OUR EDITORIAL: Keeping outlook bright despite Omicron threat
WHILE the emergence of the Omicron variant reminds us all that the Covid-19 pandemic is not yet over, we should maintain the economic recovery underway and the outlook for 2022. Governments, along with health experts around the world, are jittery about the new variant that has been detected in at least 38 countries.For now, the Philippines is not among them.
That is promising because consumer spending accounts for 70 percent of the total economy or gross domestic product . Our only concern here is that more people should be mindful about wearing their face masks correctly when out in public.The greater concern is for tourism, which may suffer the most because of Omicron. In 2018, tourism spending contributed 12.7 percent to GDP, according to the Philippine Statistics Authority .
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