By Rjay Zuriaga Castor
The Western Visayas region is unlikely to reach a trillion-peso economy soon due to the separation of Negros Occidental and Bacolod City, according to the National Economic and Development Authority (NEDA-6).
NEDA-6 Director Arecio A. Casing Jr. stated that only Central Visayas will maintain a trillion-peso economy based on the 2022 gross domestic product (GDP).
In June, the president signed a law creating the Negros Island Region (NIR), which separates Negros Occidental and Bacolod City from Western Visayas, while removing Negros Oriental and Siquijor from Central Visayas.
Central Visayas was the fourth-largest regional economy in the country in 2022, contributing PHP 1.287 trillion, or 6.5 percent of the national GDP.
In contrast, Western Visayas recorded an economy valued at PHP 955 billion in the same year.
Citing the economic performance of both regions over the past three years, Casing projected a PHP 1.1 trillion economy for Central Visayas by 2024 or 2025, while Western Visayas and the newly established NIR are expected to reach PHP 550 billion each.
“Even with a high growth rate, we won’t reach the trillion mark anytime soon. But we will strive to grow together with NIR and explore the opportunities available in the region,” Casing added.
NEDA-6 data showed that the NIR’s 2022 GDP is slightly lower than Western Visayas but significantly below that of Central Visayas.
From 2021 to 2022, Western Visayas had a 10.22 percent growth rate, Central Visayas grew by 7.66 percent, and the NIR grew by 7.72 percent.
Casing highlighted that Negros Occidental was the largest contributor to Western Visayas’ GDP in 2022, adding PHP 246 million, while Bacolod City contributed around PHP 133 million.
In terms of 2022 GDP per capita, Bacolod City ranked second after Iloilo City, with PHP 214,527, followed by Negros Occidental with PHP 94,981.
Casing emphasized that the reduction in GDP for Western Visayas and the creation of the NIR will not directly impact the quality of life for residents of Panay Island and Guimaras.
“Essentially, it will not affect us. Life goes on. These are just economic figures, and the creation of NIR is primarily a political boundary shift,” he explained.
“There’s no cause for concern. It’s merely a political adjustment,” he added.
