MANILA - The Duty Free Philippines Corporation (DFPC) is slowly bouncing back and has generated a total of USD102.86 million in sales for 2023. This is 53 percent higher than what was achieved last year with sales of USD67.32 million in 2022.
According to DFPC Chief Operating Officer (COO) Vicente Pelagio Angala, the agency has struggled especially during the pandemic but has risen to the occasion and demonstrated the strength and resilience as an organization.
“Indeed, we are now moving towards business recovery. There is no way, but up,” Angala said in a press briefing held at the Luxe Duty Free at the SM Mall of Asia grounds in Pasay City last Tuesday evening.
Expressing gratitude to Department of Tourism (DOT) Secretary Christina Garcia Frasco, Angala said that the company has experienced a remarkable resurgence, driven by a steady increase in sales, particularly in top categories such as chocolates and confectionery, liquors and wines, and perfumes and cosmetics.
The DOT is DFPC’s mother-agency and has been remitting contributions, with a total of PHP54 million to fund government tourism programs and projects in the first quarter of 2020, but had to defer for the succeeding months to help the corporation stay afloat during the pandemic.
This resumed last year, with its revenue remittance to DOT reaching PHP40 million from 2023 up to the first month of 2024.
Angala also mentioned that DFPC’s top customers are still Overseas Filipino Workers (OFWs) contributing 63 percent in the total sales for 2023, followed by foreign tourists and international travellers, such as the Chinese with 15 percent, Americans with eight percent, Vietnamese with three percent and Malaysians with one percent contribution.
DFPC Chief Operating Officer (COO) Vicente Pelagio Angala shares with the media Duty Free’s accomplishments for 2023, as well challenges the firm faced last year. In a media briefing held at the Duty Free Luxe in SM Mall of Asia Grounds in Pasay City, Angala said that DFPC is aiming to increase its sales this 2024 by 64 percent or USD167 million.
To enhance accessibility of Duty Free goods, DFPC resumed its operations in Bacolod, Kalibo, and Iloilo International airports, with plans for additional stores at Clark Terminal 2 and the introduction of an online shopping platform.
Looking ahead, DFPC is aiming to increase its sales and income by 64 percent or USD167 milllion in 2024.
Angala also confirms that starting in February, Duty Free will be part of the DOT’s Hop-On Hop-Off (HOHO) itinerary, a DOT-led initiative that allows tourists to book a quick, do-it-yourself (DIY) tours by using a mobile application.
DFPC is the sole operator of the duty-and tax-free merchandising system for international travellers, "balikbayans" and OFWs in the country.
