SOCIO-ECONOMIC ASPECT

This chapter presents an analysis of the potential socio-economic

implications of the proposed Boy's Dormitory. It explores the various ways in
which this development can impact the economy, employment opportunities,
environment, households, and government. Moreover, it emphasizes the
significant contribution of the proposed Boy's Dormitory to the overall
economy and its relevance to society. It is crucial to recognize these aspects
in order to foster a positive and sustainable impact on the community. This
project must not solely focus on profitability but also consider its effects on the
well-being of individuals and the overall societal conditions.

6.1 Effects of Project to the Society

In today's modern society, the progress of infrastructure holds
immense influence over the lives of individuals and the communities they
reside in. The proposed Boy's Dormitory aims to make a substantial societal
impact by analyzing diverse aspects, including its socio-economic effects.
This research endeavor strives to provide valuable insights into the potential
consequences of the dormitory on society at large.

Cultural Exchange and Diversity

A boys' dormitory in a city attracts students from diverse backgrounds,
both domestically and internationally. This diversity brings together individuals
with different cultures, perspectives, and experiences, creating an
environment conducive to cross-cultural learning, mutual understanding, and
appreciation. It can foster a sense of community among students residing in
the city. It provides a space for students to interact, collaborate, and form
friendships, promoting social integration and a sense of belonging.

School
The population growth of students in the Philippines has been
increasing over the years due to an increased interest in higher education and
the government's goal of increasing access to quality education. According to
the Philippine Statistics Authority, the youth population (15-24 years old) was
estimated at 27.2 million in 2020, which is approximately 26% of the total
population. As the number of students increases, the demand for affordable
and accessible student housing also increases. The establishment of a Boy's
Dormitory in a university can lead to increased enrollment and student
retention rates. With more students choosing to reside on campus, the
university can generate additional revenue through housing fees. This
revenue can be reinvested in improving educational facilities, faculty
recruitment, and academic programs, ultimately enhancing the quality of
education provided.

City Government
The presence of a Boy's Dormitory can lead to the expansion of local
services to cater to the needs of the student population. This can include
transportation services, laundry facilities, healthcare centers, and
entertainment venues. The development and growth of these services can
create employment opportunities and stimulate economic activity in the city. In
addition, it may stimulate demand for rental housing in the surrounding areas.
Property owners and real estate developers may benefit from increased
demand, leading to potential investments and growth in the local real estate
market.

6.2 Effects of Project to the Economy

Boy's dormitory market has had a positive impact on reducing the

unemployment rate in the country. Overall, the boy's dormitory market in the
Philippines has contributed positively to the country's economy by stimulating
investments, creating new employment opportunities, and boosting GDP
growth.

Market Share
The boy's dormitory market in the Philippines has contributed
significantly to the growth of the country's economy in recent years. According
to Statista, the Philippines' student population is expected to grow by 1.9%
per year, from 24.75 million students in 2020 to 28.31 million by 2025. This
growth in the student population has led to an increase in demand for student
housing, including boy's dormitories, which has had a positive impact on the
economy by stimulating investments and creating employment opportunities.
This growth in investments and job creation helps to increase the Gross
Domestic Product (GDP) of the country.

Employment
The increased growth of the boy's dormitory market in the Philippines
has created new employment opportunities in the construction, maintenance,
and management of student housing facilities. The growth of the market has
also led to an increase in demand for services, such as cleaning and security,
which has also helped to create new job opportunities. The establishment of a
Boy's Dormitory requires staff to manage the facilities, provide security, and
offer support services. This leads to direct job creation in various roles such
as dormitory managers, maintenance staff, security personnel, and
administrative positions. Additionally, the increased economic activity driven
by the dormitory can indirectly create employment opportunities in the
surrounding area.