Boracay propels Aklan’s 22.5% growth in 2022, PSA data show

BORACAY revelers may have boosted the economy of Aklan in 2022, which is the fastest-growing province nationwide, according to the Philippine Statistics Authority (PSA).

The latest data from the PSA showed Aklan posted a growth of 22.5 percent in 2022.

PSA data also showed that the top contributor to the growth was Transportation and Storage, which accounted for 13.4 percentage points (ppt) of the growth.

Transportation and Storage posted a growth of 148.9 percent in 2022, which brought the industry’s total output to P11.64 billion in 2022 is only P318.66 million lower than the pre-pandemic level of P11.959 billion in 2019.

“[This] includes trips to Boracay, among the performance of the sub industries of transportation and storage, air transportation po nag top,” PSA Macroeconomic Accounts Service Subnational Economic Accounts Division Head Elgie A. Gulane told the Businessmirror in an email on Monday.

The PSA said other top contributors to the growth of Aklan were wholesale and retail trade; repair of motor vehicles and motorcycle, which contributed 3.1 ppts; other services, 1.1 ppts; and accommodation and food service activities, one ppt.

In terms of growth, the wholesale and retail trade; repair of motor vehicles and motorcycle which grew 13.2 percent; other services, 60.6 percent; and accommodation and food service activities, 63 percent.

Meanwhile, PSA data also showed that Nueva Vizcaya, Davao Oriental, and Sorsogon, also posted high growth rates at 13.1 percent, 12.3 percent, and 12.2 percent in 2022, respectively.

“All the top 10 provinces in terms of annual growth rates also recorded growths faster than the national GDP growth rate of 7.6 percent,” PSA said in a statement.