 They are represented in all levels of Philippine society and are integrated politically and economically, in the private and government sector.Spanish Filipinos are present within several commerce and business sectors in the Philippines and a few sources estimate companies which comprise a significant portion of the Philippine economy are owned by Spanish Filipinos like International Container Terminal Services Inc., Manila Water, Integrated Micro-Electronics, Inc., Ayala Land, Ynchausti y Compañia, Ayala Corporation, Aboitiz & Company, Union Bank of the Philippines, ANSCOR, Bank of the Philippine Islands, Globe Telecom, Solaire Resort & Casino, to name but a few.The term Hispanic broadly refers to the people, nations, and cultures that have a historical link to Spain.