The pandemic has sent 7 of 10 travel agencies and tour operators in distress, according to Jojo Clemente, president of the Tourism Congress of the Philippines.
Clemente told the Kapihan sa Manila Bay yesterday the government through SB Corp. could further assist companies by increasing the loanable amount under the CARES for Travel program to help them jumpstart their operations.
According to Clemente, most of travel agencies and tour operators have not been operating for a year and 10 months which means zero earnings.
The bigger ones have survived while some tried other businesses.
Clemente said the maximum loanable amount from SB Corp. is P1 million for micro businesses; P3 million for small and; P5 million for medium.
He said only P300 million has been availed of by tourism enterprises under the zero-interest no collateral loan program. Some companies are not ready to borrow as conditions remain unpredictable.
He said the most-heavily affected enterprises are those in areas where is no international gateway.
Secretary Berna Romulo-Puyat said as the planned opening of the country to foreign tourists was suspended due to the omicron variant the government will rely anew on domestic travel and to returning Filipinos to stimulate tourism this holiday season.
Clemente said there has been no cancellations among travellers despite the new virus. Irma Isip
