economics – Page 49 – Author Carlo Carrasco

Almost 30,000 arrived in the Philippines on Christmas Day

December 28, 2022December 27, 2022carlocarrasco

With several COVID-19 pandemic restrictions already lifted, Christmas season travel here in the Philippines really turned out heavy and this is a dramatic change compared to what happened in late-2020 and late-2021. On December 25, 2022, almost 30,000 people from overseas arrived here in the Philippines, according to a news article published by the Philippine News Agency (PNA).

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

Over 29,000 travelers, including Filipino passengers, arrived in the country on Christmas Day to spend the holidays with their families, the Bureau of Immigration (BI) said on Monday.

Dana Krizia Sandoval said the figure was much higher than in previous years when the coronavirus disease 2019 (Covid-19) pandemic was at its peak.

“The arrivals on December 25, were at 29,968 individuals…For departures, a total of 27,934 people on Christmas Day,” she said at the Laging Handa briefing.

“And this is significantly higher than the last two years. Because if you remember, the last two years the holiday seasons were a bit sad because almost no one traveled due to the travel restrictions imposed worldwide due to the pandemic. Now, we are seeing again, many countries are opening up again, including us here in the Philippines. So we can see enthusiasm and joy again in our airports,” she added.

Sandoval said they expect the number to increase for the remaining days of 2022.

“Well, our projection is all the way until New Year, our arrivals are quite high because our countrymen and their families are returning home to celebrate Christmas and New Year,” she said.

She noted that the number of departures are expected to rise in the early part of 2023.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you think the increased number of arrivals from abroad will positively impact the nation’s tourism and economy? What particular businesses do you think will benefit the most from the high number of arrivals from overseas this Christmas season?

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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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco/.

BIR confirms lower income tax rates for individual taxpayers effective on January 1, 2023

December 27, 2022December 24, 2022carlocarrasco

For those of you living and working here in the Philippines, be aware that starting January 1, 2023, lower tax rates will charged on individual taxpayers as confirmed by the Bureau of Internal Revenue (BIR), according to a recent GMA Network news report. Now is a good time to approach a certified expert on taxation if you want to see how this upcoming development will affect you.

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

Individual taxpayers will be charged lower tax rates starting next year, the Bureau of Internal Revenue (BIR) said Friday.

Individuals earning purely compensation income, including non-business/non-profession related income and sole proprietors, “can look forward to a higher take-home pay in 2023,” according to the BIR.

The taxman said the lower income tax rate is pursuant to Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which took effect on January 1, 2018.

Starting January 1, 2023, those with annual taxable income below P250,000.00 are still exempt from paying personal income tax, while the rest of taxpayers, except those with taxable income of more than P8 million, will have lower tax rates ranging from 15% to 30% by 2023.

To maintain progressivity, the BIR imposed a 35% tax rate on top individual taxpayers with annual taxable incomes exceeding P8 million, up from 32% previously.

The income tax on the individual’s taxable income shall be computed based on the following schedules, effective January 1, 2023, and onwards:

*The taxation reference from GMA’s news report.*

Compared to the income tax rates imposed during the initial implementation of the TRAIN Law in 2018, the new annual income tax rates for individuals significantly decreased by 5% for those with taxable income of more than P250,000.00 up to P2,000,000.00, while a 2% decrease in tax rate was noted for those with taxable income of more than P2,000,000.00 up to P8,000,000.00.

The above article ended stating that employers must use the revised withholding tax table to calculate the withholding taxes on their employees’ compensation income taking effect on January 1, 2023.

Let me end this piece by asking you readers: What is your reaction to this new development? When was the last time you consulted with a tax expert for insight about your income tax returns? Do you think this new development will boost the national economy as a whole somehow in 2023?

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 aiming to attract 4.8 million foreign visitors and generate $5.8 billion tourism revenue in 2023

December 22, 2022December 20, 2022carlocarrasco

With the economic recovery from COVID-19 still continuing and the year coming to an end, the Department of Tourism (DOT) revealed its targets for foreign visitors and tourism revenue in 2023, according to a report by the Philippine News Agency (PNA). For the newcomers reading this, President Ferdinand “Bongbong” Marcos, Jr., declared already that it is time for the to return to pre-pandemic life and having a strong tourism sector is a crucial part of the post-pandemic strategy. It has also been several months since the Philippines opened its borders to

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

The Philippines eyes to double its tourism revenues and reach at least 4.8 million in foreign visitor arrivals in 2023.

Department of Tourism Secretary Christina Frasco Friday revealed the projections as she presented the efforts of the agency to expedite tourism’s recovery.

Frasco said DOT seeks to attract 4.8 million visitors and generate at least USD5.8 billion in revenue.

Latest data showed that the Philippines has already breached its 1.7 million arrivals target for 2022, hitting over 2.46 million tourists and PHP149 billion in receipts.

With the administration’s focus on tourism and the various measures implemented to ease travel, Frasco is optimistic Manila could even surpass the pre-pandemic tourism figures before 2025.

DOT’s initial forecast indicated that Manila will not reach more than 8 million tourists until after 2025, a projection Frasco described as “alarming”.

“[T]o me, that was an alarming projection in a sense that 2025 is so far off for us to obtain our pre-pandemic levels until after 2025 and that really forced us to take an inward look as to how we can expedite the recovery,” she told reporters.

“Having set out policies under the Marcos administration, precisely to serve the more aggressive approach towards tourism recovery, we’re seeing now that we have been able to breach the previous projection as well as the high projection (for this year),” she added.

Aside from constructing rest areas and improving connectivity for inbound tourists, Frasco presented more initiatives DOT sets to undertake in the next few months.

These include showcasing the country as a top cruise destination by 2023, coordinating with the relevant office to ease visa processing, and strengthening the promotion of Mindanao — especially for halal tourism.

Frasco also said DOT and the Department of National Defense are soon to sign a Memorandum of Agreement to obtain necessary data to determine the “most ideal areas to begin the process of reopening Mindanao.”

Let me end this piece by asking you readers: What is your reaction to this recent development about the Philippines and its tourism plans for 2023? Do you think it is doable for the Philippines to attract 4.8 million foreign visitors by the end of 2023? What do you think the DOT should do when it comes to emphasizing tourism through conventions and special events? Do you think the DOT is doing enough with getting involved with sports tourism, medical tourism, food tourism, and the like?

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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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Integrated resort and casino in Las Piñas City announced

December 12, 2022December 9, 2022carlocarrasco

In the City of Las Piñas, an integrated resort and casino will be established as the project has been officially announced by business tycoon and former Philippine Senator Manny Villar, according to a Manila Standard news report. The project has the potential to make the city a hot spot for tourism, entertainment and gambling.

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

Billionaire Manuel Villar is betting on the recovery of the gaming business as he plans to start developing a $1-billion integrated resort and casino in Las Pinas City next year.

Villar said in an interview with reporters he would convert Vista Mall Global South mall, which sits on a 80-hectare property, into a casino with hotels.

The group will initially develop nine hectares where the mall, which has 18,000 square meters of gross floor area, is located.

Villar said he was looking at the Las Vegas model where the casino would have other attractions like theme park, theatres, restaurants, retail, hotels, condotels and non-gaming components.

The group is now in talks with potential foreign partners for the venture, he said.

He said the planned casino would be adjacent to the international airport just like the four other integrated resort and casinos in the government-sponsored Entertainment City in Paranaque.

The casino industry was one of the hardest-hit sectors during the pandemic following the closure of international borders and the implement of quarantine restrictions. With the easing mobility this year, the gaming industry began to slowly recover, but has yet to get close to pre-pandemic levels as China, the country’s second top source market for tourists, continued to implement strict border controls because of its zero-Covid policy.

Villar said that aside from the casino, he is also bullish on the real estate sector, as his listed property Vista Land & Lifecapes Inc. is set to launch 41 projects next year. This would be an all-time high for the company in terms of project launches.

“We have not done this before. We have not launched this scale,” Villar said.

He said nearly all Vista Land’s businesses including retail, office and property development were back to pre-pandemic levels.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you think the planned integrated resort and casino will add significantly to the economy of the city? How many new jobs do you think the project will create for the city?

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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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Las Piñas City aims to improve local tourism

December 8, 2022December 6, 2022carlocarrasco

In Las Piñas City, the City Government announced that it will be ramping up its efforts to elevate local tourism and attract tourists (both local and foreign) according to a Manila Bulletin news report. For the newcomers reading this, the most popular tourist destination in the city is the Bamboo Organ which hosts an annual festival of music.

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

Las Piñas supervising tourism operation officer Paul San Miguel said the city government will improve the approach in promoting local tourism.

San Miguel said he took a two-day master class together with other tourism officers in the National Capital Region (NCR) at the Mariot Hotel Clark in Pampanga to have a better perspective of the tourism industry and their role toward recovery.

The Department of Tourism (DOT) called on the tourism officers association to attend the master class on Nov. 28 and 29 to help promote tourism now that the country is slowly recovering from the effects of the Covid-19 pandemic.

San Miguel said DOT-NCR Regional Director Sharlene Zabala-Batin initiated the gathering of NCR tourism association officers to give them additional ideas in promoting most visited tourist attractions in their respective areas that will help in the recovery of the economy.

Let me end this piece by asking you readers: If you are a Las Piñas City resident, what is your reaction to this new development? When it comes to local tourism, how many times per year do you get to visit the Bamboo Organ? What other sites within the city do you find worthy of being tourist attractions? Do you think Las Piñas City should host special events like fashion shows, comic conventions (Comic Con) and film festivals which could potentially attract tourists into the city?

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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I Love Israel: Israel shares to the Philippines water management solutions

November 29, 2022November 25, 2022carlocarrasco

In recent times, the State of Israel engaged with the Philippines on managing water which is clearly an essential resource, according to a Manila Times news article. Israel’s Ambassador to the Philippines Ilan Fluss spoke at the meeting.

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

ISRAEL is offering innovative solutions to help the Philippines improve water resource management and conservation.

Israel’s Agency for International Development Cooperation and the United States Agency for International Aid shared with the Philippine government and local water concessionaires in the Philippines the expertise and experience of Israel on water resource management.

“Israel invested in technology to support the growing demand and urbanization in the country,” said Israeli Ambassador to the Philippines Ilan Fluss during a recent seminar.

The technologies, he said, “were introduced together with good policies and regulations that made Israel the leading country in the world in managing the water sector.“

“From desalination to reuse of sewage, minimum loss of water and more,” the ambassador said.

“Through this seminar, we hope that the Philippines’ key implementing agencies will gain insights from the Israeli experience and adapt them to local conditions,” he added.

He noted that Israel faced challenges in water conservation and management. The Middle East is a dry area and more than 50 percent of “Israel is actually desert,” he said.

The Israeli Embassy in Manila said National Water Resources Board Director Susan Abano shared the challenges that the Philippines faces as water availability continues to fall due to rising demand.

The embassy said that engineers Rodel Rik Tumanda and Jon Michael Esteban of Maynilad and Manila Water, respectively, as well as Metropolitan Waterworks and Sewerage System chief regulator Patrick Ty presented their perspectives on managing water scarcity.

“These were analyzed by the Israeli water delegation and presented advanced solutions to better manage the water sector of the country,” the embassy said in a statement.

“The Israeli companies highlighted Israel’s innovation and technology to inspire and encourage the Philippine water sector, businesses and local government units to invest in technologies that will help manage water sustainably,” it added.

Among the Israeli companies who presented their water technologies were ARAD Group, Atlantium, Okiana and Watergen.

For the newcomers reading this, Israel is known for innovation not only with technology and agriculture but also in water management and the development of new sources of water. Constant problems of water supply and resource handling here in the Philippines are not new anymore and the assistance we got from Israel is crucial. This is something we have to be very thankful to our Lord for and we should pray that the Philippine water stakeholders who attended the reported meeting will put into action what they learned from their Israeli counterparts so that water management in the country will be improved.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel!

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment.

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New Regus workspace facility opening soon in Las Piñas City

November 24, 2022November 22, 2022carlocarrasco

If you are looking additional space for work in Las Piñas City, a new workspace center (coworking space) by Regus will soon be established inside the Colours Town Center along Alabang-Zapote Road (by the corner of Marcos Alvarez Avenue) as a result of an agreement signed, according to a BusinessWorld news report.

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

INTERNATIONAL Workspace Group (IWG) recently inked a 10-year management agreement with Kyleson, Inc. to open a Regus franchise center in Las Piñas City.

The flexible workspace center, located within the Colours Town Center, will have 195 workstations and 1,200 square meters (sq.m.) of co-working desks, meeting rooms, and private offices. This will be the 26th Regus center in the Philippines.

“Our partnership with Colours Town Center combines our more than 30 years track record in equipping workspaces with the infrastructure and support services with ideal, modern locations to ensure employees experience the benefits of working wherever is most convenient for them without sacrificing productivity, or the benefits of collaboration,” Lars Wittig, IWG country manager, said in a statement.

Mr. Wittig noted worker preferences across Asia Pacific are shifting in favor of hybrid working, and companies that fail to adopt may lose their best workers.

“Adopting flexible working arrangements is crucial to business sustainability and long-term resilience,” he added.

Let me end this piece by asking you readers: If you are a Las Piñas City resident, what is your reaction to this new development? Are you excited learning that a new Regus coworking facility will be opened within the city? Do you consider Las Piñas City to be lacking of suitable office work space?

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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President Marcos reaches out to France for strategic partnership on nuclear energy

November 23, 2022November 21, 2022carlocarrasco

As you should know by now, I personally favor the use of nuclear power as a key source of abundant energy for the entire Philippines (read my posts by clicking here and here). Nuclear power can produce very high amounts of energy required to power the economy and society and there is no way that solar and wind power could achieve that. Nuclear energy is the answer for the energy requirements of the Philippines and I am really glad that President Ferdinand “Bongbong” Marcos, Jr., reached out to French President Emmanuel Macron and specifically sought nuclear energy partnership during their high-level talk recently in Thailand, as reported by the Philippine Star.

To put things in perspective, posted below is the excerpt from the Philippine Star news article. Some parts in boldface…

President Ferdinand Marcos Jr. said he sought a partnership with France on nuclear energy during a bilateral meeting with French President Emmanuel Macron at the sidelines of the Asia-Pacific Economic Cooperation Summit in Thailand.

“I’m very confident that it will be a strong partnership simply because they have up to 67 percent of their power production is from nuclear energy so they are very, very used to it,” Marcos said, according to a release from Malacañang.

Marcos said he wanted to talk to Macron about energy because of France’s use of nuclear power, a controversial energy source that the Philippine president had long advocated for.

On the campaign trail, Marcos said the Philippines should look into reviving the 621-megawatt Bataan Nuclear Power Plant — a venture by his despot father and namesake which was mothballed in 1986 because of safety concerns.

During his first State of the Nation Address, Marcos reiterated his determination to adopt nuclear power, saying “it is time to re-examine our strategy towards building nuclear power plants.”

For some added insight into the Marcos-Macron meeting, watch the videos below…

In my honest opinion, it is high-time for the Philippines to move forward with enhancing the entire national power grid by using nuclear power. To invest tons of money on wind and solar power will only produce minimal new energy and the fact remains that the said two types of energy are unreliable. On the social aspect of nuclear energy, I encourage my fellow Filipinos reading this to stop being fearful about anything nuclear and pay close attention to the latest in nuclear power technology, specifically with small modular reactors (SMRs). Learn about them by clicking here and here.

Let me end this piece by asking you readers: What is your reaction to this recent development about the Philippines reaching out to France for a nuclear power partnership? Are you glad that President Marcos specifically sought partnership during his bilateral talk with the President of France?

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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What to watch on YouTube right now – Part 3

November 22, 2022November 24, 2022carlocarrasco

Have you been searching for something fun, enlightening or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you watch the following videos below…

#1 Worship videos of “O Praise The Name (Anástasis)” – I love the worship song O Praise The Name (Anástasis) written by Marty Sampson, Benjamin Hastings and Dean Ussher, and published by Hillsong Music. Its lyrics were clearly written to lead people to the Lord and to encourage them to worship Him. One of these days, I will do a Christian Music Appreciation (CMA) piece of the worship song. For those who are reading this, watch the worship videos below from Hillsong Worship, Hillsong United and Bethel Music. This could also be the worship song your local church could play on Sunday worship services.

#2 The history of Secret Wars – In the history of American superhero comics, the Secret Wars (full title: Marvel Super Heroes Secret Wars) series of 1984-1985 remains highly significant not just because it featured a unique gathering of selected superheroes and super villains of Marvel (then led by Jim Shooter as editor-in-chief) but also because of the creative impact it left behind especially with regards to Spider-Man stories and the eventual debut of his deadliest villain – Venom. Secret Wars also marked the debut of the Beyonder, a god-like entity who would impact the Marvel Comics universe later. Apart from its enduring legacy, there were also some notable things that happened behind the scenes leading to the publishing. Watch and learn from the video below.

#3 Ashleigh Burton’s reaction videos of Schwarzenegger movies – For this segment, we take a look at how Ashleigh Burton reacts to movies of the famous Arnold Schwarzenegger. She reacted to two Terminator flicks and Predator which are Schwarzenegger classic but she still has yet to do a Total Recall (1990) video. I urge you to visit her YouTube channel.

#4 Fashion versus videos – If you have not been following the videos published by SHIFT online, there are these versus-type of videos they released on their YouTube channel. Months ago, they published videos pitting popular models in key match-ups and they are posted below for your viewing pleasure.

#5 Looking back at Steven Spielberg’s Jurassic Park – Are you one of the many moviegoers out there who have gotten upset or tired with the way that Jurassic Park movies turned out, especially with the Jurassic World movies released since 2015? I noticed a lot of movie fans pointed to Jurassic World movies as dumb and bloated even as the filmmakers did what they could to sell dinosaurs and action sequences to entertain people. In times like these, it is refreshing to return to the original Jurassic Park movie of 1993 directed by Steven Spielberg. Watch the following movie reaction/review videos below plus a trivia video and an in-depth retrospective video.

#6 The FTX financial disaster – You heard the recent news about the major disaster of FTX that rocked the financial systems? Are you one of the many people who idolized Sam Bankman-Fried (SBF)? Did you pour your hard-earned money into the FTX cryptocurrency exchange and lost it all? Watch this video by Coldfusion to understand the details.

#7 The struggle of Starbucks Coffee in Vietnam and South Africa – Previously I posted a video about Starbucks’ own struggle in Australia whose coffee market has been highly developed long before the American coffee giant entered. There are also two notable markets where Starbucks also struggled in – Vietnam and South Africa. Watch the videos below to find out why. This is not only interesting but also educational.

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Kadiwa bazaar in Muntinlupa City nets over P530,000 in first two days

November 18, 2022November 17, 2022carlocarrasco

In the progressive city of Muntinlupa, the Kadiwa bazaar held at the quadrangle at City Hall generated over P530,000 in sales in the first two days, according to a Manila Bulletin news report. The said bazaar is a special project involving the City Government, the Department of Trade and Industry (DTI), the Department of Agriculture (DAR), and the Department of Social Welfare and Development (DSWD).

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

The two-day Kadiwa Christmas bazaar at the Muntinlupa City hall quadrangle generated nearly P536,000 in sales to sellers.

The Kadiwa bazaar, an initiative of the Department of Agriculture in partnership with the Muntinlupa City government, Department of Trade and Industry, and Department of Social Welfare and Development, was held on Nov. 15 and 16.

Showcasing different Muntinlupa-made products, the Kadiwa bazaar was launched by Mayor Ruffy Biazon and DTI Asst. Sec. Dominic Tolentino on Nov. 15.

According to Biazon, “Gusto natin ma-promote ang produkto ng Lungsod ng Muntinlupa, dahil tayo ay proud (We want to promote Muntinlupa-made products because we are very proud of them).”

“Ang sagot sa kaunlaran ay nagkakaisang mamamayan (A united citizenry contributes to a progressive economy),” said Tolentino, a Muntinlupa resident.

On the first day, the bazaar generated P326,421 in sales and P209,223 on Nov. 16 for a total of P535,644 in two days.

Other officials at the launch of KADIWA were City Administrator Allan Cachuela, DA-ESO head Marilou Lobo, Alabang Central Market Administrator Randy Garcia, and Cristine Evangelista of DTI.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Do you want to see more bazaars in the city selling more Muntinlupa-made products? Are you more confident now to spend time in bazaars or shopping centers knowing that COVID-19 can be avoided? Are the recent news reports highlighting the Department of Health’s (DOH) recent statements about COVID-19 infections making you afraid to go out?

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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