Holiday Economics: Difference between revisions
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== Definition == | == Definition == | ||
'''Holiday economics''' is a term which describes the government’s deliberate manipulation of holiday dates for economic and organizational purposes. Introduced by President Macapagal-Arroyo in 2001, holiday economics moves holidays in the middle of the week to Monday or Friday to avoid disruptions in business activities and to provide families with three day weekends. By encouraging people to spend and travel more during holidays, it aims to boost domestic tourism and to improve the Philippine economy. This policy was then officially made into a law in August 20, 2007 when President Macapagal-Arroyo signed the Republic Act (RA) 9492, “An Act Rationalizing the Celebration of National Holidays”. This law moves all national holidays to the nearest Monday and provides a six-month advanced notice before a holiday would be declared non-working. | '''Holiday economics''' is a term which describes the government’s deliberate manipulation of holiday dates for economic and organizational purposes. Introduced by President Macapagal-Arroyo in 2001, holiday economics moves holidays in the middle of the week to Monday or Friday to avoid disruptions in business activities and to provide families with three day weekends. By encouraging people to spend and travel more during holidays, it aims to boost domestic tourism and to improve the Philippine economy. This policy was then officially made into a law in August 20, 2007 when President Macapagal-Arroyo signed the Republic Act (RA) 9492, “An Act Rationalizing the Celebration of National Holidays”. This law moves all national holidays to the nearest Monday and provides a six-month advanced notice before a holiday would be declared non-working. | ||
==References== | |||
* [http://www.bworldonline.com/OnlineExclusives/holiday/inside.php?id=001 "Holiday Economics: a boost to the economy" BusinessWorld, 7 April 2003] | |||
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Latest revision as of 18:15, 21 February 2009
Definition
Holiday economics is a term which describes the government’s deliberate manipulation of holiday dates for economic and organizational purposes. Introduced by President Macapagal-Arroyo in 2001, holiday economics moves holidays in the middle of the week to Monday or Friday to avoid disruptions in business activities and to provide families with three day weekends. By encouraging people to spend and travel more during holidays, it aims to boost domestic tourism and to improve the Philippine economy. This policy was then officially made into a law in August 20, 2007 when President Macapagal-Arroyo signed the Republic Act (RA) 9492, “An Act Rationalizing the Celebration of National Holidays”. This law moves all national holidays to the nearest Monday and provides a six-month advanced notice before a holiday would be declared non-working.