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Manila Bulletin devider Business devider PCCI mixed on holiday economics

PCCI mixed on holiday economics

Published Jan 7, 2024 06:56 am

As government leans on holiday economics to stimulate business and trade, the Philippine Chamber of Commerce and Industry (PCCI) is wary that it may also stifle growth.

In a statement on Sunday, Jan. 7, PCCI President Consul Enunina Mangio said the country's largest business group recognizes the benefits of long weekends for the country as a "consumption-driven economy" but they also called for balance.   

She cited greater opportunities for Filipinos to travel domestically and increase tourism expenditure, which would help the retail, food and service sectors across the country.

PCCI logo.jpeg

Mangio also noted the positive impact of longer weekends for families and friend groups to improve their well-being and social relationships, which may result to enhanced productivity. 

However, the PCCI chief emphasized that holiday economics "should balance making longer weekends without increasing the number of total holidays."

"There are already 18 scheduled regular holidays in the Philippines for 2024 and increasing this number will undoubtedly increase labor costs for industries, especially for manufacturing and business process outsourcing. This will lead to additional burden for these sectors and compromise their competitiveness," explained Mangio. 

Last Oct. 13, 2023, Malacañang publicized Proclamation No. 268 declaring the holidays for 2024. 

The long weekends for this year are expected to begin during Holy Week festivities from March 28 to 31 (Maundy Thursday to Easter Sunday), followed by National Heroes Day weekend from Aug. 24 to 26, Undas weekend from Nov. 1 to 3, then Rizal Day and New Year's Eve weekend from Dec. 28 to 31. 

At the start of the year, President Ferdinand R. Marcos Jr. encouraged citizens to seize the time offered by the long weekends and holidays. 

On Jan. 5, Department of Tourism (DOT) Secretary Christina Garcia Frasco also released a statement in support of the long weekend push, which the agency believes will greatly benefit the local tourism sector. 

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