Gov’t disburses first nine loans for tourism MSMEs – BusinessWorld Online
PRESIDENT Ferdinand R. Marcos, Jr., said on Monday that the government will expand financing for small tourism enterprises as the government reorients its strategy to focus on cultural and community-based experiences.
At the Turismo Asenso Loan Awarding Ceremony in Pasay City, Mr. Marcos announced loan packages for nine tourism-related micro, small, and medium enterprises (MSMEs) in Metro Manila and Calabarzon.
The program is backed by the Department of Tourism, the Department of Trade and Industry (DTI), and the Small Business Corp.), which were urged by the President to “make sure that the Turismo Asenso Loan Program and other forms of assistance reach every part of the country.”
“Tourism is one of the pillars of our economy. It sustains livelihoods and fuels growth for thousands of small businesses across the country,” he added in remarks livestreamed by Radio, Television Malacañang.
According to the Philippine Statistics Authority, in 2024, tourism’s direct gross value added grew 11.2% to P2.35 trillion, its strongest performance since 2019, pushing tourism’s share of gross domestic product to 8.9%, level with its pre-pandemic share.
The loan program is part of a broader push to widen MSME financing channels, alongside DTI-led Negosyo Centers, trade fairs, and the Go Lokal! platform promoting homegrown products.
Mr. Marcos said the financing packages are an investment in “experiential tourism” focusing on immersive cultural experiences rather than resort-based leisure. — Chloe Mari A. Hufana
