Tag: Economy of the Philippines

Philippines attracts 5.45 million international visitors and generates P482.54 billion in revenue in 2023

Philippines attracts 5.45 million international visitors and generates P482.54 billion in revenue in 2023

carlocarrasco

The success of the Philippines attracting visitors from overseas and generating the related revenue in 2023 has finally been confirmed by the newly released numbers from the Department of Tourism (DOT): 5,450,557 international visitors and P482.54 billion (US$8.7 billion according to the foreign exchange rate of January 2, 2024) in tourism revenue, according to a Philippine News Agency (PNA) news article.

For the newcomers reading this, the final 2023 statistics exceeded the declared targets of 4.8 million international tourists and US$5.8 billion revenue. For further comparison, the Philippines attracted 2.65 million international arrivals and over P200 billion in revenue for the year 2022. To say the least, 2023 is undeniably a successful year for Philippine tourism and it seems that the controversial blunder behind the “Love the Philippines” tourism campaign did not lead to a massive failure (which the enemies and haters of President Ferdinand “Bongbong” Marcos, Jr., have been dreaming of).

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

The Philippines welcomed a total of 5,450,557 international visitors in 2023, well above the 4.8 million target arrivals the Department of Tourism (DOT) earlier set for the entire year.

Of this number, 91.80 percent or 5,003,475 are foreigners while the remaining are 447,082 overseas Filipinos.

From January to Dec. 31, 2023, the country also generated an estimated PHP482.54 billion in international tourism revenue, more than double the receipts it recorded in 2022.

“My deepest appreciation goes to every tourism stakeholder, collaborative partner, and passionate contributor who propelled our shared aspirations forward. Under President Ferdinand ‘Bongbong’ Marcos Jr.’s guiding vision and leadership, tourism has become a pivotal force driving our nation’s economic resurgence,” Tourism Secretary Christina Frasco said in a statement Tuesday.

“These numbers speak very well of the performance of the tourism industry under the Marcos Administration,” she added.

She said the DOT will continue its work to “realize the vision of this administration to make tourism a catalyst for economic growth and resurgence.”

More than a quarter or 1,439,336 of the arrivals came from South Korea, retaining its spot as the country’s main source of international visitors.

This was followed by the United States with 903,299 tourists (16.57 percent) visiting the country; Japan with 305,580 (5.61 percent); Australia with 266,551 (4.89 percent); and China with 263,836 (4.84 percent). Ranking sixth was Canada followed by Taiwan, the United Kingdom, Singapore, and Malaysia.

Frasco said the 2023 visitor receipts also show that the tourism industry is “recovering faster than expected.”

The country’s 2023 international tourism receipts grew by 124.87 percent compared with the PHP214.58 billion estimated visitor receipts from 2022.

Before the pandemic in 2019, the DOT recorded PHP482.15 billion in international tourism receipts.

In 2023, the DOT’s marketing arm the Tourism Promotions Board (TPB) generated PHP6.317 billion in total sales leads both from international and local business-to-business and promotional events.

While reintroducing Filipino destinations before the global tourism arena, the Philippines represented by Frasco last year was also elected Vice President of the 25th General Assembly of the United Nations World Tourism Organization (UNWTO), a prestigious global position last held by the country more than two decades ago.

She was also elected as chair of the Commission for East Asia and the Pacific, allowing the country to host the Joint Regional Meetings of the Committee for East Asia and the Pacific and South Asia in Cebu in 2024.

The Philippines in 2023 bagged at least 15 travel and tourism honors from prestigious award-giving bodies in diving, beach, cruise, culinary, retirement, and Muslim-friendly tourism, “a testament that the Philippines is indeed an emerging tourism powerhouse.”

“The extraordinary journey of Philippine tourism in 2023 saw the world express its love for the Philippines with our country’s rise to global prominence as the World’s Leading Beach and Dive Destination, and Asia’s Best Cruise Destination, among many other accolades,” Frasco said.

“The indomitable spirit of the Filipino has been globally acclaimed with the Philippines receiving the Global Tourism Resilience Award with our country seen as a benchmark for innovation amidst trials and challenges,” she added.

By 2024, the DOT targets 7.7 million international visitors, around 500,000 lower than the country’s pre-pandemic arrivals of 8.2 million.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines will be able to meet its declared 2024 target of 7.7 million international visitors and possibly generate between P600 billion to P700 billion in tourism revenue? Did anyone from the haters/critics of President Marcos and Secretary Frasco bother you to make you believe that Philippine tourism will fail because of the “Love the Philippines” campaign blunder that was so widely reported in the mainstream news media?

Going back to tourism, do you think the Philippines should have more international-level fashion shows, film festivals, worship conferences, food festivals, sports events and trade shows to make the nation more attractive to visitors from overseas?

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

+++++

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

Department of Tourism (DOT) chief Frasco vows to build more tourist rest areas (TRAs) nationwide

Department of Tourism (DOT) chief Frasco vows to build more tourist rest areas (TRAs) nationwide

carlocarrasco

As the Philippines succeeded in attracting a lot more foreign tourists this year compared to 2022, the Department of Tourism’s (DOT) chief Christina Frasco aims to strengthen the nation’s tourism industry by establishing more tourist rest areas (TRAs), according to a Philippine News Agency (PNA) news article.

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

Department of Tourism (DOT) Secretary Christina Frasco vowed on Monday to open more tourist rest areas (TRA) across the country to further boost the industry.

Frasco made the statement as she led the inauguration of TRA in Cebu province’s wildlife adventure capital.

In her speech, Frasco said the TRA in Cebu’s northern town of Carmen is the fourth in Cebu and 10th in the country and pledged to build 18 more of these facilities “all the way from Batanes to Tawi-Tawi.”

The opening of these TRAs would be realized through the partnership with the local government units (LGU) and private stakeholders.

Frasco said more mayors in Cebu have requested her mother, Cebu Governor Gwendolyn Garcia, to open the same facility in their respective areas, optimistic these would boost their local tourism efforts.

The Carmen TRA will be managed by the Cebu Zafari, a wildlife park that is home to over 1,000 animals of 120 species in a 170-hectare property.

“Gov. Gwen expanded the support beyond Cebu through her initiative to open TRAs in the sister province of Albay and Zamboanga-Sibugay,” she added.

Medellin, a sugarcane town also in Cebu north, is the first LGU in the Philippines to establish its own TRA. Other TRAs were inaugurated in Carcar City and Moalboal.

Like in three other facilities, the Carmen TRA offers various amenities, including a coffee shop, a pasalubong and souvenir store, a tourist information area, clean restrooms and free charging stations.

The souvenir shops not only sell local delicacies but also serve as a platform for Cebu’s micro, small and medium enterprises (MSMEs) to showcase their local products, providing them with additional livelihood opportunities and employment for the locals.

DOT-7 regional director Shahlimar Tamano said groundbreaking for TRAs in Bogo City, Dumanjug, Santander and Pinamungajan are in the pipeline.

“TRAs are precisely what we needed to promote tourism,” Garcia said in her remark during the inauguration ceremony at Carmen, citing complaints from local and foreign tourists that the Philippines lack restroom facilities for travelers.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think it makes sense for the DOT to establish more TRAs around the country to help the tourism industry? Do you think having more TRAs will be helpful in comforting tourists?    

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

+++++

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

Muntinlupa Mayor Biazon hopes Maynilad’s new water treatment plant in the city will solve water service interruptions

Muntinlupa Mayor Biazon hopes Maynilad’s new water treatment plant in the city will solve water service interruptions

carlocarrasco

Recently in the City of Muntinlupa, the newest water treatment plant (WTP) of water concessionaire Maynilad in Barangay Poblacion was formally inaugurated with the presence of President Ferdinand “Bongbong” Marcos, Jr., and Mayor Biazon expressed hope that the said plant will solve water service interruptions, according to a Manila Bulletin news report.

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

Muntinlupa Mayor Ruffy Biazon is hoping that Maynilad’s new water treatment plant in the city will solve water service interruptions that are being experienced by residents.

President Ferdinand “Bongbong” Marcos Jr.  led the inauguration  of Maynilad’s Poblacion Water Treatment Plant (WTP) in Muntinlupa on Dec. 15.

“We hope this new facility will help address challenges in water supply in Muntinlupa,” posted Biazon on Facebook.

Biazon joined the inauguration along with Muntinlupa Rep. Jaime Fresnedi, Poblacion Barangay Chairman Allen Ampaya, Environment Sec. Maria Antonia Yulo-Loyzaga, Metropolitan Waterworks and Sewerage System (MWSS) Administrator Leonor Cleofas, and Maynilad Chairman Manuel V. Pangilinan.

According to Maynilad, the Poblacion WTP has a capacity to produce 150 million liters of water per day.

Biazon said this December, the plant is expected to produce 50 million liters per day, and by the first half of 2024, it will go on full operations.

President Ferdinand “Bongbong” Marcos Jr. (PBBM) led today, December 15, 2023, the formal inauguration of Maynilad’s Poblacion Water Treatment Plant (WTP) in Muntinlupa City.

Maynilad said the new WTP cost P11 billion and it is the company’s third water treatment facility that gets raw water from the Laguna Lake.

It said the new plant will service about one million customers in Parañaque, Las Piñas, Muntinlupa, and Cavite.

“The additional water supply it produces will help to minimize service interruptions due to raw water quality shifts in Laguna Lake, which have been occurring with more frequency owing to the effects of climate change,” the company said in a press release.

It said the new treatment plant uses a multi-stage process of dissolved air flotation, cloth filter, biological aerated filter, ultrafiltration, reverse osmosis, and chlorination to ensure that the water from Laguna Lake passes the Philippine National Standards for Drinking Water (PNSDW) of the Department of Health.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you optimistic that the new WTP of Maynilad will at least reduce the number of water service interruptions?

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

+++++

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 at https://www.instagram.com/authorcarlocarrasco

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 Government fully supports parol makers

Las Piñas City Government fully supports parol makers

carlocarrasco

Recently in the City of Las Piñas, a group composed of makers of the parol (traditional Filipino Christmas lanterns) received full support from the City Government, according to a social media post of the local government’s Facebook page dated December 13, 2023.

To put things in perspective, posted below is an excerpt the City Government’s Facebook post. Some parts in boldface…

The Samahang Magpaparol ng Las Piñas, a group of traditional Filipino Christmas lantern makers, was warmly received by City Mayor Imelda Aguilar and Vice Mayor April Aguilar in City Hall on Tuesday, December 12th. This meeting underscored Las Piñas City’s reputation as the Parol Capital of Metro Manila, celebrating the city’s deep-rooted tradition in crafting these iconic symbols of Filipino Christmas.

Las Piñas City Mayor Imelda Aguilar with the parol makers group at City Hall. (photo source – Las Piñas City PIO)

In a table discussion, Mayor Imelda Aguilar expressed her profound appreciation for the parol makers’ dedication to their craft and assured their group of the city government’s full support. This promise marks a crucial step in safeguarding the art of parol making and promoting its continued relevance in the city’s cultural landscape. The parol makers, in response, extended their heartfelt thanks to Mayor Aguilar, appreciating the recognition and support for their craft, which is integral to the city’s identity and festive celebrations.

This meeting between the city officials and the parol makers reaffirms Las Piñas City’s commitment to its cultural roots and its preservation.

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 see the parol as the most important Christmas decoration ever? How many parols does your household have now? How much money did you spend on each parol you bought? Is ever parol in your household made in Las Piñas?

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

+++++

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 at https://www.instagram.com/authorcarlocarrasco

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

Philippines attracts 5 million foreign tourist arrivals, sets 2024 target at 7.7 million

Philippines attracts 5 million foreign tourist arrivals, sets 2024 target at 7.7 million

carlocarrasco

With a few more weeks to go before 2023 finally comes to an end, the Department of Tourism (DOT) confirmed that the number of foreign tourist arrivals in the Philippines just surpassed the 5,000,000 mark and they raised the stakes even higher for 2024, according to a Malaya Business Insight news report.

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

After breaching 5 million in tourist arrivals as of December 12, the Philippines hopes to attract 7.7 million tourists in 2024.

Christina Frasco, secretary of the Department of Tourism (DOT) in her accomplishment report yesterday, said  the Philippines has exceeded its 4.8 million goal when it logged 5.06 million visitors as of yesterday.

These tourists contributed  P440 billion in receipts  to the economy or more than double than the P209 billion recorded last year.

“In 2024, we are more than optimistic that we will once again reach our targets as we have proven in the past two years. For next year, we’re targeting 7.7 million international arrivals. I understand that this is not yet pre-pandemic numbers  of 2019 at over 8.2 million international arrivals, but what I can assure you is that we will push as hard as we can and fully activate our convergences with other government agencies  to reach this target and bring us closer to pre- pandemic numbers even as we grapple with many forces beyond our control globally and locally,” Frasco said.

Frasco also disclosed the DOT has proposed  P5 billion infusion for the construction of new tourism roads in addition to the construction of tourism roads for 2024.

Frasco said recovery rate on arrivals to pre-pandemic of Philippine tourism is at 65 percent as of November, faster than the 62 percent average rate in Asia-Pacific as of September.

She said in terms of international visitor receipts,  Philippine recovery is at 95 percent of the  P458 billion visitor receipts in 2019.

This is a 267 percent increase versus the same period last year with a little over 2.6 million visitor arrivals  in 2022. Tourism created over 5.35 million jobs which means that for every 100 Filipinos, 11 are employed in tourism related jobs.

According to Frasco, the Philippines has already recovered nearly 80 percent of its pre-COVID international incoming seat capacity.

Let me end this piece by asking you readers: What is your reaction to this recent development? Now that the Philippines has recorded more than 5 million foreign tourist arrivals, do you think there is still a chance for the figure to reach 6 million by December 31, 2023? Do you think the 2024 target of 7.7 million foreign tourist arrivals is achievable?   

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

+++++

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

Performance-based bonus (PBB) for Muntinlupa City Government employees confirmed

Performance-based bonus (PBB) for Muntinlupa City Government employees confirmed

carlocarrasco

Recently in the City of Muntinlupa, the City Government announced that its employees will get a performance-based bonus (PBB), according to a Manila Bulletin news report.

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

Officials and employees of the Muntinlupa City government will get a performance-based bonus (PBB) as an extra Christmas treat.

Majority Floor Leader Raul Corro announced on Dec. 11 that the Muntinlupa City Council passed a resolution on first reading granting the bonus for the fiscal year 2022.

The decision was made after the city government passed the four criteria that allowed it to grant the bonus: performance results, process results, financial results and citizen/client satisfaction result.

The grant of the PBB on Muntinlupa City government personnel was approved by the Department of the Interior and Local Government (DILG), which certified that “the City of Muntinlupa is included in the official list of local governments eligible to grant the FY 2022 Performance-Based Bonus to qualified local government officials and employees.”

Muntinlupa’s Local Finance Committee also approved a resolution recommending the release of the PBB to qualified personnel.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted that the City Government employees will receive the PBB just in time for Christmas?

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

+++++

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 at https://www.instagram.com/authorcarlocarrasco

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

NEDA projects 2023 Philippine economic growth at 6%

NEDA projects 2023 Philippine economic growth at 6%

carlocarrasco

As the 2023 is coming to an end, the National Economic and Development Authority (NEDA) expressed confidence that the economy of the Philippines will achieve 6% growth this year, according to a Philippine News Agency (PNA) news article.

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

The National Economic and Development Authority (NEDA) is positive the country will hit the low end of its economic growth target at 6 percent by the end of the year.

“For the year, ang expectation namin is we will hit the low end of the target. If not, close to it (our expectation is that we will hit the low end of the target. If not, close to it). The low end of the growth target is at 6 percent, so either a 6 or very close to that,” NEDA Undersecretary Rosemarie Edillon said at the Saturday News Forum in Quezon City.

The Philippine economy posted the strongest third-quarter growth of 5.9 percent among major Asian economies, bringing the gross domestic product (GDP) expansion for the first nine months of 2023 to 5.5 percent.

Vietnam recorded 5.3 percent, Indonesia and China 4.9 percent, and Malaysia 3.3 percent during the third quarter.

Looking at the Purchasing Manager’s Index (PMI) as one indicator, Edillon said she is optimistic the GDP forecast is achievable.

She also noted the October unemployment data, which fell to 4.2 percent from 4.5 percent during the same month last year.

“Nakita namin na maganda rin naman ang employment numbers natin at ‘yung PMI, nakita namin na mataas pa rin naman siya (We saw that the employment numbers and the PMI are high),” she said. “We are actually hopeful for the rest of the year but especially going forward.”

Edillon said they observed a rise in the number of jobs generated in accommodation establishments, restaurants, transportation, and the information technology – business process outsourcing fields.

She also pointed out the gradual recovery of sectors severely hit by the pandemic, especially the tourism industry, which already surpassed its targeted 4.8 million foreign visitors.

Before the pandemic, the tourism industry’s share in the country’s GDP was estimated at 12.7 percent.

Improved inflation

In the same forum, she took note of the improving inflation rate, which further eased to 4.1 percent in November from 4.9 percent in October.

Food inflation at the national level decelerated further to 5.8 percent in November 2023 from 7.1 percent the previous month.

“(M)agandang balita ito kasi, especially iyong mga food item na binabantayan natin — kunwari iyong pork meat, iyong sugar, iyong mga vegetables — bumaba po iyong presyo nitong mga ito (This is good news, especially with regard to the food items that we are monitoring – the prices of pork meat, sugar, and vegetable went down),” she said.

Edillon said the cost of rice still rose but this could be attributed to the slowdown in importation due to tightening supply in the world market.

“Iyong sa ibang mga bansa, nag-i-expect kasi sila ng impact ng El Niño. Pero ang tingin naman namin, dahil we think that they have been prepared for this so mukhang it will correct actually (Other countries are bracing for the impact of El Niño. But we think because they’re already prepared for it, it will be corrected eventually),” she said.

Still, she said she believes the price cap imposed by President Ferdinand R. Marcos Jr. in September contributed to the lower inflation rate.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you convinced that the Philippines will be able to achieve 5  

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

+++++

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

Philippine inflation eases to 4.1% in November 2023

Philippine inflation eases to 4.1% in November 2023

carlocarrasco

Inflation here in the Philippines continued to drop and eventually landed at 4.1% for the month of November 2023 and there were several factors behind it, according to a Philippine News Agency (PNA) news report.

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

The country’s headline inflation further eased to 4.1 percent in November this year, the lowest recorded since the 4 percent in March 2022, the Philippine Statistics Authority (PSA) said.

In a briefing on Tuesday, National Statistician Dennis Mapa said the headline inflation last month was significantly lower than the 8 percent recorded in November last year and the 4.9 percent seen in October this year.

Core inflation, which excludes volatile oil and food items, also decelerated to 4.7 percent from 5.3 percent in October.

PSA data shows the downtrend was primarily brought about by the lower year-on-year growth rate of the heavily-weighted food and non-alcoholic beverages at 5.7 percent in November 2023 from 7 percent in October 2023.

Food inflation slowed to 5.8 percent, the lowest recorded since the 5.2 percent in May 2022.

This is due to the deflation in vegetables (-2 percent from 11.9 percent) and lower inflation of fish, meat, sugar, bread and other cereals, and fruits.

Also contributing to the downtrend in the overall inflation in November was the deflation in transportation (-0.8 percent from 1 percent) and slower inflation in restaurant and accommodation services (5.6 percent from 6.3 percent).

The restaurants and accommodation services index with a slower inflation rate of 5.6 percent in November from 6.3 percent in the previous month also contributed to the downtrend of the overall inflation.

Year-to-date, headline inflation was at 6.2 percent while core inflation settled at 6.8 percent.

Inflation in the National Capital Region (NCR) also slowed to 4.3 percent from 4.9 percent in October. For areas outside NCR, headline inflation decelerated to 4.1 percent in November from 4.9 percent the previous month. Inflation for the bottom 30 percent households also eased to 4.9 percent from 5.3 percent.

In a separate statement, the National Economic and Development Authority (NEDA) attributed the drop in inflation to the timely implementation of strategies to stabilize food supply amid the anticipated domestic and external headwinds in the coming months.

“With the right interventions in place, including the proper and timely deployment of trade policy, we are confident that we can effectively manage inflation and prevent unnecessary upticks in prices of goods and commodities to safeguard the purchasing power of Filipino families, especially those from the most vulnerable sectors,” NEDA Secretary Arsenio Balisacan said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think inflation will ease further and go below 4% by January 2024? Does the easing of inflation make you more confident about your economic prospects for 2024?  

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

+++++

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

World Bank sees strong economic growth for the Philippines this year and in 2024

World Bank sees strong economic growth for the Philippines this year and in 2024

carlocarrasco

Recently the World Bank announced that the economy of the Philippines will continue to grow strongly this year and next year, according to a Philippine News Agency (PNA) news report.

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

The World Bank on Tuesday said the Philippine economy is expected to continue to post strong growth but fully implementing key reforms to boost investments is crucial to sustain growth.

“We anticipate that the Philippine economy will continue to exhibit strong performance in the next few years,” World Bank country director for Brunei, Malaysia, the Philippines and Thailand Ndiame Diop said in briefing for the presentation of the Philippines Economic Update (PEU) December 2023 edition.

“This growth will be propelled by a healthy labor market and declining inflation, which will stimulate robust household consumption,” he said.

For this year, the World Bank expects the Philippine economy to grow by 5.6 percent and edge up to 5.8 percent in 2024.

The services sector is anticipated to be the main growth driver supported by the ongoing recovery of the tourism sector and the consistent performance of the information technology and business process outsourcing industry.

“We expect that the full implementation of several investment reforms will enhance the country’s competitiveness to attract foreign investment, strengthening the country’s global growth prospects,” said Diop.

The Philippine economy grew by 5.9 percent in the third quarter of the year, bringing the year-to-date economic expansion to 5.5 percent.

“Despite the challenging global environment that resulted in a slowdown for many countries in the region, the Philippines stands out as among the top performers,” Diop added.

He said this can be attributed to the country’s resilient domestic demand which helped mitigate the impact of external headwinds.

Inflation, meanwhile, is forecast to settle at 5.9 percent this year and ease to 3.6 percent in 2024.

Policy recommendations – Diop pointed out that moving forward, full implementation of key forms is needed to mitigate the impact of high inflation amid volatility in global commodity prices and high cost of borrowings to stimulate private investment, promote job creation and reduce poverty.

These include the amendments to the Public Services Act, Retail Trade Liberalization Act, the Foreign Investment Act and amendments to the implementing rules and regulations of the Renewable Energy Act allowing foreign ownership of renewable energy projects.

World Bank senior economist Ralph Van Doorn said that in the short term, domestic policy priorities include containing elevated inflation and providing assistance to vulnerable sectors.

Van Doorn said enhancing forecasting and planning to help stabilize food prices, reducing market volatility and ensuring a consistent and reliable food supply remains fundamental to reducing inflation in the short term.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the World Bank is correct with its findings about the economy of 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.

+++++

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

The pending resurgence of sex tourism in the Philippines is a major concern for the BI

The pending resurgence of sex tourism in the Philippines is a major concern for the BI

carlocarrasco

While the Philippines continues to attract more tourists from around the world (read the related post), the Bureau of Immigration (BI) is concerned about the pending resurgence of sex tourism in the country, according to a Manila Times news report. Already there have been reports of sex offenders from abroad who were intercepted by the local authorities.

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

 THE Bureau of Immigration (BI) has expressed alarm over the likely resurgence of sex tourism in the country as indicated by the frequent arrival and interception of foreign sex offenders (FSO) at the Ninoy Aquino International Airport (NAIA) and other major ports of entry.

Immigration Commissioner Norman Tansingco said on Sunday that entry attempts by sex offenders into the country have become almost a “daily trend” and are not limited to the national capital Manila, but are also in provincial airports such as Cebu.

Tansingco also said that some unscrupulous groups or individuals could be promoting sex tourism, the practice of traveling to foreign countries with the intention of engaging in sexual activity in exchange for money.

“We will not allow that to happen. We are duty-bound to implement a provision in our immigration act that prohibits the entry of aliens convicted of crimes involving moral turpitude. We will not allow the entry of these undesirable aliens to pose a threat to our women and children,” Tansingco said.

He attributed the possible resurgence of sex tourism to the reopening of the country’s border after the pandemic.

“During the pandemic, there was an increase in online exploitation of women and children. When international travel resumed, the number of FSOs rose, which could show that the exploitation is being continued,” he said. “With the return of tourism, foreigners who intend to abuse our hospitality seem to be returning.”

“We warn these predators not to attempt to enter the country, as we have close coordination with different governments, who provide us information about sex offenders that might attempt to enter the Philippines,” he said.

Under the Philippine Immigration Act of 1940, those who have been convicted of a crime involving moral turpitude, which includes sex offenders, are ineligible to enter the country.

The Philippines is regarded as among the top 10 sex tourism destinations in the world. Others on the list are Germany, the Netherlands, Columbia, Thailand, the Dominican Republic, Spain, Kenya and Brazil.

Just over the weekend, BI frontline officers intercepted two more FSOs, identified as Mark David Scanlon and Richard Stuard Patterson, both Americans convicted of sexually molesting minors in the US. They arrived via separate flights at the international airports in Cebu and Manila.

Scanlon, 53, was intercepted after arriving aboard an Eva Air flight from Taiwan at the Mactan-Cebu International Airport (MCIA), while Patterson, 33, was turned back upon arriving from Los Angeles via a Philippine Airlines flight at the NAIA 1 terminal.

Both passengers were sent back to their ports of origin hours after they were denied entry.

Information obtained by the BI revealed that in 2012, a court in Cook County, Illinois, convicted Scanlon on the charge of indecently soliciting a child over the internet.

On the other hand, Patterson was convicted in Oregon in May 2011 on the charges of sexual abuse in the second degree and sodomy in the third degree, where the victims were 15 and 13 years old, respectively.

Scanlon and Patterson are only two of the more than 150 foreign registered sex offenders (RSOs) who have been refused entry at the airports since January.

Let me end this piece by asking you readers: What do you think about this recent development? Do you consider sex-related tourism a major issue for the Philippines’ standing in international tourism? Do you think that there are lots of suspected business joints within your city that could secretly be engaging in prostitution, pornography and human trafficking? What do you think should be done to prevent sex tourism from growing in the Philippines? Do you think that illegal sex-related activities involving foreigners here in the Philippines (for insight, click here, here, and here) are somehow attracting foreign sex offenders to come into the country?

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

+++++

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 at https://www.instagram.com/authorcarlocarrasco