economic growth – Page 2 – Author Carlo Carrasco

IMF Reduces Philippine Growth Outlook Until 2027

July 15, 2026July 10, 2026carlocarrasco

While the government of the Philippines is delighted over the nation’s new status as an upper-middle income economy (click here and here) believing that a bright economic future is approaching, the International Monetary Fund (IMF) sees the national economy growing at a weaker pace until 2027, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE PHILIPPINE ECONOMY could post its weakest growth this year since the pandemic, as the Middle East war drives up prices and dampens economic activity, the International Monetary Fund (IMF) said.

In its latest World Economic Outlook (WEO) released on Wednesday, the IMF trimmed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.9% from 4.1% previously. This is still within the government’s 3.5%-4.5% target.

“This reflects a weaker-than-expected outturn in the first quarter of 2026 (2.8%) alongside a larger-than-expected effect of the war in the Middle East on prices and activity in the Philippines,” an IMF spokesperson said in an e-mail.

Oil price shocks and the lingering impact of the flood control fallout dragged first-quarter Philippine GDP growth below market and government expectations at 2.8%.

Since the United States and Israel first launched attacks on Iran on Feb. 28, spiraling oil prices fed into the costs of other key commodities and squeezed consumers’ pockets.

If the IMF’s projection holds true, the country’s full-year expansion will be weaker than the 4.4% recorded in 2025, when a massive flood control corruption scandal dampened public spending, investments, and sentiment.

It would also mark the economy’s worst performance since the 9.5% contraction during the COVID-19 pandemic in 2020.

Excluding the pandemic, it would match the 3.9% expansion in 2011 and would be the worst in 17 years or since the 1.4% in 2009.

The multilateral lender’s Philippine growth estimate is below its projection for ASEAN-5, which it kept at 4.1% for this year. ASEAN-5 is composed of Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

The Philippines is expected to lag Indonesia (5%) and Malaysia (4.7%) but outpace Thailand (1.9%) this year.

At the same time, the IMF trimmed the Philippine growth projection for 2027 to 5.5% from 5.8% previously, on the back of base effects and a potential improvement in sentiment.

This is within the government’s 5%-6% target for the year. It is also above the IMF’s 2027 growth projection of 4.3% for ASEAN-5.

“The rebound in 2027 is driven mainly by favorable base effects, alongside a gradual pickup in investment as confidence improves and supply-side effects related to the war ease,” the IMF spokesperson said.

According to the multilateral lender, risks to domestic growth may come from extreme weather disturbances, as well as a slower-than-projected normalization of public investments and reform momentum.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you find the IMF’s analysis for the Philippines believable? Do you think the economy of the Philippines will grow below 5% per year until the end of 2028?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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BSP Eyes Late-2026 Relaunch Of Coin Deposit Machines

July 14, 2026July 7, 2026carlocarrasco

Remember the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) installed in key locations in the Philippines? The BSP is aiming to relaunch the coin deposit machines program before the end of this year, according to a news article by the Philippine News Agency (PNA).

It is recalled that almost P1.5 billion worth of coins were deposited before the BSP suspended their program in June of 2025.

To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…

The Bangko Sentral ng Pilipinas (BSP) is aiming to relaunch the operation of coin deposit machines (CoDMs) in Metro Manila before the end of the year.

In a recent media luncheon, BSP Deputy Governor Bernadette Romulo-Puyat told reporters the BSP is targeting the initial relaunch of the existing 25 CoDMs for the last week of October to early November 2026.

“This timeline takes into account the required software enhancements, modifications to the enclosure and hardware components, as well as the calibration, accuracy testing, and end-to-end testing of the existing CoDM units prior to deployment,” Romulo-Puyat said.

CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash electronic wallets.

To recall, the BSP temporarily suspended the operation of CoDMs last year to review how to re-circulate idle coins.

Following the review, the BSP will relaunch the coin deposit machines as part of its commitment to enhancing its coin recirculation program.

Romulo-Puyat said the BSP partnered with SM to lower the operational costs of the CoDMs.

“The coin retrieval was so expensive, so we found ways for the private sector to be able to bear the cost,” she said.

Aside from the 25 CoDMs earlier deployed in Metro Manila, another 25 will be deployed in other areas next year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines Supreme Court Upholds Law Granting VAT Refund To Foreign Tourists

July 12, 2026July 6, 2026carlocarrasco

Remember the law granting value-added tax refund (VAT refund) to foreign tourists signed a few years ago? That law was challenged and recently the Supreme Court of the Philippines upheld the constitutionality of Republic Act 12079 (the act creating a VAT refund mechanism for non-resident tourists), according to a news report by GMA News.

To put things in perspective, posted below is an excerpt from the report of GMA News. Some parts in boldface…

The Supreme Court (SC) has upheld the constitutionality of a law that grants value-added tax (VAT) refunds on select local purchases by non-resident foreign tourists.

In a 30-page decision, the SC En Banc dismissed a petition challenging the validity of Republic Act 12079, or an act creating a VAT refund mechanism for non-resident tourists, adding Section 112-A to the National Internal Revenue Code.

“Granting VAT refund to foreign tourists was not arbitrarily done. It is a policy decision based on legitimate state interests, i.e. the need to remain competitive as a global tourist destination,” the SC said.

“In fine, foreign tourists may be granted privileges and benefits that are not extended to Filipino citizens, so as long as these distinctions are based on reasonable and justifiable classifications, as in here,” it added.

According to the SC, the VAT refund applies to goods brought from duly accredited stores and taken out of the country within 60 days from purchase. The goods must be priced at least P3,000 per transaction.

Meanwhile, the SC said Section 5 of the law’s implementing rules and regulations limit the refund to retail and tangible goods, including clothing, apparel, electronics, gadgets, jewelry, accessories, souvenirs, food or non-food consumables, and other items intended for personal use.

The petitioner, however, argued that the law violates the constitutional guarantee of equal protection as it excludes Filipino citizens.

For its part, the SC said equal protection does not require identical treatment for all persons.

It said the act also distinguishes foreign tourists from Filipino citizens.

According to the SC, the VAT refund system follows the basic rule of VAT that goods are taxed where they are consumed. If the goods are consumed in the Philippines, they remain subject to Philippine VAT.

Meanwhile, the SC added that VAT refund for foreign tourists is a well-established international practice.

“The Philippines is among the last few countries in Asia to adopt such a system. Our Asian neighbors, Indonesia, Malaysia, Singapore, Thailand, Vietnam, China, and Japan have long implemented this VAT refund mechanism for foreign tourists,” it said.

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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BPI Customers Can Withdraw And Deposit Cash At Grocery, Convenience Stores And Other Commercial Joints

July 7, 2026July 2, 2026carlocarrasco

Customers of Bank of the Philippine Islands (BPI) are able to withdraw and deposit cash at grocery, convenience stores and other commercial joints thanks to the a newly launched campaign between the bank and over a thousand partner stores, according to a news report by GMA News.

To put things in perspective, posted below is an excerpt from the report of GMA News. Some parts in boldface…

The Bank of the Philippine Islands (BPI) on Wednesday launched its “Himala” campaign, allowing customers to withdraw and deposit cash at 1,369 partner stores, including grocery and convenience stores.

The service effectively turns participating outlets into “mini BPI branches,” enabling customers to complete cash transactions without visiting a physical bank branch.

The partner network includes Robinsons Retail Holdings Inc. (RRHI) stores such as Robinsons Easymart, Robinsons Supermarket, Shopwise, The Marketplace, Robinsons Department Store, Toys “R” Us, and Uncle John’s.

The service is also available at non-RRHI outlets, including Amesco, Fitmart GenSan, CVM Pawnshop, Falcor Marketing, Prince Retail, Prince Warehouse, Rodamel Drugstore, Savers Depot, Tacurong Fit Mart Inc., and Tambunting Pawnshop.

Customers can generate a barcode through the BPI app for cash deposits and withdrawals, then present it at any participating store for processing. They may also send the barcode to another person, who can use it to deposit or withdraw cash at a partner outlet.

Customers may deposit or withdraw a minimum of P100 through the partner network. Deposits are limited to P10,000 per barcode and P50,000 per day, while withdrawals are capped at P10,000.

Select services, including account opening and applications for BPI products, are also available through the bank’s network of 8,000 retail partners, which includes pharmacies and gas stations nationwide.

According to BPI Agency Banking head Rally Jereza, the Ayala-led lender is in talks to onboard more partner stores, with the goal of expanding the network to 10,000 outlets within the year.

“For now, I’m satisfied with 8,000 because we want to encourage people to use [the service]. But in terms of expanding, with existing BPI clients, corporate clients… it’s easy to expand. Right now, we just want to be able to maximize all of those footprints,” he said.

Jereza said the initiative also supports BPI’s “May BPI Dito” campaign, which aims to make the bank’s services available in as many locations as possible.

“What began in 2023 as product application points has evolved into a fully integrated banking ecosystem. Every phase—from enabling transactions on tablets to barcode withdrawals and now barcode deposits—was built to ensure safety, simplicity, and trust,” he said.

“This is not just expansion; it is a redefinition of what a bank can be in the digital age,” he added.

BPI said it has onboarded more than one million new-to-bank customers through its agency banking network and aims to increase the figure to 10 million.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a BPI customer, have you experience the convenience of doing important transactions at the grocery or at the convenience store lately?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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New Philippines Domestic Tourism Program Launched With Over 3,000 Travel Deals

July 4, 2026July 2, 2026carlocarrasco

In what is clearly a serious attempt by the Department of Tourism (DOT) to boost domestic tourism a lot, the new program Discover More To Love was recently launched with more than three thousand travel deals from varied hotels, tour operators and airlines, according to a news report by the Manila Standard.

To put things in perspective, posted below is an excerpt from the report of the Manila Standard. Some parts in boldface…

The Department of Tourism (DOT) launched a new campaign offering more than 3,000 travel deals from hotels, tour operators, and airlines to boost domestic travel during off-peak months and support local businesses.

The campaign, named “Discover More to Love,” runs from July to November 2026 to stimulate year-round travel, sustain bookings, preserve jobs, and strengthen local economies during the industry’s traditional lean period.

The initiative serves as an extension of the country’s official tourism brand, “Love the Philippines,” rather than a replacement.

Travelers can access discounts of up to 70 percent from more than 70 hotels and resorts through the Hotels Sales and Marketing Association. The campaign also features more than 250 nationwide travel packages alongside discounted fares from carriers Philippine Airlines, Cebu Pacific, AirAsia Philippines, and Sunlight Air.

Online platforms AirAsia MOVE and Klook are providing exclusive deals, while Mastercard offers special payment privileges for cardholders. Travelers can access the promotional room packages, staycation deals, dining credits, and flexible booking options directly through the department’s enhanced website at http://www.tourism.gov.ph.

Tourism Secretary Dita Angara-Mathay said the agency wants to evolve the initiative through feedback from travelers and industry partners.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you support the DOT’s renewed focus on domestic tourism?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines At Risk Of Losing Ground In Global Supply Chain

July 4, 2026June 29, 2026carlocarrasco

If the Philippines fails to address the high costs of energy and the ongoing corruption connected with infrastructure projects, it could lose ground in global supply chains, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the report of BusinessWorld. Some parts in boldface…

THE PHILIPPINES risks losing ground in global supply chains unless it addresses high energy costs and unresolved corruption issues surrounding infrastructure projects, which continue to weigh on investor sentiment, according to UK-based risk intelligence firm Verisk Maplecroft.

“The Philippines’ biggest infrastructure challenge is its relatively high cost of energy, which has been exacerbated by the Hormuz crisis,” Laura Schwartz, a senior Asia analyst at Verisk Maplecroft, said in an e-mailed reply to BusinessWorld.

“Following the onset of the crisis, there was some movement in fast-tracking renewable energy projects, but more will be needed,” she added.

The Philippines, which sources at least 90% of its oil supply from the Middle East, has been one of the most affected by the global oil crisis.

Ms. Schwartz also said last year’s corruption scandal — which linked state officials and contractors in substandard or nonexistent flood control projects — may deter companies that are seeking to diversify their supply chains from investing in the Philippines.

“High-profile governance issues, particularly the widespread public works corruption allegations and political jockeying, are one of the top factors leading to investor hesitation in the near term,” she said.

In its 2026 Supply Chain Risk Outlook, Verisk Maplecroft identified the Philippines, Thailand, Argentina, Chile, and Uruguay as “rising stars” in the global supply chain.

“Relative to the established hubs, these ‘rising stars’ offer different mixes of sector capability, market openness, regulatory strengths, and labor-risk trajectories for organizations looking to realign their supply chains,” it said in the report released on June 23.

“The businesses that move first — screening these markets now, building supplier relationships before demand spikes, and stress-testing entry strategies against external risk data — will find themselves better positioned to act when faced with disruptive geopolitical realignment, trade restrictions, or conflict outbreaks,” Verisk Maplecroft said.

A third of the world’s busiest ports and airports are vulnerable to disruption amid ongoing geopolitical conflicts, environmental challenges, and domestic security threats, the firm noted.

The closing of the Strait of Hormuz has created near-term headwinds for the Philippines and Thailand, Verisk Maplecroft said.

Despite this, “procurement teams willing to take a longer-term view will find these markets worth their attention,” the company added.

The report cited the Philippines’ strong potential in the global supply chain due to improvements in its market openness, its competitive labor costs, and its young, English-fluent workforce.

“The Philippines performs second-best across the Southeast Asian economies analyzed due to significant improvement in our market openness pillar,” it said.

“Despite lower infrastructure quality and governance challenges, including recent corruption scandals, the Philippines shows notable opportunities in sectors like electronics, auto parts, and food manufacturing,” Verisk Maplecroft said.

Other Southeast Asian economies assessed in the report were Singapore, Cambodia, Indonesia, Malaysia, Vietnam, Thailand, and Myanmar.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines has the will to resolve high energy costs and the ongoing corruption on infrastructure projects? Do you think the Philippines could get more affordable oil from places other than the Middle East?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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ANZ Research Slashes Philippines Economic Growth Forecasts

July 1, 2026June 24, 2026carlocarrasco

It seems that economic disappointment lack of breakthroughs will keep hounding the Philippines in the short term as ANZ Research slashed its economic growth forecasts for 2026 and 2027, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the report of BusinessWorld. Some parts in boldface…

THE PHILIPPINE ECONOMY could see its weakest post-pandemic growth this year as last year’s corruption controversies continue to weigh on confidence, compounded by accelerating inflation and rising interest rates amid the Middle East conflict, ANZ Research said.

In its latest outlook for the third quarter, the New Zealand-based think tank slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.9% from 4.7%.

It likewise cut its growth outlook for 2027 to 5% from 5.6% previously.

“The Philippines’ outlook is more constrained by weak household and business confidence, elevated inflation, and higher interest rates,” ANZ Research Chief Economist for Southeast Asia and India Sanjay Mathur said on Tuesday.

Economy, Planning, and Development Secretary Arsenio M. Balisacan said on Monday that the economy may grow by 3.5-4.5% this year, due to underspending and the fallout from the US-Iran war.

ANZ’s projections are below the government’s original targets of 5-6% for this year and 5.5%-6.5% next year. The Development Budget Coordination Committee has yet to release revised macroeconomic assumptions.

For 2028, ANZ sees the Philippine economy expanding by 5.5%, still below the government’s 6%-7% goal for the year.

Mr. Mathur noted that the weaker outlook also reflects expectations that lingering governance issues from last year’s flood control mess will prevent any significant rebound in public spending.

“Public spending likely bottomed in (the first quarter of) 2026, but a material recovery is unlikely until governance issues surrounding infrastructure projects are fully resolved,” he said.

In the first quarter, government spending grew by 3.22% year on year to P1.491 trillion from P1.444 trillion. It slightly improved at end-April after rising by 5.12% to P1.996.2 trillion from P1.899 trillion a year ago.

In late 2025, a flood control corruption scandal involving Public Works officials, private contractors and lawmakers took a major toll on public and business sentiment and dampened investments and government spending. This dragged the economy to its weakest growth since the COVID-19 pandemic at 4.4% last year from 5.7% in 2024.

“The Philippines stands out with negligible fiscal support, reflecting tight fiscal constraints and legal rigidities in fuel and utility pricing,” Mr. Mathur said.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the national economy will not achieve 6% growth rate during the final years of the Marcos administration? Do you think the administration’s hosting of the ASEAN Summit and participation in a big meeting with Vladimir Putin in Russia will not result in economic breakthroughs for the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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S&P Global Slashes Philippines GDP Growth Forecast

June 29, 2026June 24, 2026carlocarrasco

In its latest analysis and assessment, S&P Global predicts weaker gross domestic product (GDP) growth for the Philippines at 4.1% this year, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the report of BusinessWorld. Some parts in boldface…

The economic drag from the Middle East-war driven oil shocks and last year’s flood control mess fallout could slow the Philippines’ growth to 4.1% this year, S&P Global said.

In its latest economic outlook for Asia-Pacific, the debt watcher cut its gross domestic product (GDP) growth forecast for the Philippines to 4.1% for this year, from 5.8% previously.

S&P Global Asia-Pacific Chief Economist Louis Kuijs and Senior Economist Vishrut Rana noted that the Philippines emerged as a laggard in the region, which was largely resilient at the start of the year.

“Asia-Pacific economic growth largely held up in early 2026. In the first quarter, GDP growth met or exceeded expectations in most economies, with generally solid contributions from both exports and domestic demand,” Mr. Kujis and Mr. Rana said.

“However, growth significantly lagged expectations in the Philippines, where the energy shock combines with a sharp reduction in public infrastructure spending related to misutilization of funds,” they added.

In the first quarter, the economy unexpectedly grew by 2.8%, its weakest growth since the COVID-19 pandemic, due to spiraling oil prices and the lingering effects of last year’s corruption scandal.

The S&P economists noted that countries in the Asia-Pacific, including the Philippines, are heavily reliant on oil imports from the Middle East, which made them vulnerable to disruptions in the region’s key energy facilities and the Strait of Hormuz.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government has any plans to stimulate economic growth? Do you see the GDP of the Philippines growing at a slower rate over the next several quarters? Do you think the economic managers of the current administration should be replaced?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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World Bank Sees Below-Target Philippine Economic Growth In 2028

June 18, 2026June 15, 2026carlocarrasco

In its latest analysis of the economy of the Philippines, the World Bank (WB) predicts a below-target economic growth will happen in 2028, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE WORLD BANK said the Philippine economy is likely to expand by 5.6% in 2028, still below the government’s 6-7% target, amid an expected recovery in public investment.

In the latest Global Economic Prospects report, the World Bank said it retained its gross domestic product (GDP) growth forecasts for the Philippines at 3.7% in 2026 and 5.6% in 2027.

If realized, growth would fall short of the government’s 5-6% target for 2026 but would be at the lower end of its 5.5-6.5% goal for 2027.

“Growth in East Asia and the Pacific excluding China is forecast to improve to 4.9% in 2027-28 as geopolitical uncertainty dissipates, energy prices settle, and demand improves,” the World Bank said.

“Public investment is expected to recuperate in the Philippines, and Indonesia’s growth will be supported by state-led investment initiatives,” it added.

The Philippine economy expanded by a weaker-than-expected 2.8% in the first quarter, the slowest pace since the pandemic, amid lingering uncertainty from last year’s corruption scandal and higher oil prices linked to the Middle East conflict.

“The World Bank’s outlook is plausible, but I would not treat it as the only reasonable scenario,” Ateneo Center for Economic Research and Development Senior Research Fellow Ser Percival K. Peña-Reyes told BusinessWorld.

He said the weak 2026 forecast reflects uncertain global conditions, elevated geopolitical and trade tensions, fiscal consolidation, weather-related disruptions, and food price shocks.

However, Mr. Peña-Reyes said economic expansion this year could be stronger if household consumption remains resilient, inflation continues to ease, infrastructure spending is sustained, investment reforms gain traction, and monetary policy becomes more accommodative.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will keep on growing below the targets set by the government? Could it be possible that an economic recession can still happen in the Philippines in 2028?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Tourism’s Contribution To Philippines GDP The Lowest In 3 Years

June 7, 2026June 2, 2026carlocarrasco

Given the fact that the Philippines has been having trouble attracting foreign tourists and their money, it has been confirmed that the tourism industry’s contribution to the national economy in 2025 fell down to a 3-year low, according to a news report by BusinessWorld. For insight, the Philippines attracted 5.94 million foreign tourists in 2025 while Indonesia attracted 15.39 million, Vietnam attracted a record-high 21.2 million and Thailand attracted almost 33 million.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

THE TOURISM industry’s contribution to the Philippine economy fell to its lowest level in three years in 2025, weighed down by weaker tourism spending by foreign visitors, according to data from the statistics agency.

Preliminary data from the Philippine Statistics Authority (PSA) showed tourism’s direct gross value added (TDGVA) accounted for 8.1% of the gross domestic product (GDP) in 2025, down from 8.7% of GDP in 2024.

This was tourism’s lowest contribution to the national output in at least three years or since 2022 when it contributed 6.3% to the country’s GDP.

The country’s TDGVA was estimated at P2.27 trillion last year, down by 1.4% from the revised P2.3 trillion in 2024.

The TDGVA measures the value generated from various tourism-related activities and is based on the results of the Philippine Tourism Satellite Accounts report, which the PSA compiles from the Department of Tourism.

Tourism Congress of the Philippines President James M. Montenegro said the drop reflected external pressures, structural constraints and a weaker recovery in international tourism relative to the rest of the Philippine economy.

“While domestic tourism remained resilient, inbound tourism weakened significantly in 2025, which pulled down overall tourism value creation,” Mr. Montenegro said in a Viber message.

He said a major factor was the slower-than-expected recovery of inbound tourism from key Asian markets such as China and India even after the Philippine government eased visa requirement for Chinese and Indian nationals.

Mr. Montenegro said another challenge is the Philippine tourism industry’s ability to remain competitive in attracting foreign tourists. He said the Philippines should prioritize making key destinations more accessible to major regional markets.

“Many neighboring countries accelerated aggressive tourism recovery programs, including visa-free access, expanded airline incentives, stronger destination marketing, and airport infrastructure improvements. The Philippines continued to face challenges in air connectivity, airport capacity, inter-island transport efficiency, and tourist friction points,” Mr. Montenegro said.

He said that while the Philippines’ tourism sector has one of the highest contributions to GDP in Southeast Asia, it continues to lag behind regional peers in attracting tourists.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that the Philippines remained weak on attracting foreign tourists even though some reforms were implemented? Do you think the local tourism authorities should focus more on domestic tourism which itself remains strong and growing? What are the biggest hassles that tourists experience here in the Philippines when it comes to traveling by air, sea and land today?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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