News and Updates
Statement of DOT
The Department of Tourism (DOT) expresses its deep gratitude to the Bicameral Conference Committee for approving the allocation of 10 billion pesos for the tourism industry under the Bayanihan To Recover As One or the Bayanihan 2 Bill. The recognition of the tourism sector by the Senate and House of Representatives, in the Bayanihan Act 2 measures, ensures the survival of our MSMEs since 99.9 percent of the 144,640 establishments in accommodation and food service activities are considered micro, small and medium, according to 2018 data from the Philippine Statistics Authority (PSA).
In terms of employment, 95.8 percent of the 921,292 workers in accommodation and food service activities, covered by the PSA data, are also MSMEs.
The funds for loans and credit facilities to tourism MSMEs from the Bayanihan Act 2 will be administered by Government Financial Institutions (GFIs) and independent government agencies such as the Small Business and Guaranty and Finance Corporation (SBGFC). The DOT will not be involved with the dispensation of the funds to either parties.
The DOT will continue to work with the private sector and various local government units (LGUs) in carving the path to revive tourism with proper health and safety protocols in place. We look forward as well to working with the Department of Labor and Employment (DOLE) for the program they will implement for the displaced and unemployed tourism workers.
The Department is optimistic that collectively the industry can weather this challenge, and come out stronger and better.
With the government’s support through the Bayanihan 2, the DOT shall continue to handhold its stakeholders towards recovery, and carry out the plans and programs under the Tourism Response and Recovery Plan (TRRP) in its full capacity.
Published:February 11, 2021