Wellness industry leads in number of establishments

MANILA, Philippines -  Personal services for the wellness industry posted the highest number of establishments in the formal sector of the economy, the Philippine Statistics Authority reported.

Based on the latest Annual Survey of Philippine Business and Industry (ASPBI), there were 422 establishments engaged in the other service activities sector, almost 70 percent or 293 belong to personal services for wellness.

This was followed by repair of personal and household goods and funeral and related activities industries, which accounted for 12 percent and seven percent, respectively.

At the regional level, National Capital Region recorded the highest number of establishments comprising more than half or 283 establishments.

The other service activities sector hired a total of 15,864 workers, 98 percent of which comprised paid employees while the rest were working owners and unpaid workers.

Personal services for wellness employed more than half of the total employment of the sector with 9,542 workers.

Meanwhile, repair of computers and communications equipment industry paid the highest average annual compensation amounting to P2.5 billion which translated to annual payment of P161,000 per employee.

Personal services for wellness industry also emerged as top earners and top spenders as income generated by the sector reached P10.6 billion.