CAGAYAN de Oro City has recorded P895-million tourism-related losses from March to May 2020, National Economic and Development Authority (Neda) Assistant Regional Director Leonila Cajarte said.
Cajarte said the figure constitutes to 71.7 percent of the total tourism-related losses of Northern Mindanao in the same period, which is P1.248 billion.
Cagayan de Oro also registered the highest number of displaced employees out of the nine cities in the region, reaching more than 10,000 or around 68 percent of the total displaced employees of 15,519 in Northern Mindanao.
According to Cajarte, in the economic parameters in terms of establishments and workers affected by Covid-19, Cagayan de Oro is classified as “high” among the nine cities in the region.
“The risk of quarantine to the economy of Cagayan de Oro City is high because the percentage here of the affected firms as well as the affected workers is higher in regional average and is highest among the cities,” Cajarte said.
Cagayan de Oro City has a total of 4,438 establishments affected by the Covid-19, contributing to 56.76 percent of the total affected establishments in the region, which is at 7,891.
In terms of Covid-19-affected workers, the city has a total of 89,619 that constitutes to 65.2 percent share of the total affected workers in the region at 137,539.
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