More news about how the COVID-19 pandemic in the Philippines is being handled by the public and the government.
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| https://pia.gov.ph/news/filipino-migration-bouncing-back-to-pre-pandemic-level-cfo/ |
The migration level of Filipinos is gradually bouncing back to pre-pandemic benchmark, with North America as the top destination for Filipino permanent and long-term migrants worldwide.Commission on Filipino Overseas (CFO) Secretary Dante “Klink” Ang II said that before the COVID-19 pandemic, migration trends for permanent and long-term settlement were already showing a slight decline. Travel restrictions during the health crisis brought cross-border movement to a standstill, but 2025 data shows migration is bouncing back.
The CFO places the total number of overseas Filipinos around the world at 10.7 million. The United States tops the list of destinations for Filipino permanent migrants. It hosts an estimated 4.8 to 5.1 million Filipinos who have settled abroad or acquired US citizenship, Ang reported in a recent kapihan forum in Baguio City.
Canada is another major host country.
Australia continues to see a growing number of Filipino migrants choosing it as their new home, he said.
Of the 10.7 million migrant Filipinos, more than half fall under the CFO’s mandate of serving permanent and long-term migrants. Temporary overseas Filipino workers make up about 30 percent of the overseas Filipino community.
“Data tends to fluctuate as it is difficult to track,” Ang said, citing challenges in maintaining comprehensive records of Filipinos abroad, especially those born overseas or who have acquired foreign citizenship.
Economic opportunities remain the primary driving force for migration. Filipinos abroad never turn their back on the Philippines. They keep sending remittances, investing, and donating during calamities, Ang said.
He added that it is the role of the CFO to help overseas Filipinos, including next-generation migrants seeking to discover their roots, find ways to contribute to national development as strategic partners.
Ang shared that the first wave of Filipino migrants is now entering retirement age, and many are reaching out to the CFO to explore programs and opportunities for returning to the Philippines.
“A lot of our migrants want to come back, especially those reaching retirement age,” Ang said. He shared the story of an uncle who returned from the US and enjoyed a higher quality of life with full-time household help, a nurse, and a driver. With the stronger purchasing power of their foreign pensions, they can have a more comfortable and affordable life in the country.
Popular retirement spots include Dumaguete, Davao, and Baguio. Ang shared that Baguio is drawing both Filipinos and foreign retirees, especially Koreans, due to its cool climate.
Ang explained that while many are attracted by family ties and lower costs, access to quality healthcare and benefits portability are key challenges that the CFO is working to address.
Great more workers are leaving the nation. That will surely help the economy. Also note that migrant workers are coming back home to live on pensions based on foreign currency which gives them stronger purchasing power. That is good for them but bad for the host country which they are leaching.
The BSP set caps on interest rates during the pandemic. The local credit card industry is calling for them to be scrapped.
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| https://business.inquirer.net/569931/credit-card-industry-renews-call-to-scrap-caps-on-interest-rates-fees |
The local credit card industry is renewing its push to persuade regulators to lift caps on fees and interest rates, saying controls imposed during the pandemic are no longer needed as the economy normalizes.
Alex Ilagan, executive director of the Credit Card Association of the Philippines (CCAP), said the group was awaiting a decision from the Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP), on a position paper submitted last year.
The proposal calls for the removal of pandemic-era cap on finance charges, contending that pricing should be set by market forces rather than regulation.
“We feel that the market will eventually determine what’s the best rate,” Ilagan told reporters. “In the past, it’s always been market-driven because there will be competition. So, some banks will lower theirs, some will increase.”
The Monetary Board last addressed the issue in August 2023, when it opted to retain existing ceilings on credit card transactions. The limits were imposed by the central bank as a temporary relief measure during the COVID-19 pandemic to ease the financial burden on consumers and preserve access to affordable credit.
Under the rules, interest or finance charges on unpaid credit card balances are capped at 3 percent a month, or 36 percent annually, while monthly add-on rates on installment loans are limited to 1 percent. Processing fees on credit card cash advances, meanwhile, are capped at P200 per transaction.
At the time, BSP Governor Eli Remolona Jr. said the decision was intended to strike a balance between maintaining steady borrowing costs for consumers and ensuring the long-term viability of banks and credit card issuers.But Ilagan said the industry believes those limits have outlived their purpose. “We feel that a cap is unnecessary at this point,” he said. “There’s no more pandemic.”
Credit card receivables in the Philippine banking system reached P1.1 trillion pesos as of September 2025, according to latest central bank data, up 29 percent from a year earlier.
Of that total, P52.7 billion were classified as nonperforming—debts unpaid for at least 90 days and at risk of default—accounting for 4.82 percent of total credit card receivables and 9.45 percent of the banking sector’s nonperforming loans.
A separate survey of CCAP members showed 18.5 million outstanding credit cards as of the fourth quarter of 2025, up 12 percent from a year earlier.
Ilagan said growth could accelerate this year as financial technology firms expand lending offerings, including buy-now-pay-later products.
“It will probably grow faster because, you know, there’s more competition coming in,” Ilagan said, adding that fintech players could broaden the market by drawing first-time borrowers into the formal credit system, many of whom may eventually upgrade to traditional credit cards.
“So, we don’t really look at them as a direct competitor. They’re enhancing the market for us,” he said.
3% is great!! No consumer will want it higher. It would be detrimental to their wallet.
Full recovery of the tourism industry is still out of reach says DOT Secretary Christina Garcia-Frasco.
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| https://mb.com.ph/2026/01/21/philippine-tourism-surges-to-648-million-arrivals-yet-full-recovery-still-out-of-reach |
International arrivals in the Philippines climbed to 6.48 million in 2025, a strong post-pandemic recovery that remained below pre-pandemic levels of about eight million, the Department of Tourism (DOT) said.
DOT Secretary Christina Garcia-Frasco said the Bureau of Immigration (BI) recorded 5.9 million foreign tourists.
Around 500,000 were foreign nationals under other travel categories, and over 40,000 were overseas Filipinos.
Frasco noted that these figures highlight a gap with the government’s e-travel system, which currently reflects only 5.85 million arrivals.
She attributed the discrepancy to travelers exempted from e-travel reporting, such as foreign dignitaries, diplomats and their families, cruise passengers, and chartered flight arrivals.
The DOT is coordinating with the BI and the DICT to close these data gaps and ensure accurate visitor counts.
The tourism chief said the difference between BI data and e-travel records has steadily grown—from roughly 200,000 in 2023 to 486,000 in 2024, and about 618,000 in 2025.
She stressed that passport-stamped BI data remains the most accurate measure of actual arrivals.
International arrivals continue to rise, led by visitors from South Korea and the United States.
Strong growth was also seen from Japan, Australia, Canada, and India due to visa-free policies.
The recent 14-day visa-free entry for Chinese tourists is expected to further boost numbers.
Frasco acknowledged challenges, including the prolonged suspension of Chinese e-visas and natural disasters, noting that arrivals tend to decline after major incidents.
Despite these hurdles, she highlighted ongoing DOT promotional efforts with a modest ₱100-million marketing budget, far below competing destinations.
Airport upgrades, including the partial rollout of e-gates at Ninoy Aquino International Airport, aim to streamline arrivals and ensure proper recording of all international visitors as tourism recovery continues.
But the real numbers apparently are not known due to discrepancies between the BI and the DICT.
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