Baguio City’s economy is on an upward trajectory, largely fueled by its robust tourism industry, according to Peter Ng, the head of the Baguio Filipino-Chinese Chamber of Commerce. Speaking at a media fellowship during the Chinese New Year celebrations on January 22, 2025, Ng expressed his confidence in the city’s economic future, attributing it to the flourishing tourism sector.
Ng, who has been involved in the tourism business for several decades, emphasized the sector’s role in creating direct employment and fostering partnerships that enhance business growth. He is optimistic about Baguio’s complete recovery from the economic downturn caused by the pandemic, stating, “Baguio will continue to prosper.”
Recent data from the Philippine Statistics Authority (PSA) supports Ng’s optimism, showing a nine percent increase in Baguio’s output in 2023, the highest in the Cordillera region. This growth was primarily driven by the services sector, which saw a 73.7 percent increase and contributed 7.5 percentage points to the city’s overall output. The industry sector also played a role, adding 1.5 percentage points.
The Hotel and Restaurant Association of Baguio (HRAB) reported a strong start to 2025, with an 85 percent occupancy rate in the first week of the year, further highlighting the strength of the tourism industry. Ng noted that the sector’s growth is also benefiting other areas of the economy, such as agriculture. His family’s hotel, which employs over 150 full-time staff, requires 1,000 eggs daily, contributing to the local economy.