American national Kenneth choked, his eyes tearing up, as he quietly watched on a giant television screen as thousands of supporters of Barack Obama broke into cheers amid news he was elected the United States' next president.

"It's amazing" was all Kenneth could say as he joined hundreds of people at an election watch at the lobby of a posh shopping mall in Manila set up by the US Embassy to monitor the presidential race.

Cheers broke out as the news anchor said the 47-year-old Democratic party candidate was projected to win the presidential race by a big margin over his Republican rival and fellow senator, John McCain.

John Forbes, a senior official of the American Chamber of Commerce in the Philippines, said the Obama presidency would be a great opportunity for the United States to regain its lost prestige in the world and to revitalize the US economy.

"I think it's very exciting," he said. "He's young, he's energetic, he seeks advice and listens before he decides. I'm very optimistic."

Forbes noted that Obama, the first African-American president of the United States, represents the new face of America.

"He does not have the traditional American story," he said. "He represents the new face of America, being from the minority. He is a historic president."

Michael Pitlock, a private energy contractor working in the Philippines for the past seven years, said Obama could boost the image of the United States around the world.

"The image and perception of America around the world will improve under the leadership of President Obama," he said. "Under the present administration, the image of America went down the drain."

Filipinos, who have a long love-hate affair with their former American colonial masters, were also excited about the prospects of the Obama presidency.

Industrialist Jaime Zobel de Ayala said Obama is exactly the person the United States needs to lead the country out of the rut it has found itself in.

"I think the world needs a sparkling leader that can inspire people to do things that may not be pleasant but needs to be done," he said. "It's a complicated world, you need the energy of young leaders like Obama to deal with a complicated world."

Ayala noted the meteoric rise of Obama to the highest position in the US government by defeating powerful leaders like Senator Hillary Clinton and then McCain.

"There must be something about him that attracts the world," he said. "He takes the two worlds of America, the world of the majority and the world of the minority, together."

US Ambassador Kristie Kenney said she was "thrilled" with the victory.

"It's a great moment for America," she said.

The government of President Gloria Macapagal, who has shown unwavering loyalty to US President George W Bush, sent its "profound congratulations to president-elect Barack Obama."

"His call for change opened a new phase in American politics, sparking hope and inspiration not only to the American people but to the citizens of the world," a government statement said.