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Zero return of investment: Bicol solon happy to drain own pocket for hot air balloon event

Philippines | National

Zero return of investment: Bicol solon happy to drain own pocket for hot air balloon event

By Ellson Quismorio

At A Glance

Ako Bicol Party-list Rep. Zaldy Co has burned a hole in his pocket by kicking off on Friday, May 3 a jaw-dropping hot air balloon attraction in his native of Legazpi, Albay.
Co, chairman of the House Committee on Appropriations, said no government funds were spent on the event.

Ako Bicol Party-list Rep. Zaldy Co (center)

Ako Bicol Party-list Rep. Zaldy Co has burned a hole in his pocket by kicking off on Friday, May 3 a jaw-dropping hot air balloon attraction in his native of Legazpi, Albay.

And apparently he doesn't care, for as long as the annual event becomes a catalyst for an economic boom in Bicol.

“What we plan after this Bicol Loco Hot Air Balloon Festival is to make this attraction available every day, all year round, and not just three days in a year. This is to create more jobs for locals because that is what we need most here in Bicol,” said Co, chairman of the House Committee on Appropriations.

Bicol Loco Hot Air Balloon (Rep. Co's office)

Addressing the elephant in the room, which was the funding for rhe project, the second-term congressman had this to say:

"No government funds dahil nagfail ang bidding. Kaya sinagot ko na lang lahat ng gastos just to ensure the festival's success (No government funds were used because the bidding failed. So I took care of all the expenses just to ensure the festival’s success)."

Co added that he was not expecting a return on investment. “The true return is in the form of community development and job creation."

"It's an investment for the happiness of Bicolanos and economic prosperity of our region. This is a marketing strategy to promote Bicol,” he said.

Bicol Loco Hot Air Balloon (Rep. Co's office)

ALSO READ:

https://mb.com.ph/2024/5/2/more-than-just-an-event-solon-guarantees-exhilarating-bicol-loco-festival

The hot air balloon event was a part of the Bicol Loco Festival, which will run from May 3 to 5. The solon's exact out-of-pocket expenses were not disclosed.

Around 25,000 tourists from within and outside Bicol are expected to join celebration, which features top Filipino artists like Sarah Geronimo, Bamboo, Ely Buendia and Jericho Rosales.

"With flights and hotels as far as Naga and Camarines Norte fully booked, the value of this festival to tourism is undeniable," Co said.

The first weekend of May was selected for the event as it had the optimal condition for the hot air balloon activities.

Related Tags

zaldy co Bicol Loco Festival hot air balloon

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