00:00The Philippines recorded over a million tourist arrivals from January to February,
00:05a strong growth signal in the country's tourism sector. Tourism revenue surged past 65 billion
00:11pesos in January, surpassing the 43 billion pesos recorded in the same month of 2019
00:18before the pandemic. The palace attributes this growth to improved peace and security,
00:23as well as faster and more accessible services from the Bureau of Immigration.
00:28The palace also highlighted the impact of the recently enacted VAT Refund for Non-Resident
00:34Tourists Act, which allows foreign visitors to claim a 12% value-added tax or VAT refund
00:40on local purchases worth at least 3,000 pesos per transaction.
00:45With increased tourist spending projected to rise by 30% under the new law, the government expects
00:51tourism revenues to continue growing, benefiting small businesses and creating more jobs across
00:57the sector.
