MANILA, Philippines?The local franchising industry expects sales to grow between 20 and 30 percent this year to as much as P157 billion, driven by rosy economic prospects and high consumer confidence.

Samie Lim, chair emeritus of industry group Philippine Franchise Association (PFA), said last quarter?s 7.3-percent gross domestic product growth bode well for the franchising industry for the rest of the year.

The 7-percent rise in remittances to $4.3 billion, which would fuel domestic consumption, was likewise a positive development for franchisers.

Considering these circumstances, he said the group?s growth projection of 20-30 percent could even be ?conservative.?

PFA president Yvette Pardo-Orbeta said the remittances that overseas Filipino workers sent to their families here could very well be channeled to franchised businesses.

This would not only expand the current base of the franchising industry, but also encourage entrepreneurship and generate more employment, she added.

?This development will not only further boost consumption, but also prop up the confidence of the business sector to all the more embark on productive enterprise, particularly in the consumer-driven franchising industry,? said Robert Trota, PFA chair and Max?s Restaurant president.