THE country’s manning and seafaring industry remains a key stabilizer of the economy, contributing four percent of the country’s Gross Domestic Product (GDP), a study by the University of Asia and the Pacific and ALMA Maritime Group Association of Licensed Manning Agencies) showed.
The paper titled “The Overseas Seafarers’ Industry Profile, Structure, and Impact on the Philippine Economy” presented on Tuesday by professor of Strategic Management and Industrial Economics and president of the Center for Research and Communication in UA&P Dr. Winston Padojinog.
The research confirmed that f Filipino seafarers in the maritime industry produce a total of ₱1.06 trillion in economic contributions..
“So when a seafarer is hired and sends money home, and when shipowners spend money inside the Philippines before deployment, it is not just the family who benefits. The whole community does,” Padojinog said.
The research also revealed that every ₱1.00 sent home to the Philippines nearly triples in value within the economy.
He noted that in simple terms, every peso spent by shipowners and every peso remitted by a seafarer, the impact multiplies to almost three times in the Philippine economy.
“The industry is not just labor export. It is a national economic strategy,” he added.
Padojinog further called for urgent reforms to protect seafarers’ jobs and the remittances they contribute to the country, including measures to defend the Magna Carta for Filipino Seafarers.
In October 2024, President Marcos signed Republic Act No. 12021 or the Magna Carta for Filipino Seafarers to strengthen the rights and welfare of the country’s seamen both onshore and offshore.
In 2024, a total of ₱277.4 billion was recorded as direct remittances of Filipino seafarers.
The study was conducted to highlight the imperatives of protecting the seafaring industry, which safeguards jobs, supports families, and sustains a significant contribution to the Philippine economy.
It was commissioned by ALMA and conducted by the Center for Research and Communication Foundation, Inc. (CRC) with the support of MARINA (Maritime Industry Authority),the Department of Migrant Workers, and the Associated Marine Officers’ and Seamen’s Union of the Philippines.
