MANILA – The Duty Free Philippines Corporation (DFPC) has generated USD102.9 million last year, posting a 53 percent growth from its USD67.3 million sales in 2022.
In a briefing on Tuesday night, DFPC Chief Operating Officer Vicente Pelagio Angala said the agency would double efforts to sustain this momentum and reach USD167 million by end of 2024.
"We struggled to rise to the challenge and demonstrated our strength and resilience as an organization. Indeed, we are now moving towards business recovery. There is no way, but up,” he said.
Overseas Filipino workers remain as DFPC’s top customers, contributing at least 63 percent in the total 2023 sales, followed by the Chinese with 15 percent, Americans with eight percent, the Vietnamese with three percent, and Malaysians with one percent contribution.
Duty Free Philippines will further expand its product lines to meet the needs of its customers while featuring more local products, Angala said.
The agency will also introduce an online shopping platform by February to ease access to their products, which ranges from chocolates and confectionery, liquors and wines, bags, and perfumes and cosmetics, among others, he added.
In February, Duty Free will finally be part of the DOT’s Hop-On Hop-Off (HOHO) itinerary.
The HOHO is a DOT-led initiative that allows tourists to book a quick, do-it-yourself (DIY) tours through a mobile application.
The DFPC, Angala said, has also resumed operations in Bacolod, Kalibo, and Iloilo International Airports, with plans for additional stores at Clark Terminal 2 to cater to the growing number of travelers.
“For 2024, we again accept the challenge of increasing ourselves by as much as 64 percent, from USD102 million to USD167 million,” Angala said.
As the travel industry recovers, Angala disclosed that the DFPC has started remitting contributions to its mother agency, the Department of Tourism (DOT).
The DFPC remitted PHP54 million to fund the government’s tourism programs and projects in the first quarter of 2020 but had to defer for the succeeding months to help the corporation stay afloat during the pandemic.
This resumed last year, with its revenue remittance to DOT reaching PHP40 million from 2023 up to the first month of 2024.
DFPC is the sole operator of the duty-and tax-free merchandising system for international travelers, balikbayans and OFWs in the country. (PNA)