P79-B golden goose: NEDA details POGOs’ share to PH economy

POGO

Philippine offshore gaming operators (POGOs) added over P79 billion to the local economy yearly on top of the P4.5 billion worth of taxes collected from them, government data showed.

National Economic and Development Authority (NEDA) Assistant Secretary Sarah Lynne Daway-Ducanes broke down the contributions during a joint Senate hearing on POGOs amid calls to ban such operations in the country.

Per the agency’s computation, POGO employees and players shell out P36 billion a year in housing rental and P11 billion for office space, along with an estimated P17.5 billion in salaries and consumption of foreign nationals in the industry.

Other contributors are salaries and spending of Filipino POGO workers (P6.5 billion), transportation (P5.1 billion), and insurance (P2.7 billion).

NEDA’s data dates back to 2019 since POGO operations were disrupted beginning 2020 due to the COVID-19 pandemic.

Put together, the POGO sector adds 0.4% to Philippine gross domestic product. NEDA admitted, however, that the value added is likely lower in recent years as more operators have shut down and fled the country due to COVID-19 and the subsequent tightening of regulations towards POGOs.

https://bilyonaryo.com/2022/10/05/p79-b-golden-goose-neda-details-pogos-share-to-ph-economy/business/