Tag: money

Cases Of Foreign Tourists Getting Overcharged In Vietnam Increase

Cases Of Foreign Tourists Getting Overcharged In Vietnam Increase

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Having traveled to many destinations around the world, I am always mindful about how much money I carry, how much do products and services cost, and what exactly should I pay for. Vietnam, which attracted a record 21.2 million foreign tourists last year, has a disturbing trend of foreign tourists getting overcharged for services and products, according to a VnExpress news article.

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

Gouging tourists is giving Vietnam a bad name despite its sustained promotional efforts, insiders warn.

They want the authorities to hike fines manifold and deploy technology-based monitoring systems to prevent the insidious practice.

Chi Mai, 35, a Hanoi-based tour guide whose family has lived in the capital for three generations, says incidents of overcharging have become so common that they no longer surprise locals.

“Even residents buying 200 grams of pickled fruit in the Old Quarter without first checking the price can be charged double. It’s not surprising that foreign tourists are asked to pay four or five times.”

The repeated reports of such instances leave her disheartened, she says.

“If authorities fail to tackle this issue in a decisive manner, Vietnam’s international tourism promotion efforts will prove ineffective.”

On Feb. 24 an American tourist was charged VND1 million (US$38) for a seven-kilometer trip, 14 times the usual fare, by a motorbike-taxi driver in Hanoi. The driver admitted to the violation, apologized to the tourist and promised not to repeat the act.

Earlier cases also drew attention. In January Hanoi authorities fined a street vendor for charging two foreign tourists nearly four times the normal price of a conical hat.

In July 2025 a group of Filipino tourists were charged VND1.4 million ($53) for a taxi ride of less than 1 km, 50 times the normal fare.

Two months later an Australian family reportedly paid VND1.2 million for a cyclo trip, three times the regulated rate.

Overcharging and aggressive solicitation are not confined to Hanoi and have been reported across other tourist hubs such as Ho Chi Minh City and Da Nang.

Nguyen Tien Dat, CEO of Hanoi-based tour operator AZA Travel, says overcharging tends to occur more frequently in destinations with large numbers of international visitors.

He recounts a personal experience in Da Nang where a taxi driver took a longer route from the airport while Dat was on a phone call. Only after he protested strongly did the driver adjust the fare.

“Even veteran tourism professionals such as tour guides and travel agency executives can fall victim to such practices, and international visitors are even more exposed,” Mai says, adding she has frequently intervened to help tourists resolve pricing disputes.

Tran Trung Hieu, deputy director of the Hanoi Department of Tourism, acknowledges that gouging remains an issue, particularly in areas such as the Old Quarter and during major festivals.

Failure to publicly display prices and forcing customers to make purchases are fraudulent practices, he says.

The department has established a tourist hotline and increased security presence on pedestrian streets during weekends, he says.

“Price gouging, at worst, discourages visitors from returning.“

In Da Nang, the Department of Culture, Sports and Tourism has formed a rapid response team to address complaints and conducts regular inspections of tourism service providers.

There are task forces to monitor commercial fraud, counterfeit goods and non-compliance with pricing regulations.

Authorities on Phu Quoc Island recently established a tourism rapid response team to protect visitors and address service-related concerns amid a tourism boom.

Let me end this piece by asking you readers: What is your reaction to this development? If you were able to travel overseas over the past twelve months, were you excessively charged for a service or for a product you purchased? Does the trend of overcharging tourists in Vietnam discourage you from visiting the country? Do you think the authorities in Vietnam will be able to solve the problems?

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

Philippines Economic Growth May Slow Down To 4.2% This Year

Philippines Economic Growth May Slow Down To 4.2% This Year

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In the view of the University of Asia and the Pacific (UA&P), the growth of the economy of the Philippines may slow down a bit further this year to 4.2%, according to a BusinessWorld news report.

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

PHILIPPINE ECONOMIC growth may likely be even slower this year, amid uncertainty over a “meaningful” recovery, the University of Asia and the Pacific (UA&P) said.

In its February The Market Call, UA&P cut its full-year gross domestic product (GDP) growth forecast to 4.2% from the “above 5%” forecast previously.

If realized, this will be even slower than the post-pandemic low of 4.4% GDP growth in 2025 when the flood control scandal dampened government spending and investments.

However, UA&P expects first-quarter GDP growth to pick up to 3.3% from 3% in the fourth quarter of 2025. If realized, it will be slower than 5.4% in the first quarter of 2025.

“More indicators revealed the impact of the flood control scandal, hurting economic growth in 2025 as sentiment points to a ‘muddling through’ scenario for 2026,” it said. UA&P said the government needs to ramp up spending to drive faster growth this year.

“While uncertainty over a meaningful economic recovery remains, we see some bits of light emerging,” it said.

“With inflation remaining in the lowest quarter of BSP (Bangko Sentral ng Pilipinas) target range, policy and interest rates declining, and the peso depreciating, consumer spending, residential property sales, car sales, equipment leasing and other interest-sensitive spending should provide better consumption expenditures in Q1,” it added.

Headline inflation picked up to 2% in January from 1.8% in December and 2.9% in the same month last year.

“A more optimistic PMI in January, along with expected increases in exports and remittances from overseas Filipinos, should be supported by the peso’s depreciation,” UA&P said.

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to a nine-month high of 52.9 in January due to fresh export orders.

Last year, merchandise exports reached $84.4 billion, reflecting a 15.2% increase amid “holiday demand, US agricultural exemptions, and a weaker peso.”

Cash remittances coursed through banks hit an all-time high in December at $3.5 billion, bringing the full-year tally to a record $35.6 billion.

Meanwhile, the UA&P said that it expects further weakening of the peso after the BSP cut its policy rate by 25 basis points (bps) in February.

The Monetary Board lowered the target reverse repurchase rate by 25 bps to 4.25%, the lowest in over three years. This brought the BSP’s total reductions to 225 bps since it began monetary policy easing in August 2024.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you find the latest economic outlook of UA&P believable and precise? Do you think the fallout from the flood control corruption scandal still is dragging down the economic growth of the nation? Do you think the national government will be able to increase its spending 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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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

New Debit Mastercard Launched By BPI

New Debit Mastercard Launched By BPI

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A new debit Mastercard was launched recently by the Bank of the Philippine Islands (BPI) which will be available for free for clients who open an account through bank branches and also for existing clients whose existing cards are about to expire or are due for renewal, according to a business news report by GMA Network.

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) has launched a new debit Mastercard made from 100% recycled PVC-free plastic, as the Ayala-led lender boosts its sustainable banking efforts.

The new card will be available for free for clients who open an account through the bank’s branches and for existing clients with cards nearing expiry or are already due for renewal. Clients who switch to the new card will be charged a P200 replacement fee.

The card—which features a curved notch at the bottom left corner—can be requested through the BPI app or BPI Online, and may be available for pickup at the preferred branch.

“Reimagining the BPI Debit Mastercard to become an eco-friendly card is a testament to BPI’s commitment to its values of sustainability and innovation,” BPI Mass Retail head Jenny Lacerna said in an emailed statement.

“By using sustainable materials for our card, we hope to make sustainable behavior the default option for everyone,” she added.

Let me end this post by asking you readers: What is your reaction to this recent development? What is your observation about the new debit card launched by BPI? If you are an existing BPI account holder, do you intend to request for the new card?

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

Cerberus’ P5.31 Billion Unsolicited Proposal For Subic Bay International Airport Development Under SBMA’s Review

Cerberus’ P5.31 Billion Unsolicited Proposal For Subic Bay International Airport Development Under SBMA’s Review

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When was the last time you visited the Subic Bay International Airport (SBIA)? In recent times, the US-based company Cerberus Asia Pacific Investments, LLC (Cerberus) proposed to manage, operate and rehabilitate the said airport for P5.31 billion and it has been endorsed by the Public-Private Partnership (PPP) Center. The unsolicited proposal is officially being reviewed by the Subic Bay Metropolitan Authority (SBMA), according to a news report by BusinessWorld.

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

THE P5.31-billion unsolicited proposal of US-based investment company Cerberus Asia Pacific Investments, LLC (Cerberus) to manage, operate, and upgrade Subic Bay International Airport (SBIA) is now being reviewed by the Subic Bay Metropolitan Authority (SBMA) after the go signal from the Public-Private Partnership (PPP) Center.

“This unsolicited project was endorsed by the (PPP) Center to the IA (implementing agency) after being determined complete… The Subic Bay International Airport PPP is currently undergoing the approval process of SBMA,” the PPP Center told BusinessWorld on Tuesday.

According to the PPP Center, the SBMA will be the approving body for the project. If approved, the airport project will be under an operate-add-transfer contract arrangement.

Once the SBMA approves the project, it will begin negotiations with the project proponent. The government will then formalize the Original Proponent Status and initiate the Swiss Challenge process.

The Swiss Challenge is a process where other companies can submit better offers, but the original proponent has the right to match them.

Cerberus Capital Management is an investment firm managing approximately $65 billion in assets. Its global network of affiliates includes Cerberus Asia Pacific, which focuses on investments in logistics, infrastructure, technology, and energy.

Cerberus already operates part of a 310-hectare lot of a former South Korean-owned shipyard located west of the airport for which it had submitted an unsolicited bid.

“In theory, competitive bidding is king. In the reality of the SBIA, Cerberus is the catalyst we need. It is time to choose strategic results over procedural delays,” Rene S. Santiago, former president of the Transportation Science Society of the Philippines, said in a Viber message.

Nigel Paul C. Villarete, a senior adviser on public-private partnerships at the technical advisory group Libra Konsult, said that solicited bidding would be more feasible and faster, as it enables the government to define the contract’s parameters and coverage.

“Many of our public facilities should be operated by the private sector to attain a lot of the efficiencies that they can do, which are often difficult to attain within the government realm,” Mr. Villarete said.

For Mr. Villarete, a government-led solicited procurement process will always be preferable.

However, since an unsolicited proposal has already been submitted, the government’s role is to enter into negotiations, introduce the necessary changes and amendments, and only then present the proposal to the public for challenge, he said.

“There should be a negotiation period for the two parties to discuss any amendments required by the government before this is published for challenge,” he said.

Cerberus’ proposal covers the rehabilitation of SBIA assets and the development of new facilities to expand capacity and attract new tenants.

The company has also committed to invest “considerable financial resources” and utilize its real estate management capabilities in developing the airport.

In its proposal the company said that it will maintain the existing leases but only for the “early years” of its concession period.

“Cerberus plans to maintain the status quo of existing operations by honoring existing leases and retaining incumbent employees. In parallel, Cerberus will invest significant capital expenditure to improve SBIA’s infrastructure and operations, whilst building new hangars and storage facilities to reestablish SBIA as a major hub for commercial cargo operations and to expand SBIA’s government logistics operations,” it said.

The company added that it will monitor and evaluate airport fees to optimize SBMA’s returns under the revenue-sharing agreement, while supporting efforts to attract and manage both existing and new airport tenants.

This revenue-sharing scheme would be the determining factor if the proposed 25-year concession agreement were extended, PPP Center said.

Let me end this post by asking you readers: What is your reaction to this recent development? What is your opinion about the current state of the international airport inside the Subic Bay Freeport Zone? Do you think so much more can be achieved with the Subic Bay International Airport in terms of expanding flight connectivity, attracting more tourists from overseas and paving way for more foreign commerce to enter the freeport?

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

Deals Worth $4.2 Million Signed To Expand Nuclear Cooperation

Deals Worth $4.2 Million Signed To Expand Nuclear Cooperation

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Recently the effort to integrate nuclear power into the energy mix of the Philippines moved a few steps forward as deals with American companies worth $4.2 million were formally signed, according to a BusinessWorld news report.

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

THE PHILIPPINES is gaining more support from the United States in its goal of integrating nuclear power into the national energy mix in the next six years as it sealed $4.2 million worth of deals with US companies.

Government agencies and private companies from the Philippines and the US on Monday entered into memoranda of understanding which are aimed at exploring deployment of nuclear technology and supporting nuclear workforce development in the country.

“The Philippine Energy Plan sets clear direction for an energy future — 1,200 megawatts (MW)by 2032. And that is not moving until somebody tells us that it’s impossible,” Energy Secretary Sharon S. Garin said in her speech during the signing ceremony in Makati City on Monday.

“These targets demand preparation, anchored in discipline, safety, and capacity. As we pursue energy security and a responsible transition, we must invest in our people as deliberately as we invest in infrastructure,” she added.

Under the Philippine Energy Plan, the country aims to integrate nuclear energy into the power mix with at least 1,200 MW of capacity by 2032, rising to 2,400 MW by 2045 and to 4,800 MW by 2050.

“We want to work together to get the Philippines to the finish line on nuclear energy,” Ann K. Ganzer, principal deputy assistant secretary at the US Department of State’s Bureau of Arms Control and Nonproliferation, said.

“Beyond acquiring the technology and establishing robust regulations, to achieve that 2032 goal, the most vital elements will be assessing sites for commercial reactor and developing the skilled workforce needed to design, construct, operate, regulate and sustain advanced nuclear plants for generations to come,” she added.

Manila Electric Co. (Meralco), the country’s largest private electric distribution utility, secured a $2.7-million grant from the United States Trade and Development Agency to help the company assess and deploy US-designed small modular reactors (SMRs) in the Philippines.

Meralco will pursue a feasibility study which involves an evaluation of leading US technologies, identification of viable sites, and delivery of a high-level implementation roadmap.

SMRs, each capable of generating up to 300 MW, can be constructed more quickly than traditional nuclear power plants.

Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan described the grant as “the beginning of a long but necessary journey.”

“Meralco is also looking actually at not only SMRs. It depends on the horizon by which we are able to deploy, but also, perhaps a bit sooner, conventional nuclear plants for this country,” Mr. Pangilinan said.

“It simply is right for the country and for Meralco to take nuclear, and we are prepared to act as thought leaders in this regard,” he added.

The US State Department’s Foundational Infrastructure for Responsible Use of Small Reactor Technology Program involves the installation of a $1.5-million nuclear reactor control room simulator at a technical institution within the planned Luzon Economic Corridor.

The simulator will provide hands-on realistic training for future reactor operators, which is aimed at positioning the Philippines as an SMR regional training hub.

Meanwhile, several private companies and government agencies also contributed $2.5 million to bring US nuclear experts to the Philippines to develop specialized vocational and higher education curricula focused on the civil nuclear industry.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines still has a lot of work to do and many challenges to resolve before it could convince foreign investors to come in? Do you think the national government is doing good enough to make the country attractive to foreign investors again?

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

Philippine Peso Could Land At P59.70 To The US Dollar By End Of 2026

Philippine Peso Could Land At P59.70 To The US Dollar By End Of 2026

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With its own analysis of varied economic factors, Metrobank stated that the Philippine Peso could end up at a rate of P59.70 to the US Dollar by the end of this year, according to a BusinessWorld news report.

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

THE PESO may settle at P59.70 against the dollar by end-2026 on expectations of an economic rebound driven by improved investor confidence, Metropolitan Bank & Trust Co. (Metrobank) said.

In a commentary dated Feb. 10, Metrobank trimmed its peso forecast for end-2026 to P59.70 a dollar from P60.80 previously. It likewise projects the peso to end 2027 at P58.50 versus the greenback, from its earlier estimate of P58.90.

“(A)n anticipated economic growth rebound and improved investor confidence, thanks to better government spending, could support the peso,” it said.

If the bank’s 2026 forecast holds true, the local unit would end the year weaker than its P58.79 finish against the dollar on the last trading day of 2025.

The lingering effects of the flood control corruption scandal and uncertainties in the global market pushed the peso to test new lows at the start of the year.

On Jan. 15, it closed at P59.46 per dollar, breaking the previous all-time low of P59.44 recorded just the day prior.

However, it has recently strengthened amid a weak dollar. On Wednesday, the local unit hit a near four-month high after closing at P58.29 versus the greenback, up 24 centavos from its P58.53 finish on Tuesday, data from the Bankers Association of the Philippines showed.

Meanwhile, Metrobank noted that the peso could struggle to regain further strength as the country’s current account is projected to remain at a shortfall this year.

“Still, the projected current account deficit this year — although narrower than last year’s — would cap the peso’s strength,” it said.

Based on the latest central bank data, the current account balance stood at a $12.5-billion deficit by the end of the third quarter. This was equivalent to -3.6% of gross domestic product (GDP).

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Peso could perform better against the US Dollar and end up better than what Metrobank estimated? Do you think a weaker Peso would be very helpful to the exporters?

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

2025 Foreign Investments Fall Down 50.1%

2025 Foreign Investments Fall Down 50.1%

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With the final economic numbers of 2025 counted, it has been confirmed that approved foreign investments in the Philippines fell down by more than 50%, according to a news report by BusinessWorld.

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

APPROVED foreign investments in the Philippines plunged by 50.1% year on year to P272.38 billion in 2025, its sharpest fall in five years, the Philippine Statistics Authority (PSA) reported on Thursday.

Preliminary data from the PSA showed that the value of foreign commitments approved by the country’s investment promotion agencies (IPA) in 2025 was lower than P546.19 billion in 2024.

This was the steepest drop in foreign investments since the 71.3% drop recorded during the pandemic in 2020. By value, this was the lowest amount of approved foreign investments since the P241.89 billion recorded in 2022.

Singapore was the top source of investment pledges for 2025 after committing P92.78 billion, or 34.1% of the total. It was followed by the Netherlands with P35.98 billion (13.2% share) and Japan with P34.03 billion (12.5%).

Analysts attributed the sharp drop in foreign investment pledges to the sluggish investor confidence in the Philippines arising from global trade uncertainties, natural disasters and the flood control corruption scandal.

“In a nutshell, the decline in approved foreign investment pledges in 2025 was driven by a mix of weaker investor confidence due to governance and corruption issues, global economic uncertainties, cautious corporate behavior, and an unusually high base of comparison from the previous year,” said Ser Percival K. Peña-Reyes, director of the Ateneo Center for Economic Research and Development.

Marco Antonio C. Agonia, an economist at the University of Asia and the Pacific, said uncertainty over the US tariffs may have also dissuaded foreign investors from setting up operations in the Philippines.

The United States imposed a 19% tariff on most Philippine goods beginning Aug. 7, 2025.

“Similarly, weaker growth prospects from repeated natural disasters and the flood control scandal may have encouraged foreign companies to scrap or defer their investment plans in the country,” Mr. Agonia said in an e-mail.

The Board of Investments (BoI) approved P150.34 billion worth of investment pledges in 2025, accounting for 55.2% of the total. It was followed by the Philippine Economic Zone Authority (PEZA) with investment pledges worth P107.06 billion (39.3% share), and the Bases Conversion and Development Authority (BCDA) with P7.01 billion (2.6%).

For 2025, about 45% or P122.48 billion of the total approved foreign investments will go to the energy sector, followed by manufacturing with P81.41 billion (29.9% share) and real-estate activities with P26.31 billion (9.7%).

In 2025, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) cornered around P100.43 billion worth of these investment pledges. Central Luzon will get P70.74 billion while the Bicol Region got P50.76 billion.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines still has a lot of work to do and many challenges to resolve before it could convince foreign investors to come in? Do you think the national government is doing good enough to make the country attractive to foreign investors again?

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

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2.26 Million Filipinos Jobless in December 2025, Unemployment Rate Lands At 4.4%

2.26 Million Filipinos Jobless in December 2025, Unemployment Rate Lands At 4.4%

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Over two million Filipinos were reported jobless for the month of December 2025 with the unemployment rate landing at 4.4%, according to a business news report by the Manila Bulletin.

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

The country’s unemployment rate held steady at 4.4 percent in December 2025 from the previous month, but underlying labor market data pointed to emerging softness as the number of jobless Filipinos continued to rise.

The latest preliminary data from the Philippine Statistics Authority (PSA) released Friday, Feb. 6, showed that around 2.26 million Filipinos were unemployed in December, up sharply from 1.63 million during the same month in 2024 and slightly higher than the 2.25 million recorded in November.

The increase came alongside a labor force participation rate of 64.4 percent, translating to about 51.69 million Filipinos aged 15 and above who were either employed or actively seeking work.

The employment rate settled at 95.6 percent for the month, down from 96.9 percent in December 2024, while the underemployment rate fell to a single-digit eight percent in December—the lowest on record, National Statistician Claire Dennis S. Mapa noted at a press briefing. The last time that underemployment reached a single-digit rate was in May 2024, when it stood at 9.9 percent.

For full-year 2025, the employment rate slipped to 95.8 percent from 96.2 percent in 2024, while the unemployment rate rose to 4.2 percent from 3.8 percent. Underemployment held steady at 11.9 percent, the same level recorded in 2024.

Mapa attributed the year-on-year increase in unemployment primarily to the construction sector, which reportedly shed 550,000 jobs.

He noted that weak growth in construction—particularly public construction—was the main driver of the rise in unemployment. The sector further declined in the fourth quarter of 2025 compared with the third quarter.

Reductions in employment were also observed in transportation and storage (258,000), fishing and aquaculture (258,000), and manufacturing (255,000), but Mapa emphasized that construction accounted for the largest impact.

While employment grew by around 172,000 in 2025 compared with 2024, Mapa said this was the lowest annual increase in the past three years, excluding the pandemic years.

He noted that employment had risen by 1.29 million in 2023 compared with 2022 and by 664,000 in 2024 compared with 2023, highlighting a clear downward trend.

The slowdown was largely due to the construction sector contributing fewer workers compared with previous years, as reduced public construction activity translated into lower employment.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think unemployment all over the Philippines will gradually get worse over the next twelve months? If the economic growth of the Philippines weakens further, do you think job opportunities will be reduced?

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

Philippines January 2026 Inflation Rate Lands At 2%

Philippines January 2026 Inflation Rate Lands At 2%

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The inflation rate of the Philippines for the month of January 2026 landed at 2% which is the highest in almost a year’s time, according to a news report by BusinessWorld.

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

PHILIPPINE INFLATION accelerated to its fastest pace in nearly a year in January amid a faster rise in rents and electricity rates, the Philippine Statistics Authority (PSA) reported.

Headline inflation picked up to 2% from 1.8% in December but slowed from 2.9% in the same month last year. This was the fastest pace seen in 11 months or since 2.1% in February 2025.

It also marked the first time in almost a year that the consumer price index (CPI) hit the Bangko Sentral ng Pilipinas’ (BSP) 2%-4% target.

The January clip was likewise above the 1.8% median forecast in a BusinessWorld poll of 18 economists but was within the central bank’s 1.4%-2.2% estimate for the month.

“The main reason for the higher inflation rate in January 2026 compared with December 2025 is the faster price increase in housing, water, electricity, gas, and other fuels, which recorded a 3.3% inflation rate,” National Statistician Claire Dennis S. Mapa said at a news briefing on Thursday.

Inflation for housing, water, electricity, gas and other fuels quickened to 3.3%, the fastest since 3.8% in August 2024.

According to the PSA, this commodity group had a 45.9% share in the overall inflation uptick in January.

Broken down, inflation for electricity rose to 6.5% year on year in January from the revised 4% in December, while rental prices picked up by 2.9% during the month from 2.4% in December.

This comes even after Manila Electric. Co. trimmed electricity rates by 16.37 centavos per kilowatt-hour (kWh) to P12.9508 per kWh last month from P13.1145 per kWh in December, which meant households consuming an average of 200 kWh paid P33 less in their monthly electricity bill.

In January 2025, Meralco charged P11.7428 per kWh.

The Department of Economy, Planning, and Development (DEPDev) said the government is enforcing programs to manage price pressures emerging from the energy sector. It includes improving the Department of Energy’s Net Metering Program by enforcing time-bound local permitting, simplifying utility documentary requirements and expanding consumer incentives.  

“The program allows consumers to install eligible renewable energy systems and export surplus electricity to the grid, helping lower electricity costs and support the energy transition,” the DEPDev said in a statement.

Mr. Mapa also noted that liquefied petroleum gas (LPG) added price pressures, as inflation settled at -2.8% in January from -5.1% in December.

In January, Petron Corp. hiked LPG prices by P2.18 per kilogram (kg), while Solane imposed a P2.18-per-kg increase.

This means that the price of a household-standard 11-kg LPG tank ranged from P820 to P1,120 last month, based on data from the Department of Energy.  

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the inflation rate of the Philippines could rise to as much as 3% this year? What do you think will be the factors – both internal and external – that will cause the inflation rate to spike?

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

Indonesia Attracts 15.39 Million Foreign Visitors In 2025

Indonesia Attracts 15.39 Million Foreign Visitors In 2025

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Indonesia, the 2nd largest economy of Southeast Asia, successfully attracted 15.39 million foreign visitors in 2025 and it is already looking forward to attracting even more this year, according to a news report by VnExpress.

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

Indonesia, the largest economy in Southeast Asia, welcomed 15.39 million foreign visitors in 2025, exceeding its target of 14-15 million arrivals.

“We have exceeded our target and performed better than our previous projections,” Tourism Minister Widiyanti Putri Wardhana said at a meeting in Jakarta on Wednesday, as quoted by Antara News Agency.

Government figures show that average spending per foreign visitor reached US$1,267 in 2025, surpassing the target of $1,220.

Malaysia remained the biggest contributor to Indonesia’s tourism revenue, while the United Arab Emirates posted the fastest growth in visitor numbers.

Arrivals from China rose sharply, reaching 1.34 million in 2025, the highest level in six years, according to Xinhua News Agency. The data indicates that travel from China to Indonesia has not only recovered but has also exceeded pre-pandemic levels.

By doing the math of the numbers revealed in the above news report, US$1,267 multiplied with 15.39 foreign tourists is equal to roughly US$19.5 billion in foreign tourism revenue. That is a huge economic boost for Indonesia.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Indonesia? If you have visited Indonesia, what did you enjoy the most while touring there?

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