Skip to main content »
Igorotage

Baguio City: The Highest Growing Economy in the Cordillera in 2022

Baguio City emerges as Cordillera Administrative Region's economic leader, achieving an 11.3% growth rate in 2022.

 |  2 min read

Baguio City takes the lead in Cordillera's economic race with an 11.3% surge in 2022. Uncover the industries propelling this remarkable growth story. Photo: Janry Atienza

Baguio City's Strong Economic Growth in 2022

In 2022, Baguio City's economy surged by 11.3 percent, marking the highest growth among Cordillera provinces. According to the Provincial Product Accounts (PPA) by the Philippine Statistics Authority-Cordillera, the city's economic performance leaped from 10 percent in 2020 to an impressive 11.3 percent in 2022.

But that's not all - the Cordillera region itself emerges as the 2nd Fastest Growing Economy in the country for the same period. Join us on this journey as we dissect the sectors driving Baguio's economic surge and explore the broader regional context that positions Cordillera among the nation's economic leaders.

Steady Growth

Chief Statistical Specialist Aldrin Bahit, Jr. underscored this growth, with the gross value added escalating from P139.28 billion in 2021 to a robust P155.03 billion in 2022 (constant 2018 prices).

Sectors at Play

Driving this growth were three key sectors: services (72.9 percent), industry (26.6 percent), and agriculture, forestry, and fishing (AFF) (0.6 percent). Notably, all three witnessed growth in 2022.

Leading Industries

Breaking it down, all 16 industries experienced growth in 2022, with the top three related to tourism. Transportation and storage surged by an impressive 63.6 percent, accommodation and food services by 50.6 percent, and other services by 47.1 percent.

Travel Influence

Bahit attributed this remarkable performance to eased travel restrictions and the "revenge travel" trend, significantly impacting the growth of these industries.

Economic Drivers

In Baguio's economic landscape, manufacturing (21.3 percent), wholesale and retail trade (16.3 percent), and financial and insurance activities (14.3 percent) emerged as key players, collectively making up over half of the economic activities.

Per Capita Success

Baguio's per capita GDP reached P420,020, reflecting a commendable 10.05 percent increase from 2021, surpassing not only regional but also Cordillera's per capita GDP.

Regional Standout

Baguio's growth outpaced other Cordillera provinces, with Kalinga, Abra, and Mountain Province following suit. The city contributed 45.9 percent to Cordillera's total GDP.

PPA Impact

The PPA, introduced in 2021, provides a comprehensive, inflation-adjusted assessment of provincial economic performance, offering valuable support for local decision-making.

Conclusion: A Resilient Economic Beacon

In conclusion, Baguio City's economic success in 2022 stands as a beacon of resilience and adaptability. With key sectors propelling growth and positive indicators, Baguio not only shines regionally but also on a national scale. The city's steady growth sets a noteworthy benchmark for regional economic development, showcasing the strength and dynamism of its economic landscape.

Music is life


Sharing is caring, kailian!

We do hope you find something great in this story. If you find this helpful, please do share it with the people you care about.


Igorotage is a platform for people to share their thoughts and ideas. The views expressed on Igorotage are the opinions of the individual users, and do not necessarily reflect the views of Igorotage.

Comments

Sign in to share your thoughts. No account yet?

What to learn next?

You might also like to read more related articles filed under Statistics — or jump to a random article!

Statistics Surprise me

Tabuk City Earns Esteemed 2024 ASEAN Clean Tourist City Award

Tabuk City secures esteemed 2024 ASEAN Clean Tourist City Award, showcasing its commitment to environmental excellence and tourism standards.

Dec 25, 2023 · 2 min read

Panagbenga Sucks: Everything Wrong with the Baguio Flower Festival

Panagbenga sucks! Here are everything wrong with the Baguio Flower Festival from a local's perspective. A comprehensive analysis.

Sat at 11:20am · 12 min read

26 Fascinating Facts About the Panagbenga Flower Festival in Baguio City

Here are 26 interesting facts about the Panagbenga Flower Festival in Baguio City.

Feb 21 · 6 min read

Why 913,000 Cordillerans are Still Single

Discover the reason why 913,000 Cordillerans remain single. Explore the influence of Cordilleran women's higher education and wealth.

Feb 15 · 4 min read

Baguio City's Joemy Duldulao Honored as First Runner-Up in National BNS Search

Joemy Duldulao's dedication as a Barangay Nutrition Scholar in Baguio City earns her national recognition as first runner-up in the BNS Search.

Feb 15 · 2 min read

Tourist's Lost Cards and Cash in Benguet Met with Unbelievable Kindness

Discover how a tourist's lost cards and cash in Benguet led to heartwarming acts of kindness and community spirit.

Feb 6 · 4 min read

8 Reasons Why Jeepney Modernization in the Cordillera WON'T Work (Yet)

Here are 8 reasons why jeepney modernization faces a roadblock in the Cordillera region, along with actionable solutions.

Jan 30 · 20 min read

The 11th Sagada Etag Festival: Celebrating Unity and Tradition

Experience the culture of Sagada at the 11th Etag Festival, with cultural street dancing, culinary traditions, and community spirit on full display.

Jan 28 · 4 min read

SLU Grad Gets P150K Cash Bouquet on Graduation Day

Discover the heartwarming story of SLU graduate Roselyn Gunnawa, who receives a surprising P150K cash bouquet on her graduation day.

Jan 27 · 2 min read

National ID: 1.3 Million Residents Registered in the Cordillera Region

1.3 million Cordillera residents register for national ID in latest PhilSys update. Learn more here.

Jan 26 · 4 min read