financial district.

Ayala Avenue

14 comments:

Abraham Lincoln said...

Hilda,

I just wonder how your economy is going since what we have left is a bit tattered over here and until Bush gets back to Texas, for good, things are not looking that great. You know all about it but I see these beautiful buildings and realize it could just be a city in American. So I wondered if you guys are worried about the world's financial meltdown or don't you see the global crisis as a global thing like Global Warming is a global thing?

You take some very nice photographs.

JM said...

Very cosmopolitan look!

Webradio said...

High buildings ! How may meters ???

MumbaiiteAnu said...

Looks and sounds like Nariman Point in Mumbai.
Great shot.

Jackie said...

It still looks very busy, if the traffic is anything to go by! Great shot - very cosmopolitan, as JM says.

lunarossa said...

It's true, looks a bit like SF Financial District...Very imposing. Have a nice week. Ciao. Antonella

the donG said...

one of the beautiful avenue of the philippines. i remember posting it way back. nice shot from the car.

Frankie / Nick said...

Appears to be no doubt but that it's a very busy place indeed. For some reason was very surprised at the size of the huge buildings. I second the thought that it's a great photo taken from a vehicle.

Per Stromsjo said...

What about congestion taxes? Would I have to pay to be driving there?

Stockholm recently introduced congestion taxes after a major political storm. It doesn't solve everything but it does reduce the amount of traffic.

angela said...

It does look very cosmopolitan with the tall buildings and traffic in the streets. It must cause a lot of pollution.

Hilda said...

Abe:
It's weird, but we've actually weathered the financial crisis pretty well so far. I have no idea why. But our experts say we'll begin feeling the crunch come January 2009.

Web Radio:
The tallest building on Ayala Avenue is the PBCom Tower, which is also the Philippines' tallest skyscraper. It's 259 meters high.

Per:
I've never even heard of congestion taxes. Metro Manila's traffic is horrendous — there are just too many cars on the road. Taxes on new cars are low compared to other countries and so are interest rates for car loans. There's also no penalty for those who buy gas guzzlers or those whose vehicles are very old and therefore are more polluting. Higher taxes and registration fees based on engine displacement and age would help ease traffic congestion, lessen pollution and add to the government's budget. But that means antagonizing both the rich and the lower middle classes and our politicians just do not have the political will for it.

tr3nta said...

Very nice street shot... I like it.

Afyonkarahisar said...

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Rodney Dolorin said...

Nice Photo! I love driving shots.

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