Subscribing to Grab Philippines’ services serves as a conduit to substantial economic growth in the country, according to a study by the University of Asia and the Pacific (UA&P) Center for Research and Communications (CRC).
Dubbed “The Impact of Ride-Hailing and On-Demand Delivery Services on the Philippine Economy: A Focus on Grab Philippines,” the study validates Grab’s capability to magnify economic returns to the country.
The research specifically highlights Grab’s economic returns at the rate of Php3.42 for every single peso its customers spend on its service. In bigger numbers, this means that the company gives Php342 to the country’s economy for every Php100 it earns with its services.
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With its astounding effect, Grab Philippines takes the lead in terms of economic contribution within the transportation sector. It even outpaces heavy industries, like mining. However, it ranks only third among seven transport sectors, following railway and air transport.
UA&P Associate Professor, Senior Economist, and Input-Output Analysis Specialist, Dr. Cid L. Teropa emphasizes Grab’s strong foothold in the country in addition to its portfolio of services, technology, and potent ecosystem of merchants and partners in being a strong driving force to push the country’s economy forward.
Describing it also as a superapp, Terosa credits Grab’s unique disposition in having the realization of the multiplier effect, said to resonate across the economy and Filipino households.
Meanwhile, the study also reveals that patronage to Grab accounts for 0.07 percent to up to 0.3 percent of the national Gross Domestic Product (GDP).