Marcos Jr. launches Turismo Asenso loan program for tourism MSMEs

President Ferdinand R. Marcos Jr. launched the Turismo Asenso Loan Program to support tourism enterprises, aiming to create jobs and boost small businesses across the country.

The program is a collaboration between the Department of Tourism (DOT) and the Department of Trade and Industry (DTI), facilitated by the Small Business Corporation (SBCorp).

Qualified tourism micro, small and medium enterprises (MSMEs) can avail of loans from PHP10,000 up to PHP10 million with a fixed monthly rate of 1 percent, payable over three to five years.

Borrowers will not be required to pay the principal amount and interest within the first year after loan disbursements, and they will not be required to have collateral.

During the launch event, nine businesses from Metro Manila and Calabarzon received loan packages ranging from PHP150,000 to PHP1 million.

President Marcos urged the DOT, DTI, and SBCorp to ensure the program reaches all parts of the country, as he also announced plans to expand financing for tourism small enterprises with a focus on cultural and community-based experiences.

Tourism's direct gross value added grew 11.2% to P2.35 trillion in 2024, its strongest performance since 2019, pushing its share of gross domestic product to 8.9%.