Connect with us

Hi, what are you looking for?

News

‘Revenge travel’ to boost brand sales — ShopBack

COCO ROSALES-UNSPLASH

The tourism industry will make a comeback this year as people take advantage of loosened restrictions and go on a “revenge travel” spree, according to ShopBack, a cashback reward program.

“We expect travel to be one of the big [sales drivers],” Prashant Kala, Philippine country head of ShopBack, told BusinessWorld in a May 5 Zoom call. Shopback aims to push P24 billion in sales to its brands in 2022, up from P15 billion last year.

The app will hold a three-day promotion May 16–19, offering up to 100% cashback from travel industry partners such as Agoda, Klook, and Trip.com. It also plans to double the number of companies offering e-vouchers (currently about 20) within the next few months.

Popular domestic destinations in the cashback reward program include Boracay, Palawan, Cebu, Baguio, and Batangas.

Per ShopBack data, domestic travelers tend to be families; international travelers, meanwhile, tend to be couples. Popular international destinations include the US and Singapore.

ShopBack saw spikes in flight and hotel bookings between October and November 2021; and in February, when the Omicron coronavirus variant did little to dampen Holy Week and Labor Day plans.

Public transport stakeholders in the Philippines have been making improvements on infrastructure as early as August 2021 in anticipation of the post-quarantine travel demand.

According to the latest Economic Impact Report of the World Travel and Tourism Council (WTTC), travel and tourism in the Philippines will reach an annual growth rate of 6.7% in the next 10 years, exceeding its overall economy average growth rate of 5.6 %.

The country logged 202,700 foreign tourist arrivals as of April 7, a majority of which come from the United States, Canada, the United Kingdom, South Korea, and Australia. — Patricia B. Mirasol

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

FREEPIK DAVOS, Switzerland — A growing world food crisis is precipitating protectionist moves by countries that are likely to compound the problem and could...

News

FREEPIK SEOUL — North Korea fired three ballistic missiles off its east coast on Wednesday, Seoul’s military said, just hours after US President Joseph...

News

FREEPIK UVALDE, Texas — A teenage gunman opened fire at an elementary school in South Texas on Tuesday, killing 18 children and three adults...

Editor’s Pick

Rishi Sunak is scrambling to finalise a package of measures that could be announced as soon as Thursday aimed at alleviating the cost of...

Editor’s Pick

The £4.25bn takeover of Chelsea football club has been completed after Roman Abramovich agreed to the UK government’s terms for the sale, ending a...

Editor’s Pick

Marks & Spencer is to shut 32 more stores as it shifts away from town centres, saying many have “lost impetus” as a result...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.