President Ferdinand R. Marcos Jr. on Monday announced that the government’s new loan program for tourism enterprises is expected to spur job creation and boost opportunities for small businesses nationwide, reinforcing the industry’s role as a vital pillar of the Philippine economy.
“Isa na ang turismo sa mga haligi ng ating ekonomiya. Nagdadala ito ng kabuhayan at pag-unlad sa libo-libong maliliit na negosyo saan mang sulok ng ating bansa (Tourism is now one of the pillars of our economy. It brings livelihood and progress to thousands of small businesses in every corner of the country),”Marcos said at the launch of the Turismo Asenso Loan Program in Pasay City.
The program, jointly rolled out by the Department of Tourism (DOT) and Department of Trade and Industry (DTI) through the Small Business Corporation (SBCorp), provides low-interest loans to qualified tourism micro, small and medium enterprises (MSMEs), payable in three to five years at a fixed rate of 1 percent monthly interest.
Nine businesses from Metro Manila and Calabarzon were awarded loans of up to PHP1 million during the ceremony, covering enterprises in accommodations, food services, transport, and tour operations.
Marcos stressed that supporting MSMEs is central to sustaining growth in the tourism sector and ensuring that communities benefit from the rising visitor arrivals.
“Layunin ng programang ito na gawing mas abot-kamay ang puhunan para sa mga MSMEs sa turismo (The goal of this program is to make capital more accessible for MSMEs in tourism),” he said.
He also pointed to the global shift toward “experiential tourism,” saying Filipino hospitality remains the country’s edge in attracting visitors. (PNA)
