Study reveals the crucial role of seafaring in Philippines’ economy

Study reveals the crucial role of seafarering (SIC) in Philippines’ economy
The Editorial Team November 28, 2025 https://safety4sea.com/study-reveals-the-crucial-role-of-seafarering-in-...

A study by Center for Research and Communication of the University of Asia and the Pacific (UA&P) and the ALMA Maritime Group has revealed that the Philippine seafaring industry generated a total ₱1.06 trillion (USD 18 billion) in economic activity in 2024.

The study, titled “The Overseas Seafarers’ Industry Profile, Structure, and Impact on the Philippine Economy,” found that Filipino seafarers contribute about 4% of the country’s Gross Domestic Product (GDP), supporting nearly 400,000 jobs nationwide and providing ₱150.1 billion in household income.

For every peso a Filipino seafarer sends home, nearly three pesos ripple through the economy … explained Dr. Winston Padojinog, UA&P Professor of Strategic Management and Industrial Economics and President of the Center for Research and Communication.

In 2024 alone, ₱331.7 billion in direct remittances from seafarers flowed into local communities, driving consumption, business growth, and tax revenues.

These remittances go through different sectors. There are industry multipliers; for every peso that they spend, it generates more than a peso after it goes through the different industries … Padojinog explained.

But beyond remittances, seafaring also creates an extensive domestic ecosystem. The study points out that the industry supports a wide range of onshore jobs — from crewing and logistics to training, insurance, and maritime services — all interconnected with the confidence of shipowners in Filipino manpower.

In addition, the study revealed that the industry’s economic impact depends heavily on maintaining global confidence in the Philippine seafaring workforce. Should shipowners lose confidence, whether due to policy instability, skills gaps, or global competition, the consequences could be swift and severe.

“In global shipping, when confidence breaks, ships leave,” the study cautioned.

Losing that confidence, researchers noted, would endanger ₱1.06 trillion in economic activity, an estimated 4% of the nation’s GDP, a blow that would ripple across the national economy.

An industry that anchors families and futures

Behind these numbers are real human stories such as parents building homes, children completing their education, and communities strengthened by the resilience of maritime families. The study emphasized that these experiences reflect how the nation’s maritime workforce profoundly shapes the Philippines’ economic and social landscape.

It further underscored that protecting the maritime industry is not only about safeguarding jobs but also about securing the well-being of Filipino families and the country’s economic prosperity.

Additionally, the study highlighted the importance of reintegrating retiring seafarers and professionals whose years of technical experience and leadership can significantly enrich and strengthen the local maritime sector.

As the study shows, Filipino seafarers are not just navigating the seas, they are steering the Philippine economy toward growth.

Every Filipino at sea means a Filipino family on land has hope … the report concluded.