The return of the in-person celebration of the world-renowned Dinagyang Festival this year is expected to boost the recovery of Iloilo City’s economy from the effects of the COVID-19 pandemic.
Mayor Jerry Treñas said Dinagyang creates more opportunities for businesses due to a big number of both local and foreign tourists visiting the city.
Dinagyang is one of the country’s biggest festivals, drawing hundreds of thousands of visitors every January.
Treñas is optimistic that the economy of the city will do better this year.
“I am hoping nga ini nga tuig 2023 will be better for all the businessmen and all the people of Iloilo,” the mayor said.
City Tourism and Development Office (CTDO) head Junel Ann Divinagracia also expressed the same optimism that Dinagyang will help the city recover faster.
“The festival has a huge impact in terms of economic recovery because it helps not just one aspect, but a lot, including transportation,” she said.
“It will be favorable to small vendors, the pasalubong industry, and those into producing locally-made products,” Divinagracia added.
Based on the latest data from Philippine Statistics Authority (PSA), Iloilo City, the regional capital of Western Visayas, posted an economic growth of 6.8 percent in 2021, higher compared to -12.8 percent in 2020.
The city’s Gross City Domestic Product (GCDP) as P132.4 billion in 2021, up P8.3 billion from P123.9 billion in 2020.IMT
Photo by Jezel Taparan
