As the Philippines continues to suffer the devastating impact of the worst storm to have ever hit land, analysts have started to weigh up how damaging this tragic event could be on the country's burgeoning economy.
The storm is estimated to have killed up to 10,000 people and destroyed towns and villages across on the island of Leyte and neighboring island Samar, after storm surges as high as trees and wind gust reaching 175 miles per hour ravaged the region.
(Read More: Philippine typhoon kills estimated 10,000)
Since the typhoon made landfall on Friday, the Philippines' domestic currency - the peso - has weakened by 0.3 percent against the dollar to trade at around 43.405. Meanwhile, the Philippine stock market fell 2.2 percent in the first half an hour of trading Monday.
According to PJ Garcia, head of institutional business at BPI Asset Management, the economic impact of the typhoon should be contained to the area of the Philippines most heavily hit and the effect on the rest of the economy should be minimal.
"This is a very unfortunate event. It's unprecedented in terms of the damage done [to the region]...The market will likely, of course, see some correction from here in the short term, [but] in terms of the impacts on earnings for listed companies, I think the impact is not as adverse as the devastation on the ground," he said.
(Read More: Scenes from Philippines' super storm)