LGBTQ+ discrimination costly for PH
Increased inclusion efforts could lead to a stronger, more competitive economy, according to new research.
Open for Business, a coalition of leading global companies, has launched a new report exploring the economic case for inclusion in the Philippines, as well as five other Southeast Asian focus countries (Indonesia, Malaysia, Singapore, Thailand and Vietnam). The report, which combines findings from a range of quantitative and qualitative research methods, explores several factors that, if addressed, could improve economic performance.
The report estimates that lesbian, gay, bisexual, transgender, queer, intersex and asexual (LGBTQ+) discrimination costs the Philippines between P65.6 billion and P147.6 billion, or about 0.3 percent to 0.67 percent of gross domestic product (GDP) per annum.
Increased efforts to reduce “brain drain,” improve reputation and tourist appeal and close the LGBTQ+ wage gap all present opportunities to grow GDP and be more competitive with other economies.
The report indicates that countries with more inclusive policies are usually less corrupt. The Philippines has the poorest corruption score among the six countries in the report.
The actual cost to the Philippines of LGBTQ+ exclusion is likewise estimated. For example, the cost of LGBTQ+ depression is seen to cost between P8.4 billion and P25.3 billion. According to LGBTQ+ advocacy group Asia-Pacific Coalition on Male Sexual Health (Apcom) data, 26 percent of LGBTQ+ adults in the Philippines have been diagnosed with moderate to severe depression. Secondly, in terms of health-care costs, the report estimates the cost to society of government response to HIV and AIDS at P24.3 billion to as much as P73 billion.
Despite this, research from Boston Consulting Group shows that programs in Southeast Asia that support LGBTQ+ employees are growing at less than half the speed of those that support women or other minorities. Apcom is calling for the Philippines and other countries in the region to enact legislation to protect LGBTQ+ people from workplace discrimination. Currently, Thailand is the only country in the region that provides such legal protection.
LGBTQ+ discrimination is seen to shape perceptions on a world stage, leading to a negative impact on talent attraction, export markets for consumer goods and tourism.
A strong international reputation is seen to underpin trade-building activity and access to global markets. The Philippines’ recent effort to market itself as a hotspot for LGBTQ+ tourists and their loved ones is seen to be an effective example of how to harness inclusion to strengthen economic impact.
Stephanie Galera, head for Southeast Asia at Open for Business, says: “This report demonstrates the potential economic impact improved LGBTQ+ laws and support can have on economies, business and individuals’ performance. The Philippines continues to make strides for LGBTQ+ citizens and visitors alike, and we hope this report helps strengthen the brilliant work being done by civil society and business leaders to take this and its economy even further.”
