Influences of financial inclusion to the development of the municipality of Gainza

  • Jeff Andre C. Catoy
  • Trixan Heart F. Job
  • Ain Lee A. Latagan
  • Dexter B. Moises
  • Benedict R. Santiago
Keywords: Financial Inclusion, Economic, Social, Government Projects

Abstract

Financial inclusion is recognized as a catalyst for reducing poverty and promoting economic resilience. The research examines how financial inclusion impacts Gainza’s economic growth, social factors, government projects, and overall quality of life. Utilizing a mixed-method approach, the study combines quantitative data, such as metrics on banking access, microfinance penetration, and digital payment adoption, with qualitative insights gathered from interviews with government officials to assess strategies that can be formulated considering their current situation. This study determines and evaluates the overall financial inclusion of the residents and the development of the municipality as of 2024. A development strategy was crafted: “USAD: A Strategic Plan towards Financial Inclusion in the Municipality of Gainza.” It stands for the acronym U.S.A.D.—Understanding, Support, Accessibility, and Development. Using a descriptive research survey of 369 residents and in-person interviews with government officials, the findings reveal the Municipality of Gainza can also be considered a competitive municipality in the field of financial inclusion. Gainza has the means to offer different financial services to its residents, such as savings, insurance, loans, and investments. However, barriers like lack of financial literacy, lack of financial institutions, and limited options for available financial products limit them from reaching a wider range of residents in the area. This leads to the moderate development status of the Municipality because residents are unaware of and struggling to participate in different economic activities.

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Published
2025-01-10
How to Cite
Catoy, J. A., Job, T. H., Latagan, A. L., Moises, D., & Santiago, B. (2025). Influences of financial inclusion to the development of the municipality of Gainza. GPH-International Journal of Business Management, 8(01), 118-141. https://doi.org/10.5281/zenodo.14628753