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New report shows Airbnb contribution to the Philippines economy and jobs since post pandemic travel reshuffle

New research from Oxford Economics found Airbnb is an important pillar of the Philippines’s tourism industry, with its activities contributing USD$840 million (45.7 million pesos) to Gross Domestic Product and supporting almost 103,800 jobs in the Philippines in 2022* alone.  

The report, commissioned by Airbnb, found the platform played a crucial role in the Philippines tourism industry’s contribution to GDP and employment. 

The report also highlighted the powerful multiplier effect Airbnb guest spending has within local communities. In 2022*, Airbnb guests spent a total of USD$876 million (47.7 million pesos) in the Philippines in areas like purchases in restaurants, retail stores, and on transportation.

It details the contribution made by Airbnb guests to domestic tourism across the nation. In 2022*, domestic Airbnb guest spending totalled USD$445 million (24.2 million pesos). 

The report also explores two profound changes in travel behaviour since the pandemic: the dispersal of tourism away from urban areas, and long-term stays driven by the emergence of flexible work arrangements.

James Lambert, Director for Economic Consulting in Asia for Oxford Economics said, Airbnb has clearly played a major role in the resilience and rebirth of the Philippines travel and tourism sector in the wake of the Covid-19 pandemic.

“Airbnb has been at the heart of some of the trends reshaping the nation’s travel and tourism industry, including the shift in travel away from cities and towards more rural communities, and the increase in demand for long-stay trips, exemplified by the live and work anywhere phenomenon", Lambert said.

Amanpreet Singh Bajaj, Airbnb’s General Manager for Southeast Asia, India, Hong Kong and Taiwan said, “The economic contribution to both GDP and jobs driven by travel on Airbnb in the Philippines has created powerful economic ripple effects that have enabled the growth of local businesses, such as shops, restaurants, bars, and cafes — which are often central to how travellers experience a destination — and created job opportunities for the locals.” 

“The growth of the long-term stays segment since 2020 — enabled by flexible work policies and supported by Airbnb’s Live and Work Anywhere program — is helping destinations attract guests who stay longer and spend more per trip.

“Travel is now more dispersed, and so the economic benefits are being shared across more destinations, enabling a valuable economic contribution to rural and regional areas. This dispersal is being driven by Hosts on Airbnb and in turn creating economic opportunities for various communities. 

“As destinations across the Philippines continue to recover, we are committed to partnering with governments and communities to rebuild their tourism economies in a way that is equitable, inclusive, and sustainable.”

*This report presents results for the twelve month period up to and including March 2023, referred to as 2022*, which represents the first full year after the reopening of international travel. Prevailing exchange rates at the time of study were applied, using proprietary data from Oxford Economics.

Barbie’s Malibu DreamHouse is back on Airbnb – but this time, Ken’s hosting

Ken is inviting two lucky guests to stay in the newly revamped Malibu Dream House that will surely give you a one-of-a-Ken Stay. This is in celebration of the highly anticipated release of BARBIE only in theaters July 21

DOT’s "Love The Philippines" enhanced branding is Philippines’ Love Letter to the world

New slogan, new chapter for tourism in the Philippines, marks the golden anniversary of Department of Tourism

FPG Insurance Launches New Insurance Products for Bikers and Cyclists

FPG Insurance is rolling out two new group insurance plans that provide coverage to users of bicycles and motorcycles.

 

The plans, named MyCyclingClub Mate for cyclists and MyMotoClub Mate for bikers, were designed primarily to promote road safety awareness. As insurance instruments, both plans cover accidental death, permanent disability, medical reimbursement and third-party liability, among other benefits, after an accident when using a motorcycle or bicycle.

Sensible Innovation  

 

FPG’s new insurance plans are a timely response to the surge in the popularity of cycling and biking since the pandemic began, with more people now turning to these modes of conveyance as an alternative way to move faster from point A to point B for work, for business, for adventure and solo sojourns.   

 

Unfortunately, the rising number of bicycles and motorcycles on the road comes with higher risks of accidents. Statistically, as they grew in number so did a notable increase in road crashes involving them.  

 

The resurgence of bicycles during the pandemic has been seen in places once dominated by private cars and public transportation. As proof, 2.1 million bikes were imported into the Philippines in 2020, up 112% from 2019. 

During the same period, the Metro Manila Accident Reporting and Analysis System (MMARAS) reported that the number of bicycles involved in road accidents doubled from 2018 and 2019 to 2020. 

 

As for motorcycle and scooters, available data showed the Philippines posted the fastest growth at 32.3 percent to 867,453 units in 2021 from 655,440 units the previous year. According to the MMARAS report, the Metropolitan Manila Development Authority (MMDA) recorded a total of 26,768 motorcycles involved in road accidents in 2021 which was an increase of 1,560 from the previous year.  

 

Safe Travels 

MyCyclingClub Mate is a Group Personal Accident Insurance specifically designed for cyclists while MyMotoClub Mate is the counterpart Group Personal Accident Insurance for motorcycle riders.   

 

Each of these programs covers bodily injuries caused by an accident 24 hours a day, 365 days in a year, anywhere in the world, whether you’re at home or while travelling by land or sea or while riding as a passenger on commercial flights. It even provides for a victim of dog bites, snake bites, drowning and natural calamities.

Common provisions of the plans include: 

• Accidental Death - Pays up to the Sum insured in the event of death due to accident.  
• Disablement/Dismemberment - When injury does not result in loss of life of the Insured after the accident but results to losses of limbs, sight, ears, etc.   
• Unprovoked Murder and Assault Endorsement - Pays for death or permanent disablement sustained as a direct result of the insured being a victim of Unprovoked Murder or Assault  
• Accidental Medical Reimbursement - Pays for medical expenses incurred due to accidental bodily injury.  
• Daily Hospital Income Benefit (Due To Accident) - Pays for the daily allowance to the insured as a result of accident hospital confinement up to a maximum of 7 days  
• Fire Assistance Benefit - Pays for the loss and damages incurred to the Insured’s declared house residence or contents due to fire and lightning. 
• Personal liability plan - Pays for the insured for costs and expenses, which the insured may be obligated to pay for the damage to a property belonging to a third party because of negligence.

 

For an annual premium of Php 200, policyholders will get up to P100,000, to cover the cost of the insured’s accidental death. 

The target market is Bikers and Cyclist Associations with at least 20 members aged between 18-65 years old. The insured must declare their permanent residence address upon issuance.  

 

Ms. Sharon Navarro, FPG Insurance's Chief Underwriting Officer, said, "At FPG Insurance, we are committed to providing innovative insurance solutions that cater to the evolving needs of our customers. Our MyCyclingClub Mate and MyMotoClub Mate aim to promote road safety for cyclists and bikers who ride in groups as our latest plans offer comprehensive coverage that gives them peace of mind while they’re on the road."

June is a special month for FPG Insurance as they celebrate their 65th anniversary on June 5, with a special collaboration with Ayala for the Green Run marathon on June 25.

 

For more information about MyCyclingClub Mate and MyMotoClub Mate, visit FPG Insurance’s website at  https://www.fpgins.com.