THE Metro Bacolod Chamber of Commerce and Industry Chief Executive Officer Frank Carbon said the soar in the value of the US dollar is good for Overseas Filipino Workers (OFWs) as well as to the local tourism industry.
A dollar now is worth P49.83.
Carbon said the OFWs and their families are surely happy because of the high value of the dollar that may even reach P51 to P52 in December.
“They will surely enjoy the Christmas season,” Carbon said.
Aside from these, there may also be an increase in the influx of international tourists because they will also enjoy the high value of their money in the country, he added.
Carbon further said the situation may also strengthen the Business Process Outsourcing sector as most of the companies in the Philippines are American firms.
“We can even expect bonuses for our call center employees or increase on their salaries,” he also said.
However, Carbon explained the situation may not be favorable to local companies having dollar loans and also to importers.
“We also import some of our foods and basic needs like rice, vegetables, and meat,” he said.
The business leader emphasized that although 90 percent of the country’s fuel consumption is imported, but believed that prices of fuels will not go up to the same high price last year because fuels in Middle East sources are now cheaper.
He also said another fuel price increase is looming this week.
Price of gasoline last year had reached more than P50 per liter.
