National GDP contribution (by effects)
In summary, while the initial "investment" (CapEx) is the catalyst thatignites economic benefits (Direct effect), the key mechanism that expands and embeds this benefit subsequent salary-driven "Induced Effect." In addition to its contribution to GDP, offshore wind investment will also generate significant local employment. Depending on the localization scenario, an estimated 225,887 to 244,448 full-ime equivalent (FTE) jobs will be created annually on approximately 22 to 24 bilion pesos in annual labor salaries. The analysis shows increasing induced jobs and incomes in the Philippines.