Grab contributes up to 0.3% to GDP - study

Ride-hailing giant Grab Philippines contributes as much as 0.3 percent to the economy, as a peso spent on the platform generates an additional P3.42 in output, according to a recent report.

- ELIJAH FELICE ROSALES

In a study, the University of Asia and the Pacific (UA&P) found that Grab managed to contribute an average of 0.07 to 0.3 percent to the economy—measured as gross domestic product (GDP)—between 2019 and 2021.

UA&P program coordinator for entrepreneurial management Gregorio Mabbagu said the app chipped in between P37 billion and P165.6 billion to GDP during the period.

Also, Mabbagu said Grab produced a multiplier effect of 3.42 times between 2019 and 2021, beating other transport units like road freight and bus lines. This means that for a every P100 spent on the platform, the economy receives an extra P342 in output.