The Philippines underwent a transformative economic shift in the late 19th century, spurred by its emergence as a significant source of raw materials like sugar, tobacco, coffee, and agricultural products, coupled with its role as a burgeoning market for European manufactured goods. This economic boom fueled the rise of local wealth, propelling many Filipinos into a prosperous, upper-middle-class lifestyle. Central to this transformation were key events such as the opening of the Suez Canal and the liberalization of Philippine ports in Manila, Cebu, and Iloilo to international trade in 1834, following the decline of the Manila-Acapulco Galleon Trade post-Mexican independence.

The impact of these changes extended beyond the elite, benefiting everyday Filipinos through increased labor demand and newfound business opportunities. The influx of European investors seeking commercial ventures further catalyzed economic growth and their integration into 19th-century Filipino society and politics. This newfound prosperity enabled Filipinos to send their children to prestigious European universities, exposing them to revolutionary ideals from the French and American Revolutions. This exposure nurtured a burgeoning sense of Filipino nationalism, eventually culminating in calls for independence from Spanish colonial rule, which gained momentum in 1896, marking a pivotal juncture in the country's quest for self-determination.