You might expect Filipinos to be freaking out as the Mount Mayon volcano spews fountains of lava east of Manila. In 1991 the eruption of Mount Pinatubo killed 722 people and left 200,000 homeless in the same country.
In Albay province, the location of the cone-shaped Mount Mayon (Red Cross map here), more than 90,000 people have been evacuated. The Philippine Institute of Volcanology and Seismology recorded ”near continuous” lava fountains February 6 and on January 29 logged a “lava effusion event” lasting 96 minutes as well as a fountain of lava 200 meters high. The government says it’s offering aid and volcanic activity info to keep the province safe.
However, the real impact of Mayon’s 2018 eruptions have been muted — a light hit to domestic airlines and overnight tourism, combined with a boom in day-trippers to surrounding Albay province. They’re going for up-close but safe views of the volcano.
Pause in flights
Philippine budget carrier Cebu Pacific Air and its subsidiary CebGo called off 10 flights January 26 to or from Legazpi, the nearest major city to Mount Mayon, Philippine-based ABS-CBN news reported. It spiked another eight from Feb. 1-3.
Cebu Pacific’s competitor Philippine Airlines says it canceled four flights from January 27 through 31 in light of a four-day airport closure that ended January 26, replaced by a government aviation authority caution that pilots avoid dangerous airborne ash. Neither airline answered requests for comment on the volcano’s impacts to business.
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Mount Mayon also lies in a 5,459-hectare national park rather than at the edge of a major city. Its relative remoteness reduces threats to human life and property. Pinatubo heavily damaged Clark and Subic, sites of former U.S. military bases – which hastened their closures because of the volcano.
Human activity is banned only within six kilometers of the lava fountains so people avoid any rockfalls or explosions, this report says.
Warnings ahead of the Pinatubo eruption, though effective, were tough because people nearby spoke four dialects and there was a bit of local political friction at the time, this U.S. Geological Survey study says. That explosion, one of the most catastrophic in volcanic history, resulted in $374 million in economic losses.
Massive losses unlikely
The Mount Mayon region also contributes just 2% to the $305 billion Philippine GDP, muting the prospect of massive economic losses from any large-scale eruption, says Christian de Guzman, vice president and senior credit officer with Moody’s Investors Service in Singapore.
“From an economic standpoint, the impact from an even larger eruption of Mount Mayon would be manageable,” de Guzman says.