Baguio City, Philippines – The economy of Baguio City has witnessed significant growth, largely attributed to the resurgence of the tourism sector. The city’s gross domestic product (GDP) saw an 11.3 percent increase in 2022, outpacing the previous year’s 10 percent expansion.
According to Philippines News Agency, chief statistical specialist of the Philippine Statistics Authority (PSA) in the Cordillera Administrative Region (CAR), the briefing on Monday revealed that Baguio City’s output last year not only grew substantially but also exceeded the 4 percent growth recorded in 2019. Bahit detailed that all industries in Baguio City expanded in 2022, with the most notable growth in transportation and storage at 63.6 percent, accommodation and food services at 50.6 percent, and other services at 47.1 percent. These other services encompass a variety of activities including performances, museum operations, sports, gambling, recreation, personal grooming, beauty parlor services, laundry, and funeral-related activities. Baguio City contributes 45.9 percent to the region’s annual output.
Meanwhile, the neighboring Benguet province experienced a slower growth rate of 5.1 percent in 2022, a decline from the previous year’s 6.1 percent. This slowdown was attributed to the impact of calamities and the lingering effects of the pandemic. Benguet’s contribution to the regional output stands at approximately 23.3 percent.
Imelda Buyuccan, chief statistical specialist of the Benguet provincial statistics office, identified the main drivers of the province’s GDP as the agriculture, forestry, and fishing sectors. Susana Padio, Benguet provincial planning and development officer, highlighted the challenges faced by the province due to frequent calamities. She noted that about 70 percent of the population is involved in farming and underscored the need for more support for the industry, which is consistently affected by calamities and climate change effects.
Despite these challenges, Padio remains optimistic about Benguet’s economic prospects, crediting government interventions such as technical support, marketing aid, and loans for the positive, albeit slow-paced, GDP growth.