Manila metropolitan area, also known as Metro Manila, is the national capital region (NCR) of Philippines. The metropolitan area contributed 30.4% of the country’s total GDP in 2023. Metro Manila's real GDP growth moderated in 2023. This slowdown indicated the diminishing momentum of post-pandemic recovery. However, growth remained robust, driven by public investment, private spending, low unemployment, increased remittances, and a strong service sector, including tourism
Scope
- The service sector mainly drives the economic growth of Manila metropolitan area, accounting for 80.4% of the total GVA in 2023
- In 2023, Philippines international tourism revenue exceeded pre-pandemic levels. The Department of Tourism (DOT) supported this momentum by lifting remaining health protocols for tourism establishments. With rising international flights and tourist arrivals, the sector is nearing pre-pandemic levels and is expected to fully recover by the end of 2024
Reasons to Buy
- Gain a comprehensive knowledge of future economic and demographic trends and understand the performance of various sectors within the city.
- Analyze and understand the business environment in the city to align your investment and expansion strategies.
- The report helps to drive a conclusion in choosing a suitable city to invest or expand according to your business structure.
- Explore new opportunities in the hospitality, tourism, construction, real estate and retail sectors.