Loreto's Economic Growth: A Story of Resilience and Untapped Potential

Poblacion, Loreto, Agusan del Sur

Satellite View from Google Earth

Heads Up: This is a comprehensive post, but don't worry if you can't read it all at once. We've highlighted the key points that we believe will be most beneficial for our readers. Feel free to focus on those. Also, please read the disclaimer before taking critical actions based on the information we provide.

This blog post delves into the economic performance of Loreto, Agusan del Sur, Philippines, offering valuable insights to both local residents and those interested in the municipality's development.

Key Points:

• Visible Transformation: Satellite images might not reflect Loreto's recent progress. Google Maps' street view showcases the bustling entrance road to the government center, lined with thriving small businesses like Bread Ribbon and Zoe Shamia Fashion Trends.

• Data-Driven Analysis: Google Business Profile data reveals significant interest in Loreto Microtel (232 direction requests) and New Loreto Public Market (33 direction requests in January 2024 alone). This highlights their growing popularity and accessibility.

• Questionable Data: The CMCI-DTI's local economy growth score for Loreto dropped from 0.3335 in 2020 to 0.0013 in 2023, contradicting the evident growth observed on the ground. This discrepancy warrants further investigation.

As we look back at the past year's economic performance, our goal is to identify what worked and what didn't to devise effective strategies to improve the economic growth of Loreto, Agusan del Sur. We aim to provide valuable insights to other municipalities striving to enhance their economic performance.

We conducted a short comprehensive analysis by collecting data from various sources, including Google Earth, maps, and the CMCI-DTI portal. We collated screenshots from these sources to perform a comparative study.

Let's begin with the data obtained from Google Earth and Maps. 

The satellite view of Loreto from 2015 reveals that the majority of the area is covered with rice fields, even in locations marked as Loreto Microtel. However, we suspect that the satellite images have not been updated since 2015, as the area has undergone significant changes since 2019. 

The photos submitted on Google Maps provide evidence of the transformation that has taken place. The screenshot of the street view shows the current entrance road leading to the municipal government center. This is where the Loreto Microtel, Dome, New Public Market, Recreational Center, Police Station, Fire Station, and other government-owned establishments are situated.

Located along the street are several newly established small businesses that, despite the ravages of the pandemic, have persevered and are now thriving. Presently, the street boasts of seven stalls, each of which is occupied by different proprietors. Among these are Bread Ribbon, a bakeshop, and Zoe Shamia Fashion Trends, a fashion store, both of which are sure to capture the attention of passersby. Other stalls along the street include sari-sari stores, vehicle repair shops, and small restaurants or snack bars, which are all equally enticing. The collective spirit and resilience of these small businesses are a testament to the unwavering determination of entrepreneurs, even in the face of adversity. 

Now, let's enter the government center.

In the photo is a zoomed-out view of the map of the Loreto Recreational Center. The good thing about Google Maps is that it can identify the pedestrian traffic in an area (indicated in the graph under "Popular Times"). Also, if you own the business profile, you can access other data that cannot be seen by the public such as the number of views of the location, the number of people who asked for directions, and other details available only to those who own or manage the account.

Let's go to Loreto Microtel.

It's important to note that the data displayed in the photo below is visible only to those who manage or own the Loreto Microtel Google Business Profile. This information can be particularly useful for helping business owners understand how potential customers are interacting with their business online.

In terms of specific data, between August 2023 to January 2024, there were a total of 232 direction requests made to Loreto Microtel. This indicates that there is a significant amount of interest in how to get to the business location. Additionally, a total of 835 people viewed Loreto Microtel's Google Business Profile on Google Maps and Search using their mobile and desktop devices. The search keywords used were: hotel, microtel, "loreto microtel, boulevard, loreto, agusan del sur", lodge agusan del sur, and loreto microtel. These keywords can give you a better idea of what potential customers are searching for when looking for a business online. By understanding this information, we can make better decisions about how to optimize Google Business Profile and improve online visibility.

Let's move forward to the New Loreto Public Market

The New Loreto Public Market Business Profile has provided us with valuable information regarding the number of direction requests at their location. Specifically, in January 2024, 33 individuals asked for directions to the market. Furthermore, between August 2023 and January 2024, it showed a total of 242 direction requests. This information can be used to determine the market's popularity and accessibility, as well as to make improvements to the signage or directions provided to patrons.

The number of actual pedestrian traffic could be higher than the data because of the Tabo Day every Tuesday.

Now, let's look at the data from the CMCI-DTI

We will focus on the Economic Dynamism of Loreto specifically the Local Economy Growth from 2015 to 2023.  

According to the site, local economic dynamism is a term used to describe the rate and direction of change in an economy at the local level. It is characterized by stable expansion of businesses and industries, and higher employment rates. This pillar aligns the output and productivity of the local economy with the local resources.

In the context of the Philippines, the country has been adapting to the fourth industrial revolution, which has challenged major conceptions of economic development and necessitated the need for a new level of competitiveness among national and local governments. The Philippine economy has yet to maximize the gains of this new revolution, but economically competitive local government units (LGUs) should be smart and digitally adaptable as reflected in the Competitive Localities and Innovation (CLI) index. The study re-imagines local economic development in the digital revolution and enriches existing literature anchored on Porter’s national competitiveness.

In the screenshot above, it is evident that the local economy growth score has significantly dropped from 0.3335 in 2020 to 0.0013 in 2023. This rating is questionable because it is lower than the scores from 2015 to 2019, despite the clear growth of businesses in the municipality. We are uncertain about the source of the data used by the agencies, but it is clear that there is a significant discrepancy between the provided data and the actual situation on the ground.

Despite the questionable data, Loreto's entrepreneurial spirit and visible development paint a promising picture. The collective efforts of local businesses and the government bode well for future economic growth. By leveraging technology and addressing data inconsistencies, Loreto can unlock its full potential and achieve sustainable prosperity.

Call to Action:

• Local Government: Investigate the discrepancy in economic growth data and advocate for accurate representation.

• Entrepreneurs: Utilize online platforms like Google Business Profile and Google Merchant Center to optimize online visibility and attract customers.

• Residents: Support local businesses and advocate for Loreto's continued development.

Collection of photos and data from Google and CMCI websites.