Too many holidays not good for economy PCCI

PRESS RELEASE

August 14, 2024

Too many holidays not good for economy – PCCI

The Philippine Chamber of Commerce and Industry reiterated its call for Congress to rationalize the number of holidays in the country, adding that it reduces the country's productivity and weakens our position as an investment destination.

“We have too many holidays compared to the others in the region. We have to reduce its negative impacts on the productivity of our workforce and state of our economy,” PCCI President Enunina V. Mangio said. At present there are approximately 22 plus about 5 special holidays declared by the Palace every year, in addition to those that are calamity-related and hundreds of provincial and municipal holidays.

Mangio said that having too many holidays is unhealthy for business and the economy. It increases the labor costs that actually burden particularly the small businesses.

“Let us focus and work on our productivity and competitiveness and make sure we attract more investors into the country,” she said.

The PCCI is open to participate in any consultations should there be a proposal or study that will be presented on extra holidays.