The Magazine for Asian Investors
The Philippine Statistics Authority (PSA) reported that 3.27 million Filipinos were unemployed in December 2021, a 6.6% increase from the previous month (3.16 million in November). Although the relaxation of measures to curb the spread of COVID-19.
The labor force participation rate (LFPR) rose to 65.1% in December, the highest level since 2021.
The Philippines announced today that it is reopening its borders to foreign tourists, ending a two-year border closure to combat COVID-19.
Philippine Tourism Secretary Bernadette Romulo-Puyat said, “The Philippines will open a new chapter in its road to recovery by opening the borders to foreigners from 157 countries who have received a full dose of the coronavirus vaccine and can travel visa-free.”
The Immigration Department expects about 7,000 tourists to arrive in the country today. In 2019-2020, when the coronavirus began to spread, the number of arrivals in the Philippines decreased by 82%.
Philippine Airlines (PAL) responded to this government decision by confirming the safety of passengers with air filtration systems on the aircraft and that all employees on board were fully vaccinated.
According to the Philippine Department of Tourism, more than 349,000 Filipino workers rely on tourism. The most popular countries to visit the Philippines include South Korea, the United States, China and Japan.