Philippines to hold month-long shopping sale in bid to boost spending

Promotion comes as retail sales across Asia are weighed down by a coronavirus scare

Published: February 20, 2020 12:00 Bloomberg and Compiled by Nathaniel Lacsina, Digital Content Producer

1 of 10

GETTING READY: The Philippines, home to among the world's largest malls, will hold a month-long shopping sale in March, a move that could reinvigorate the retail sector hurt by the virus scare. Image Credit:

2 of 10

TOURISM PUSH: Mall operators like SM Prime Holdings Inc. and Ayala Land Inc. to more upscale retailers like SSI Group Inc. will participate in the sale, announced a year ago, and forms part of the government's six-year tourism roadmap. Image Credit: Bloomberg

3 of 10

SALES DENTED: Sales in leading Philippine malls fell as much as 20 per cent in the first few weeks of the virus. Sales in SM Prime's seven malls in China were cut by half. Image Credit:

4 of 10

PUSHBACK AGAINST VIRUS: Sales in SM Prime's Philippine malls fell as much as 20 per cent in the first few weeks of the virus while sales in its seven malls in China were cut by half. Image Credit: Bloomberg

5 of 10

DOMESTIC TOURISM: The government is also banking on domestic tourism to help offset what appears to be a sharp decline in international travellers, based on data from the Manila International Airport Authority. Image Credit:

6 of 10

CONSUMPTION: Private consumption accounts for about 74 per cent of the Philippine economy, while tourism makes up about 12 per cent. Image Credit: Supplied

7 of 10

FLIGHTS: Flights to and from Manila's airport fell 22 per cent after the Southeast Asian nation imposed a travel ban on places hit by the virus. Image Credit: File photo

8 of 10

DROP IN INTERNATIONAL TRAVEL: International travellers saw a 16.7 per cent year-on-year drop to 1.35 million in the January 25 to February 17 period, according to data. Image Credit:

9 of 10

TRAVEL INDUSTRY: Domestic travellers declined 3.4 per cent to 1.4 million. Image Credit:

10 of 10

EYEING RECOVERY: "It's a lost opportunity but at the end of the day, there is time to recover," Manila airport chief Eddie Monreal said. "Hopefully, we'll be able to recover soon." Image Credit:

Photos Business

Philippines to hold month-long shopping sale in bid to boost spending

More From Photos

Photos: Ferrari unveils GT-inspired 12Cilindri and 12Cilindri Spider

Photos: After Noel Quinn's sudden exit, who's in the running for HSBC CEO?

Dubai's new beachfront destination J1 Beach is opening in September

In Pictures: Dubai's Al Maktoum International Airport to be world's largest

GULFNEWS SECTIONS

Trending

Philippines to hold month-long shopping sale in bid to boost spending

More From Photos

Photos: Ferrari unveils GT-inspired 12Cilindri and 12Cilindri Spider

Photos: After Noel Quinn's sudden exit, who's in the running for HSBC CEO?

Dubai's new beachfront destination J1 Beach is opening in September

In Pictures: Dubai's Al Maktoum International Airport to be world's largest

GULFNEWS SECTIONS