THE PERCEIVED FINANCIAL WELL-BEING OF LOCAL WORKFORCE IN PANGLAO, BOHOL AMIDST BUSINESS GROWTH

With the rapid expansion of business establishments driven largely by tourism in Panglao, Bohol, understanding the financial well-being of the local workforce becomes vital. This study examined the perceived financial well-being of the local workforce in Panglao, Bohol. Specifically, it assessed and compared the financial well-being of college and non-college graduates in terms of daily financial control, ability to absorb financial shocks, tracking and achieving financial goals, and financial freedom. The researchers employed a descriptive–comparative research design, collecting data from 388 local workers equally divided between college and non-college graduates across major economic sectors, which were analyzed using frequency counts, weighted mean, t-test, and analysis of variance (ANOVA).The study reveals that the local workforce generally experienced a moderate to high extent of perceived financial well-being, suggesting that business growth has positively influenced financial conditions. However, college graduates consistently perceive a higher extent of financial well-being across all dimensions compared to non-college graduates. Significant differences in perceived financial well-being were also observed when respondents were grouped according to selected demographic variables. The findings underscore the importance of educational attainment in enhancing financial well-being and highlight the need for inclusive policies, skills development, and financial literacy initiatives to ensure that economic growth benefits all segments of the local workforce.