REVITALIZING the local film industry will not only promote Filipino culture but also has the potential to bolster economic growth and reduce poverty.

A report released by the National Statistical Coordination Board (NSCB), an attached agency of the National Economic and Development Authority, said the local movie industry can create many jobs owing to the Filipinos’ penchant to watch movies.

Based on the 2008 Annual Survey of Philippine Business and Industry, NSCB Secretary General Romulo A. Virola noted that workers employed in motion picture and video production, animated films, and cartoons production reached 3,531. This represents about 0.10 percent of the total employment in the domestic economy.

 “If we want higher economic growth, if we want to create jobs, if we want to reduce poverty, won't revitalizing the film industry help?” said Virola.

Citing data from the Film Academy of the Philippines, he said that during the past decade, only 732 local films were shown for an average of 73 films per year. This is in contrast to the average of 140 local films shown every year from the years 1960 to 1999.

“In 2008, four of out of the 10 top grossing films in the Philippines were locally produced. However, each year thereafter, only two of the top 10 [excluding entries in the Metro Manila Film Festival or MMFF] were made locally,” Virola noted.

He also made a pitch for other cities to hold their own film festivals in view of the good performance of the MMFF.

“On the average, in two weeks of showing, MMFF films generate half-a-billion pesos, representing close to 10 percent of the combined revenues of local and international films shown in one year and  around one-third of the total annual revenues of local films shown in 2008 to 2011,” said Virola.

The NSCB noted that digital films or “indie films” which cost less to produce are on the uptick, with an output of 44 films last year compared to 12 in 2007.

Citing industry and government data, the NSCB said the combined gross revenues of local and foreign films represent 0.06 percent of gross domestic product (GDP) in 2011.

Apart from its potential to boost economic growth, Virola said the film industry can help in promoting Filipino culture.

“The movie industry can help our country to move forward. Through films that depict the culture, traditions and heroism of Filipinos, the movie industry can help our young ones and the young at heart to imbibe and cultivate a sense of national pride and love for country,” said Virola.