Economy
Although the economy in the southern portion of the region, esp. Pangasinan, is anchored on agro-industrial and service industry, the economy in the northern portion of the region is anchored in the agricultural sector. The economy in Pangasinan is driven by agro-industrial businesses, such as milkfish (bangus) cultivation and processing, livestock raising, fish paste processing (bagoong), and others. At the same time the importance of trading, financial services, and educational services in the economy cannot be denied. Income in the Ilocos provinces or northern portion mostly come from cultivating rice, tobacco, corn, sugarcane, and fruits; raising livestock such as pigs, chicken, goats, and carabaos (water buffalos).
The distribution of the economic activity in the region may be seen from the collection of tax revenue of the national government. The bulk of the collections come from Pangasinan, which posted 61% of the total.
The service and light manufacturing industries are concentrated in the cities. Dagupan City is mostly driven by its local entrepreneurs, which have started to expand its network up to the national level. San Fernando City in La Union also has an international shipping port and the upgraded and soon to be developed San Fernando International Airport. While Laoag City in Ilocos Norte has an international airport.
The tourism industry, driven by local airlines and land transportation firms in the area like Farinas Transit Company and Partas, focuses on the coastal beaches and on eco-tourism. There are fine sands stretching along Bauang, La Union and the rest of the region. Opportunities to engage in other water sports and activities abound. Eco-tourism takes advantage of the marine and forest resources in the region and displays the natural beauty of the Region 1.
The region is also rich in crafts, with renowned blanket-weaving and pottery. The Ilocanos' burnay pottery is well known for its dark colored clay.
Read more about this topic: Ilocos Region
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)