I recently traveled the Philippines and I can tell you that there are some there. One of the main issues for a hostel to open (from my understanding) is regulatory environment plus cost of land in popular areas. Ownership rules a ornery as well (ex. no business can be foreigner owned, must be 51% Filipino owned and forming corporations putting you as the owner can be dicey, at best). This is something you should research more. I don't want to dissuade you, just saying that you want to do all your due diligence.