A study has revealed that discrimination against the LGBTQ+ community in the Philippines leads to a loss of up to P73 billion in the country’s GDP every year. The loss is attributed to factors such as wage discrimination, limited access to healthcare and brain drain.The coalition Open for Business estimates these losses and urges policymakers to revisit policies promoting diversity, equality, and inclusion (DEI) for the LGBTQ+ community.Jap Ignacio, executive director of Babaylanes Inc., emphasized that LGBTQ+ inclusion is not merely a social issue but a critical economic one.“Companies that embrace diversity perform better, but without clear DEI policies in the private sector, progress remains uneven,” Ignacio said.A study by the University of the Philippines also highlights that despite having slightly higher education levels, LGBTQ+ individuals continue to face higher rates of underemployment and are more likely to be employed in precarious, informal jobs.Discriminatory practices such as unfair treatment, verbal harassment, and barriers to career advancement are frequently cited as reasons for the economic exclusion of LGBTQ+ Filipinos, according to Rocky Rinabor, project manager of TLF SHARE Collective.Rinabor further noted that current economic policies rarely address the specific challenges faced by LGBTQ+ Filipinos, which contributes to their exclusion from many economic opportunities.Brain drain due to discriminationThe Babaylanes Inc. study also highlights that discrimination and stigma against LGBTQ+ workers have hindered the country’s efforts to achieve economic inclusion. The organization attributes this to the lack of government-led initiatives that would enable LGBTQ+ individuals to access equal economic opportunities.Ignacio further explained, “Our most talented workers are leaving the country, not just for better opportunities, but for environments where they can feel safe, accepted and empowered to be their true selves.”The Asian Development Bank (ADB) has recognized the importance of including LGBTQ+ issues in the development agenda of countries like the Philippines. The ADB believes that true inclusion drives economic growth by allowing LGBTQ+ individuals to contribute their unique skills and perspectives without barriers.The SOGIE Equality Bill and Economic GrowthLGBTQ+ advocates believe the proposed SOGIE Equality Bill, which includes anti-discrimination provisions, could help address these challenges. They argue that the bill would create a more inclusive economic environment, which could mitigate brain drain and enhance overall economic performance.Ignacio stressed, “Policymakers must understand that passing the SOGIE Equality Bill is a vital step toward building a stronger, more inclusive economy.”He added, “If we want to future-proof the Philippine economy, we need to invest in all our people. Inclusion isn’t a handout — it’s a smart economic strategy.”