ALMA Shipowners, seafarer spending drive P1T economic impact

Title Unveiling ALMA The Hidden Economic Impact of Shipowners and Se
Seafarers' Spending

The maritime industry in the Philippines is often seen as a sector sustaine
sustained by seafarers' remittances. However, a deeper economic reality was
was highlighted at the SAFETY4SEA Manila Forum 2026, revealing a significan
significant domestic economic contribution that has gone unquantified for t
too long.

Economic Impact of Shipowners and Seafarers' Spending

Iris Baguilat, chairman of the ALMA Maritime Group, presented data from a 2
2025 study, The Philippine Manning Service Industry Prospects and Impact 
on the Philippine Economy and Industry Development Policy. The study showe
showed that every peso spent generates P3.20 for the Philippine economy, hi
highlighting the economic multiplier effect.

Significance of Shipowners' Spending

Baguilat emphasized that shipowners inject P54.3 billion into the industry 
before a single sailor sets foot on board, covering costs such as training,
training, medical services, and crew logistics. These expenses contribute P
P53.4 billion to the economy for education and training, medical services, 
and other related expenses.

Impact of Seafarer Remittances

When seafarers' remittances reach home, families spend an average of P277.4
P277.4 billion annually, translating to about P1.06 trillion after applying
applying the economic multiplier effect. This significant contribution high
highlights the importance of the maritime sector in driving economic growth
growth and development.

Vulnerability of the Industry

Baguilat warned that the industry's biggest risk today is not competition, 
but a loss of confidence, which can lead to shipowners withdrawing their ve
vessels from certain markets. To rectify this, ALMA proposed strengthening 
certification and compliance monitoring of manning agencies and adopting a 
Tiered Penalty and Enforcement Matrix that imposes targeted and proportio
proportionate sanctions based on the frequency and severity of offenses.

Conclusion

The significance of ALMA in driving a P1 trillion economic impact cannot be
be overstated. By recognizing the importance of shipowners' spending and se
seafarer remittances, we can better understand the industry's full potentia
potential and work towards creating a more sustainable and predictable envi
environment for all stakeholders involved.

Keywords ALMA Maritime Group, Shipowners, Seafarers, Remittances, Econ
Economic Impact, Manning Service Industry, Philippine Economy.

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Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.