Photo by: Walter Bollozos/The STAR

Context: 

In the bustling world of economic policies, a unique concept called "holiday economics" has emerged in the Philippines. Holiday economics refers to the creation of long weekends, moving national holidays closer to the weekends.. This article delves into the intriguing realm of holiday economics, focusing on its application and impact in the Philippines.

Analysis:

The concept of "holiday economics" has been introduced by former President Gloria Macapagal-Arroyo. This economic policy aims to  stimulate the economy by encouraging people to travel and engage in domestic and international tourism activity, which could increase consumer spending.. Apart from this, the policy is said to maintain a harmonious balance between work and personal life.

On July 24, 2007, R.A. 9492 was signed into law by former President Gloria Macapagal Arroyo, an act rationalizing the celebration of national holidays, a direct application to the concept of "holiday economics." The law legalizes moving regular and special national holidays closer to Saturday or Sunday, which creates long weekends except for New Year's Day, All Saints Day, and Christmas Day. The law also states that if the holiday falls on a Wednesday, the holiday will be observed on Monday. If the holiday falls on a Sunday, the holiday will be celebrated on the following Monday. 

Comparative:

The said economic policy has impacted society in various positive ways. (1) The economy: The policy positively impacts the economy by boosting tourism, travel, and leisure, which could increase consumer spending.. (2) Work and Life Balance: This allows workers to have adequate time for rest and leisure, creating a harmonious balance between work and life. 

However, despite these positive impacts of holiday economics, some constraints pose adverse effects on the business sector and the society at large: (1) In the business sector: After the introduction of the policy by the Arroyo administration, her successor, President Benignno Simeon Aquino, abolished the policy when he issued Proclamation 82 on December 20, 2010, after few months in his office due to the opposition of the business sector to the said policy on paying workers extra wage on public holidays. (2) The spirit of the commemoration: A lot argue that moving the day of the national holiday would omit the real essence of the commemoration of a particular holiday, leaving no space for reflecting the real significance of the event. This is also why former President Gloria Arroyo received backlash when she moved May 1, Labor Day, the international day of the working class, into another date. 

Impact:

Nowadays, the Marcos Jr. administration adopts the economic policy 'holiday economics', moving various national holidays closer to the weekend in anticipation of the same rationale that this will boost travel tourism and increase consumer spending that will stimulate the economy. According to the current administration, this policy would further aid in the country's economic recovery brought by COVID-19, which had caused economic turmoil.