The Private Sector Advisory Council (PSAC) recommended the launch of a nationwide "Shopping Festival Philippines" to help attract more tourists to the country.
During the sector's meeting at Malacañang Palace on Wednesday, President Ferdinand Marcos Jr. stated that the PSAC's recommendations are crucial for boosting tourism in the country.
“We’ve talked about this shopping festival. Again, I think it’s properly categorized as an easy win. So, we’ll do that,” said Marcos.
This initiative is expected to coincide with the upcoming New Year's celebrations and aims to attract more tourists to the Philippines, especially following the signing into law of the VAT Refund for Non-Resident Tourists.
Tourists can now claim a refund on the Value Added Tax for goods bought at accredited retail outlets within 60 days under the new law, as long as they meet a minimum purchase of PhP3,000.
Moreover, the new law is expected to result in a 30 percent increase in tourist spending, benefiting both large-scale industries and micro, small, and medium enterprises (MSMEs).
Another recommendation from the PSAC is to simplify visa access for holders of AJACS (American, Japanese, Australian, Canadian, Schengen) and AJACSUK (American, Japanese, Australian, Canadian, Schengen, Singapore, or UK) visas. President Marcos stated that this is a top priority on his agenda.
However, he noted that the recommendation must be carefully studied, particularly with regard to its security implications.
Marcos also called for a thorough review of PSAC's recommendation to improve the immigration process by implementing a digital identification system using biometric data, such as facial recognition or fingerprints, to ensure smooth transactions and secure travel processing.
