THE National Economic and Development Authority (Neda) in Northern Mindanao has estimated P28.53 billion worth of losses in the region from March 15 to July 13, as the coronavirus disease (Covid-19) pandemic continues to threaten the country's economy.
Mylah Faye Aurora Cariño, the regional director of Neda, said that for the entire year, they are estimating the total losses of the region would reach P49.92 billion.
The Neda has also recorded P2.66 billion tourism-related losses in Northern Mindanao as of March 15 to July 31.
The figure is based on the estimated expenditure of local and foreign tourists of the National Tourism Development Plan wherein P2,172 is being spent by a local tourist per day while a foreign tourist spends $107 per day.
Meanwhile, a total of 322 online businesses have registered in the region from January to July in 2020, 304 of them were registered during the pandemic.
Cariño said there was a sharp increase in the number of registered online businesses during May, June and July, reaching 283 business, constituting around 88 percent of the total 322.
Most of the businesses were in retail and trade, she added.
