“There is a need to adapt these holidays in accordance with the idea of holiday economics, wherein a longer weekend will assist and boost domestic travel which can raise tourism spending in the country,” President Ferdinand Marcos Jr. mentioned in his Proclamation No. 90. The proclamation’s purpose is for the new list of normal and exceptional non-working holidays for the year 2023, modifying some dates to promote the “holiday economics law” originally introduced during Gloria Macapagal Arroyo’s-presidency. As a result of this proclamation, we will expect to have at least 9 long weekends for the year 2023.
The Department of Tourism (DOT) has seen a steady increase in domestic tourist data since last year. Domestic visits in the Philippines in 2021 were 37,279,282, or 38.16% more than trips registered in 2020, according to data from the Philippine Tourism Satellite Accounts (PTSA). According to the PTSA, the expected number of domestic travels in the country will be at an all-time high in 2019, totaling 122,118,141. This figure fell by 77.90% in 2020, with 26,982,233 domestic trips registered.
Earlier this year, the President announced January 2, 2023, as a special non-working day “in observance of the Filipino tradition of visiting relatives and spending time with their families” in honor of New Year’s Day, which falls on a Sunday. Furthermore, this year appears to be a better one for travel. While we must still follow protocols to keep the virus at bay, they are considerably more forgiving than they were the prior year. Having said that, traveling is still doable, and for those looking to fulfill their wanderlust for a quick weekend break, things are looking good. So, if you want to make the most of the holiday economics law for 2023, you should arrange events for your family so that you don’t waste the opportunity to spend it with them.
What is the Holiday Economics Law?
In 2007, Former President Arroyo enacted Republic Act 9492, was passed to reflect the practice of shifting certain holidays to Monday. The strategy, known as “holiday economics,” was intended to assist the economy because people are expected to travel and spend more money on vacations during the long weekends. As a result, the local economy will benefit as more individuals spend money in various parts of the country. With the passage of the bill, the previously informal practice of relocating holiday observances became official government policy. Except for religious holidays, the legislation requires that most holidays be rescheduled to the nearest Monday.
According to a National Statistical Coordination Board research, if tourism and allied businesses rose by 10% as a result of the long weekends, the economy would experience a 3.5% boost in gross domestic product. The Holiday Economics Law was adopted to “rationalize” national holiday celebrations in the Philippines. Except for Christmas and New Year’s Day, the new law “moves” the holidays to Mondays. If the holiday falls on a Wednesday, it will be celebrated on the following Monday. In other words, if the holiday falls on a non-Monday, it will most likely be observed on another Monday.
Businessmen, on the other hand, were unhappy about the government’s holiday economics policy, which forces them to double the salaries of employees working during holidays. There are 11 national regular holidays and three national special days in the Philippines. Christmas Day (December 25), New Year’s Eve (December 31), New Year’s Day (January 1), Holy Thursday, Good Friday, Easter Sunday, Eid Al Fitr, and All Saints Day are all exempt from the holiday economics regulation (November 1).
Holiday Economics Law for 2023
The following holidays had been affected by the Proclamation No. 90 of President Marcos.
- New Year’s Day was initially observed on a Sunday. In recognition of the Filipino tradition of visiting relatives and spending time with their family on this occasion, the holiday will be designated on January 2 (Monday) as an additional special (non-working) day in the country.
- The commemoration of “Araw ng Kagitingan” is celebrated every April 9, which falls on a Sunday in 2023. It will be shifted to April 10, 2023 (Monday) to allow citizens to enjoy the benefits of a longer weekend, and it will be declared a non-working holiday, while preserving the meaning of “Araw ng Kagitingan.”
- Bonifacio Day, which is marked on November 30 of each year, will fall on a Thursday in 2023. The holiday may be declared a working holiday on November 27 (monday) pursuant under RA No. 9492.
Making the Most of Holiday Economics Law for 2023
Learning about people’s backgrounds can help you understand them better. And there is no better way to learn about a country’s history than to observe its holidays, festivals, and celebrations. The Philippines is no different. Filipino culture is visible through their annual celebrations, which include over 50 holidays throughout the year. A primarily Christian country with pleasant people who are regarded as among the happiest in the world. For years to come it is expected that the Filipino people will continue with this tradition.
The Philippines, like any other country, recognizes the importance of historical, social, religious, and cultural holidays. However, the number of holidays observed in the Philippines exceeds the ASEAN average of 15. This number may fluctuate because some special days are not always recognized year. For example, during its two elections in 2014, Indonesia observed vacations, whereas the Philippines honored the Iglesia ni Cristo centennial celebration.
“The increase in the number of long weekends can help reduce stress, prevent burnout, and promote work-life balance for both employees and students by allowing them to decompress and spend time with their family and friends,” an excerpt from a bill filed Senator Raffy Tulfo. The Holidays are some of the things we look forward to every year as we take advantage of these days to spend it with our family and friends. But have you tried using these holidays economics law to produce revenue flows while relaxing with your family?
Considering that one of the goals of the Holiday Economics Law for 2023 is to boost local tourism in the country, it is predicted that people would require a place to spend their holiday. You can enhance revenue by purchasing a low-cost property and converting it into a vacation home where family members can reunite and rekindle their relationships while celebrating traditional Filipino holidays. On the other hand, if you want to utilize this property as your own holiday home, where you will be able to spend long weekends with your family without having to arrange or to be stressed-out on planning a location every holidays due to the increasing number of both international and local tourist each year.
If you are one of the persons described, then you should consider investing in Bria Homes. Bria had been one of the top developers in leading innovative housing developments in the Philippines. Bria is committed to provide affordable housing and lots to every Filipino. Bria Homes in Pangasinan is one of the projects now under construction, and investing this early, as of construction phase, would save you a lot of money for your dream vacation home.