It's four days before 2024 concludes.
Let's walk down memory lane and look back at some of the defining moments of the year that will soon pass. Yes, Virginia, a cartload of events came our way—improvements in basic services, particularly in disaster preparedness following a number of natural calamities that visited the country, and the brewing political discord.
Notable among these events was the early change in Senate leadership, with independent Senator Miguel Zubiri stepping down as Senate President and being replaced by Francis Escudero.
Then, who could forget the resignation of Vice President Sara Duterte as Secretary of the Department of Education and vice chairperson of the anti-insurgency body?
This effectively ended the already fragmented UniTeam alliance and practically confirmed the long-held observation of a political rift between the two highest elected officials of the land.
Another noteworthy development with implications for the coming year, potentially affecting business, was the impeachment case filed against the Vice President, consisting of 24 offenses, including failure to account for her spending of confidential funds.
The progress of this impeachment case hangs in the balance due to time constraints, with lawmakers soon to be busy campaigning for the mid-term elections in May 2025.
And, of course, the assumption of operations at Ninoy Aquino International Airport by the San Miguel Corporation-led New NAIA Infrastructure Corp. promises to improve the premier gateway and potentially boost the tourism industry.
As San Miguel President and Chief Executive Officer Ramon S. Ang stated in his Christmas message, the upgrading of NAIA to international standards is a work in progress. "We work to provide you with a gateway we can all be proud of… to provide a better airport experience and elevate NAIA to world-class standards.”
From a business perspective, 2024 was a year of recovery, recapturing lost opportunities. “It was the year that operations nearly equaled pre-pandemic performance. It’s the year that most companies have equaled their 2019 figures,” enthused Victory Liner Inc. President Marivic del Pilar.
Rowena Ruaro, whose events concierge and dermatology clinic businesses virtually slumped during the lockdown, echoed this view. “The year taught me adaptability and patience. But still, I am grateful for the journey. Our business adapted to pre-pandemic era finances.”
For finance professional educator and Vice President and Head of Business Development & Market Education Departments at First Metro Securities Brokerage Corporation, “momentum” encapsulates 2024.
“This year has been marked by resilience and transformation. The banking sector, fueled by technological advancements and a renewed focus on sustainability, continues to redefine customer experiences. The middle-class market has proven to be the cornerstone. For the economy, it’s about seizing opportunities amidst challenges, driven by the collective efforts of businesses, policymakers, and everyday Filipinos.”
For millennial Kyla, it was a healing process that made her stronger and more prepared to take on new challenges in both her personal life and business.
From my corner of the Business Corridor, as the end of the year approaches, let’s take stock of the experiences and lessons learned to prepare us better for the year ahead.
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