LAOAG: Ilocos Norte has emerged as the fastest-growing economy in Region I, with an 8.6 percent expansion in 2024, despite facing a series of adversities. The province's resilience was tested by natural calamities, including El Ni±o and La Ni±a, as well as the ongoing threat of African swine fever, which affected thousands of residents.
According to Philippines News Agency, the local economy demonstrated strength by maintaining robust outputs in key industries such as services, accommodation, transportation, and storage, with growth rates ranging from 15.6 percent to 29.7 percent. The province has fostered a business-friendly environment, attracting renewable energy and business process outsourcing (BPO) companies to expand in this northern Luzon gateway, as noted by Rona Leigh Cheng Bueno, head of the Ilocos Norte Trade and Investment Promotions Office.
Ilocos Norte is currently home to over 100 wind turbines, generating over 360 megawatts of power and providing electricity to thousands of homes across the country. The rise of BPO companies has also led to significant job creation, placing the province's employment rate at 98.7 percent, the highest in Region I. The Provincial Employment Service Office (PESO) has been recognized for its effective programs in providing job opportunities, with over 350,000 individuals employed this year.
The Department of Labor and Employment (DOLE) reported post-pandemic employment recovery in the region, particularly in the services sector, with total employment rising to 2.240 million in 2023. The establishment of the Ilocos Norte Incubation Center has further stimulated the entrepreneurial spirit, with registered micro, small, and medium enterprises (MSMEs) increasing to 22,490 in 2024.
The province has also prioritized the modernization of agricultural practices and infrastructure development, including upgrades to Laoag International Airport, to support its growing economy. The tourism sector plays a key role, leveraging Ilocos Norte's cultural heritage and natural landscapes to attract visitors. Backed by the national government, the provincial administration continues to pursue initiatives aimed at stimulating economic growth and improving livelihoods for its over 600,000 residents.
