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MANILA - The six-month closure of Boracay could result in $1 billion in economic losses, an analyst said Wednesday, as the government proceeded with its cleanup of the island.

The estimated hit due to cancelled bookings from GlobalData tourism analyst Konstantina Boutsioukou was in line with the previous estimate of P56 billion by the Boracay Foundation.

National Economic Development Authority Director Reynaldo Cancio had said gross domestic product growth could be reduced by 0.1 percent due to the shutdown, which he said was not significant.

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Of the 6.6 million tourists that visited the Philippines last year, 2 million visited Boracay, half of which are foreigners, Boutsioukou said.

She said the Philippines should promote other beach destinations to retain tourists who might move to Indonesia, Malaysia, Thailand and Vietnam.