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PHL tourism to lose P23 billion a month due to COVID-19
The Department of Tourism (DOT) anticipates a P42.9 billion loss in revenue from February to April due to the novel coronavirus (COVID-19) outbreak.
This projection primarily affects tourists from China, Hong Kong, Macau, and Taiwan, areas from which the Philippines banned non-Filipino travelers.
Tourism Secretary Bernadette Romulo-Puyat announced that the tourism sector could lose a total of P42.9 billion from February until April, with P16.8 billion expected for February, P14.11 billion for March, and P11.98 billion for April.
The tourism industry alone could lose approximately P22.7 billion in revenues per month, considering the multiplier effect of tourism and domestic airline receipts.
The COVID-19 outbreak has already led to 465 cancelled flights weekly, affecting 101,452 seats.
Airlines are expecting to lose around P3 billion from ticket refunds in the next two months following the China travel ban.
To mitigate the financial blow, the DOT is planning to promote domestic tourism by offering more value-added tour packages, discounted accommodations, and reduced prices for domestic flights.
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