Business

Asian Institute of Management’s Dr. Andrew L. Tan Center for Tourism Associate Director John Paolo R. Rivera attributed the growth in tourism’s contribution to the reopening of tourism activities.

“This is also driven mostly by domestic tourists, who eagerly want to travel after being cooped up in their homes during the lockdowns,” Mr. Rivera said in an e-mail interview.

The government loosened mobility restrictions in the Philippine capital and nearby areas late last year, as COVID-19 infections dropped and the vaccination rate increased. This allowed many hotels, resorts, restaurants and other tourism-related facilities to reopen, albeit at lower capacity last year.

Mr. Rivera said tourism sector’s growth can further improve this year once more foreigners visit the country for tourism.

“It’s through using the ‘bawas-dagdag’ (reduce-add) method,” he said in a phone interview. This involves cutting back on unnecessary expenses and prioritizing what one really needs.

Mr. Tan said it is important right now to be more practical. “Rather than looking for branded things, you might look for alternatives that are less expensive… Look for cheaper ways to do things,” he noted.

Filipinos also need to save more, especially for emergency funds that cover at least six months of their living expenses.

“Because of the pandemic, we may never know, hopefully not, that there will be another surge… Once it persists, there will be some limitations again and, at the same time, some people will have a problem earning on a daily basis,” Mr. Tan said.

Filipinos should also consider other ways to augment their income, such as online gigs such as writing, graphic design or video editing, he said.

For people who are entrepreneurial, he recommended getting into the food business.

“They can start cooking at home and sell it. They can also look at the health and wellness industry, because health and wellness products are among the easiest products to sell right now due to the pandemic,”

A breadwinner, Mr. Lagos said daily survival requires “diskarte” since he sends money to his wife and four children in Bohol.

“I told them that we need to tighten our belts because it’s now very difficult to earn money in Manila. I used to send home at least P700 a day, now I’m happy if I’m able to send P350 to P400, but most of the time P250,” he added.

Mr. Lagos said working as a family driver is his best option, as he will have a fixed salary, meals and accommodation.

For now, he asks for tips from his passengers. “I think they understand my situation.”

Asked how the projects will be funded with the government’s depleted budget, Mr. Bonoan said: “We just have to be very selective on high-impact projects that we can now afford at this time — very selective in the sense that these are high-impact projects that can immediately contribute to the economic recovery.”

“We’ve realized that funds are very scarce at this time, although we will actually coordinate with the Department of Finance and the economic managers and get guidance from them on how we will continue with the Build, Build, Build program.”

THE INCOMING Marcos administration will work to entice more investors in its infrastructure program through public-private partnerships (PPPs), focusing on high-impact projects, according to the next head of the Department of Public Works and Highways (DPWH).

“(President-elect Ferdinand R. Marcos, Jr.) said we have to continue to entice and invite the private sector through our public-private partnership, actually particularly in projects that are financially viable for them,” SMC Tollways President and Chief Executive Officer Manuel M. Bonoan said in an interview with ABS-CBN News Channel on Tuesday.

Outgoing President Rodrigo R. Duterte had previously steered clear of PPPs, a mode preferred by the Aquino administration, due to allegedly disadvantageous provisions such as state subsidies and sovereign guarantees.

Philippines AirAsia, Inc. said the adjustment in the fuel surcharges will help cushion the impact of volatile global oil prices on airlines.

“AirAsia remains committed to offering best value for money deals for flights, SNAP (flight + hotel bundle) and other products housed on the AirAsia Super App to provide our guests with affordable options during their travels. We are optimistic that the adjustments in fuel surcharges will not affect the booking behavior of our guests who have been wanting to rediscover the Philippines and key destinations in ASEAN (Association of Southeast Asian Nations),” a company representative said in an e-mailed statement.

Starting this month, airlines are allowed to collect fuel surcharge under Level 7 or the highest level in a fuel surcharge matrix approved by the Civil Aeronautics Board (CAB).