By: Andrei Vielle Castillo, Chuking Pandia, and Donna Stephanie Claire Agcambot/UM Interns
DAVAO Region’s economy grew 8.1% in 2022, fueled by accommodation and food services, transportation and storage, and mining and quarrying subsectors.
The figure was a vast improvement from the Gross Regional Domestic Product in 2021, which was 5.9%.
Southern Mindanao was recognized as the third fastest-growing economy among the 17 regions in the country.
Accommodation, which accounts for the short stay for travelers or the longer stay for students and laborers, and food services (meals and beverages for immediate consumption) were the top thriving industries after posting a 35.6% growth from 10.8% in 2021.
For transportation and storage, the percentage went up from 2.3% in 2021 to 28.7% in 2022.
Of all the sectors, only electricity, steam, water, and waste management posted negative growth after a positive output in 2021.
“We need to recognize that the tourism industry for Davao Region is really the driver of growth. For example, we have noted that for Davao Region in 2022, there are 2.2 million regional travelers, and this is an increase of 65% coming from 2021,” Philippine Statistics Authority assistant national statistician Vivian R. Ilarina said.
Meanwhile, the mining and quarrying industry continues to ride high on its momentum after growing to 27.6% last year from 22% in 2021.
“Yung mining industry, nag increase siya in 2022, I think due to higher sales of various minerals… Gold increased by 22.6%, silver, these are all metallic, so by 5.6% (The mining industry increased in 2022, I think due to higher sales of various minerals),” Ilarina.
The 2022 regional economy exceeded the pre-pandemic level by 53.2 billion pesos in 2019.
