TUGUEGARAO CITY, Cagayan -- The developments in the tourism industry, entrepreneurs, and digital connectivity have contributed much to the economic growth of the Cagayan Valley Region, the National Economic and Development Authority (NEDA) said. 

Assistant Regional Director Ferdinand Tumaliuan said the region’s diverse landscape and rich culture make the tourism industry a key driving force of the region’s economy, including the improving physical and digital connectivity, and the growing micro, small, and medium enterprises. 

Tumaliaun's statement affirmed the results of the 2023 Economic Performance Report of the Philippine Statistics Authority Region 2 that the Cagayan Valley’s economy grew by 6.2 percent, wherein the services sector posted the highest growth rate contributing P199.8 billion to the gross regional domestic product, followed by the industry sector with P127.4 billion, and the agriculture, forestry, and fishery sector with P119.9 billion.

“Our region's economic performance is anchored on the region’s vision for an economy driven by agro-industries, manufacturing, and information technology-based industries. This hinges on a dynamic ecosystem that will be made accessible to the micro, small, and medium enterprises to drive industrialization forward,” Tumaliuan said. 

Aside from this, he also noted the contribution of the agriculture sector to the region's economy, which is attributed to the adoption of technologies by farmers and the pursuit of initiatives on the value chain and agribusiness, as well as the increased investments in infrastructure and climate-smart farming technologies. 

Girme Bayucan, regional director of PSA Region 2, said the positive economic performance of Cagayan Valley in the latest study proves that the region has already recovered from the effects of the COVID-19 pandemic.

He said the small businesses that were severely affected during the pandemic have reopened and new economic activities were also unleashed. 

“For the agriculture sector, which grew faster from 0.5 percent in 2022 to 2.2 percent in 2023, efforts were geared towards enhancing the efficiency of production, expanding access to markets, and improving the sector's resilience to natural disasters,” he said. 

Left: The white water rafting in Quirino and (right) the local food products in Nueva Vizcaya are considered contributors to the economic growth of the Cagayan Valley Region. (Photo courtesy of DOT Region 2) 

Marjon Taguiam, a former Overseas Filipino Worker forced to go home during the pandemic, is now a food delivery rider, one of the service activities that emerged during the pandemic. 

“I chose to stay and serve as a delivery rider rather than leaving my family for abroad. Anyway, the food industry is booming so our job will be sustained,” he said. 

Myra Caraan, an accredited tour guide operator in Cagayan, also thanked the government for reopening and further boosting the tourism industry in the province. 

She said the tour guiding service activity is a promising livelihood to individuals like her who were then jobless. (OTB/PIA Region 2)