The Philippines have taken the first place spot in the quarterly Antal Global Snapshot survey, miles ahead of the rest of the world with its soaring hiring rates.

The survey, which carried out research in 12,875 companies in 47 countries, reveals that Asia-Pacific has overtaken the Americas this quarter, taking the lead in the highest level of hiring activity with 64% of businesses in the region currently hiring managerial and professional staff.

But it is the hiring boom in the Philippines that has pulled Asia-Pacific to the top: 98% of companies there are currently hiring, and this is coupled with one of the lowest firing rates worldwide (3%).

“This is due in part to the elections back in May 2010, which has consequently boosted confidence in the economy and, in turn, hiring,” said Tony Goodwin, chief executive of Antal International.

He added that with a 6% inflation rate, China is no longer the cheapest manufacturing destination and as a result, many companies have turned to the Philippines as one of several cheaper alternatives for low-cost manufacturing.

This explosion in hiring looks set to continue into the next quarter, with 96% of businesses in the Philippines planning to hire new employees and only 4% looking to fire (see below).