Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Marcos restores tourism marketing budget

PHILSTAR FILE PHOTO

PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday ordered the Department of Budget and Management to use P400 million from his office’s contingency budget to fund the Department of Tourism’s (DoT) marketing campaigns this year, citing the need to boost the industry, according to the Presidential Communications Office.

“Restore the P400-million branding budget of DoT to sustain the momentum,” he said during a meeting with Tourism Secretary Ma. Christina G. Frasco, based on a statement from the presidential palace.

The President said the Philippines should not lose the momentum in promoting tourism programs to boost the country’s image and attract more foreign visitors.

Mr. Marcos earlier approved a proposal from his private sector advisers for a nationwide shopping festival and to ease visa access to foreigners, according to the palace.

In December, he signed into law a measure allowing foreign tourists to claim value-added tax for purchases worth at least P3,000. This is expected to boost tourist spending by at least 30% and benefit mostly micro, small and medium enterprises.

Based on Tourism data, the Philippines earned about P760 billion from international visitor receipts last year.

The Philippines received 5.95 million international visitors in 2024, up 9.15% but below the 7.7-million target. — John Victor D. Ordoñez

    You May Also Like

    Stock Markets

    The First Philippine Polymer Banknote Series is composed of the 1000-piso polymer banknote, as well as new polymer denominations: 500-, 100-, and 50-piso. —...

    Finance

    Homebase is set to return in a slimmed-down format after the DIY chain’s collapse last month, with its new owner CDS confirming plans to...

    Stock Markets

    When it comes to providing accommodations that have all the makings of a second home in the best Philippine destinations, Astoria Hotels and Resorts...

    Stock Markets

    No plan? No problem, as Absolut Vodka & SPRITE transforms the Philippines pulling off for the ultimate, unplanned hangout — celebrating the arrival of...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.