This article explores the economic significance of Christmas in the Philippines, highlighting the industries and exports that thrive during the holiday season. It delves into the roles of local manufacturers, the impact of remittances, and the global market for Philippine Christmas decorations.
It is safe to say that Christmas in the Philippines would not be the same without a particular group of people—people whose lives would also be different without the holiday season. It is, in a very real sense, an ecosystem or an economic system, to be more exact.
From a purely economic standpoint, Christmas in the Philippines is largely dependent on remittances from migrant Filipinos. According to the data from the Bangko Sentral ng Pilipinas , remittances for December 2023 broke records at $3.6 billion, which is about 9.7 percent of that year’s total remittances of $37.2 billion.
The OEC further notes that the top five destinations for Filipino Christmas decorations exports are the following: the United States , Australia , Norway , Italy , and Sweden . Putting this in a more local perspective, it translates to a more or less vibrant Christmas decorations manufacturing and exporting industry in the Philippines. According to Volza, “there are a total of 120 Christmas decorations suppliers in Philippines, exporting to 465 buyers globally.
No Pinoy Christmas would be complete, of course, without food. And the holiday culinary scene is as colorful as the decorations that light up the season. From street food vendors to Instagram-only sellers and even to classy classics served in fancy cafes or restaurants, there is a plate of Filipino Christmas delights to satisfy that holiday craving for puto bumbong or bibingka. Food, in fact, takes the number one spot for household holiday expenses.
Economics CHRISTMAS ECONOMY REMITTANCES EXPORT DECORATIONS PHILIPPINES
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