Iloilo City gains highest per capita GDP in W. Visayas

BY MARY JOY CAVAÑAS

ILOILO City – This southern city reached the highest per capita gross domestic product (GDP) in Western Visayas for 2022.

According to the Philippine Statistics Authority (PSA), each person in Iloilo City created a value-added through production of goods and services amounting to P306,000 for the whole year – higher than the region’s P118,000 per capita GDP.

Mayor Jerry Treñas is elated of the validation of the successful initiatives of the Ilonggos and dynamic partners working together towards continued progress.

“Our common efforts to attract investors and propel economic activities have paid off. The productive results will strengthen the city’s standing as a leading investment destination and sustain the momentum of continued development for the benefit of Ilonggos,” Treñas said.

Bacolod City, meanwhile, trailed behind with P214,000 per capita GDP.

Iloilo City contributed 15.2% share to the region’s P955-billion GDP while Bacolod’s share was 13.9%.

The city is mainly driven by services which include wholesale and retail trade; repair of motor vehicles and motorcycles; financial and insurance activities; education; professional and business; real estate and ownership of dwellings; transportation and storage; information and communication; human health and social work activities; public administration and defense, compulsory social activities; and accommodation and food.

PSA data also showed that the city’s total investments grew by 65% in 2022 while the gross sales of registered firms grew by 5.65%.

The number of new businesses grew by 26.71% and  4.62% in renewals, it added.

Moreover, tourist arrivals grew by 255% since the coronavirus pandemic.

Also notable was the rise in employment rate to 95.1% in 2022 from 89.4% in 2021, citing prioritization of Ilonggos’ livelihood and job opportunities./PN

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